As of 2023, the number of cards with a credit function in the UK stood at X million. Forecasts from 2024 to 2028 show a consistent upward trend, with slight annual increases. By 2028, the number is expected to reach 67.17 million units, suggesting gradual yet steady growth. Year-on-year, we observe modest increases of around 0.53% to 0.67%. Over the five-year period, the compound annual growth rate (CAGR) remains around 0.71%.
Future trends to watch for include technological innovations in payment methods, regulatory changes influencing credit usage, and shifts in consumer behavior towards alternative financial products.
