Credit cards are becoming increasingly popular in India as digital payments and online shopping continue to grow. Over the last few years, millions of Indians have started using credit cards for daily expenses, travel bookings, shopping, and bill payments. But the big question is: How many people in India actually use credit cards? Let’s look at the latest numbers and trends.
Number of Credit Cards Increasing Every Year
The total number of credit cards in India has grown consistently over the past three financial years. In the financial year 2022–23, there were 853.03 lakh credit cards in circulation across the country. This number increased sharply in the next year. In 2023–24, the number of credit cards rose to 1,018.03 lakh. The growth continued in 2024–25, when the number of credit cards further increased to 1,098.85 lakh. This means that India now has over 10.98 crore credit cards in circulation.
💡 Did You Know? Interesting Facts About Credit Cards
- India has more than 10.9 crore credit cards in circulation as of 2025.
- Total credit card spending in India crossed ₹21 lakh crore in FY 2024-25.
- Despite rapid growth, only around 4–5% of Indians use credit cards, showing huge future growth potential.
- The first universal credit card was introduced in 1950 by Diners Club in the United States.
- Many Indians hold multiple credit cards to get rewards, cashback, and travel benefits.
- Credit cards allow users to convert purchases into EMIs (Equated Monthly Installments).
- Banks earn billions of rupees every year through credit card fees, interest, and merchant charges.
Tip: Always pay your credit card bill on time to avoid high interest charges and maintain a good credit score.
Credit Card Spending Also Surging
Along with the increase in the number of cards, the total value of transactions made through credit cards has also grown significantly.
- In 2022–23, the value of credit card transactions stood at ₹14.32 lakh crore.
- In 2023–24, this figure jumped to ₹18.31 lakh crore, reflecting a sharp rise in card-based spending.
- By 2024–25, the total transaction value further increased to ₹21.09 lakh crore.
| Financial Year | Number of Credit Cards (In Lakhs) | Value (₹ Lakh Crore) |
|---|---|---|
| 2022–23 | 853.03 | 14.32 |
| 2023–24 | 1,018.03 | 18.31 |
| 2024–25 | 1,098.85 | 21.09 |
This steady rise shows that consumers are increasingly using credit cards not only for large purchases but also for everyday spending.
How to apply for credit cards?
Credit card application is very easy. Just visit your bank and apply for credit card. Alternatively, you can use the mobile app of your bank to apply for credit card.
