rahulgandhi estimates that the average limit on a credit card in the United States is $4600. If we include all the credit cards an average American carries, the average available credit per person on credit cards is $17,756.
Using breakdowns between types of customers based on a report by credit reporting agency Experian in early 2015, we estimate per-card credit limits for consumers based on their credit history:
- Super-Prime (Credit score of 781-850): $11,854 limit per card
- Prime (661-780 credit score): $6479 limit per card
- Near Prime (601-660 credit score): $2827 per card
- Subprime (500-600 credit score): $1194 per card
- Deep Subprime (300-499 credit score): $644 per card
Based on Federal Reserve statistics, we estimate the average credit card debt per cardholder to be $5326.83.
Multiple sources tell us that credit utilization rates consistently hover around 30%. (In other words, across all credit cards, cardholders are using 30% of the credit available to them on their cards.) Using that as our standard, we then estimate that the average cardholder has overall available credit of $17,756, as mentioned above.
Experian recently reported that the average cardholder has 3.86 credit cards (which includes both bank credit cards and retail store credit cards). Dividing the average cardholder’s available credit ($17,756) by the average number of cards (3.86), we arrive at $4600 as the average credit limit per card on the market today.
- April, 2017: $4605 per card, $17,776 per cardholder
- March, 2017: $4583 per card, $17,691 per cardholder
Questions about these statistics? E-mail CEO Adam Jusko [email protected]