TIPS & FACTS

There were a total of 1.12 billion credit cards issued in 2018 and the projection for 2023 is more than 1.25 billion.

 

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Currently, millennials’ credit utilization ratio—the total of all their balances compared to the total of all their credit limits—is at 36%. 

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In 2022, Millennials have an average of 2.5 cards each, while Baby Boomers average 3.5.

 

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Number of cardholders in the US is expected to grow to 193 million by 2023.

 

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Revvi Fact

The IRS views credit card rewards as a discount, not as income. Discounts aren’t taxable.

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8 in 10 U.S. adults (83%) report that they have at least one credit card, and 52% carried a balance in 2019.

 

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