U.S. credit cards remain widely used, with 82% of banking customers holding at least one, but their relevance is under pressure from alternatives like BNPL. While 27% opened a new credit card in the past year, 50% opened BNPL accounts. Nearly half of credit card applicants experienced a denial, more than BNPL users. Credit cards dominate big-ticket and maintenance-related purchases but rank second to debit for everyday spending. Rewards programs, credit limits, and easy applications drive choice. Consumers show low loyalty to primary banks for credit cards, with only 21% opening new accounts there.

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