Credit Card Debt Statistics

Last updated: 30 October 2026 · Latest data: September 2026 (published 29 October 2026) · Compiled by IVA Advice Online from Bank of England and ONS official statistics

How much do people in the UK owe on credit cards, how fast is it growing and what interest do they pay? The Bank of England publishes these figures every month in its Money and Credit release. This page brings them together with the long-run series back to 1993, our own per-adult and per-household averages, and a download of the data.

How much credit card debt is there in the UK?

Source: Bank of England, series LPMVZRJ, LPMVZQX, LPMVVUZ and LPMBI2O.^1,2 Seasonally adjusted. Interest rates are not seasonally adjusted.³ Latest year shows Sep 2026.

• People in the UK owed £83.7 billion on credit cards in September 2026, up from £76.6 billion a year earlier and £83.4 billion the month before.¹ That's the highest amount since the series began in 1993, in cash terms (not adjusted for inflation).
• Credit card debt stood at £58.3 billion in January 2006, before the financial crisis, and fell to £55.8 billion in April 2021 during the pandemic.²
• Net borrowing on credit cards was £0.7 billion in September, down from £1.3 billion in August, and £9.9 billion over the last 12 months.¹
• Credit cards make up 32% of the £261.2 billion of consumer credit owed in the UK. The rest is mainly personal loans and car finance. Student loans aren't included.¹

How fast is credit card debt growing?

Source: Bank of England, series LPMVVUZ and LPMB4TC.² The Bank works out growth rates from net lending, so they aren't affected by write-offs and other changes that reduce the amount outstanding.

• Credit card borrowing grew by 13.1% in the year to September 2026, compared with 13.3% in August and 10.9% a year earlier. All consumer credit grew by 9.8%.¹
• Growth turned negative in the pandemic, falling to -20.7% in February 2021, the lowest since the series began in 1994.²
• Because of write-offs and other adjustments, the amount owed rose by less than the growth rate suggests: £7.1 billion over the year, against net borrowing of £9.9 billion (IVA Advice Online calculation).²

Credit card interest rates

The Bank of England publishes two measures. The effective rate is the average interest actually being charged on credit card balances that bear interest, so it leaves out 0% deals. The quoted rate is the average advertised rate on a representative credit card.³

Source: Bank of England, series CFMZ6IR and IUMCCTL.³ Not seasonally adjusted. The vertical axis starts at 15%. The effective rate series starts in January 2016.

• The effective rate on interest-charging credit card balances was 21.71% in September 2026, up from 21.55% in August. It was 21.44% a year earlier.^1,3
• The highest effective rate since the series began in 2016 was 21.85%, in January 2025. In January 2016 it was 18.27%.³
• The average quoted rate on a representative credit card was 24.71% in September 2026.³

Average credit card debt per adult and per household

We've divided the Bank of England total by the ONS estimates of the UK adult population and the number of households:

Sources: Bank of England¹; ONS mid-2025 population estimates⁵; ONS families and households 2025.⁶ IVA Advice Online calculation.

These are simple averages across everyone. Many adults have no credit card or clear their balance in full each month, while others owe far more. The total also includes balances that will be paid off before any interest is charged, so the average doesn't show how much people are carrying as long-term debt.

Credit card debt written off by lenders

Banks and building societies wrote off £376 million of credit card lending in Q2 2026, and £1.35 billion over the last four quarters, compared with £1.14 billion in the four quarters before.⁴ A write-off is when a lender gives up on collecting a debt, for example after a customer becomes insolvent, or sells the debt on.

Source: Bank of England, series RPQTFHE.⁴ Covers banks and building societies only, not other card lenders. Full calendar years only.

If you're struggling with credit card debt

If you can only make minimum payments, or you're using one card to pay another, it's worth getting advice early. Our credit card debt help guide explains the options, and debt consolidation vs an IVA compares two common routes. If you're in an IVA, see getting credit during an IVA. You can also read how debt management plans, debt relief orders and bankruptcy work, including the downsides of each.

About the data

• Credit card debt is the Bank of England measure of sterling net credit card lending to individuals, from banks, building societies and other lenders, seasonally adjusted. It includes balances that will be repaid in full before interest is charged.²
• The latest months are provisional and can be revised in later releases. Figures here were downloaded on 30 October 2026, the day after the September 2026 release.¹
• Amounts are in cash terms and aren't adjusted for inflation, so comparisons with the 1990s and 2000s overstate the real increase.
• Per-adult and per-household figures, changes over the year and the credit card share of consumer credit are IVA Advice Online calculations.

Common questions

How much credit card debt is there in the UK?

People in the UK owed £83.7 billion on credit cards in September 2026, according to the Bank of England (seasonally adjusted). That's part of £261.2 billion of consumer credit, which also includes personal loans and car finance. Source: Bank of England, Money and Credit, published 29 October 2026.

What is the average credit card debt per person in the UK?

Dividing the £83.7 billion owed by the 55.5 million adults aged 18 and over gives about £1,509 per adult, or about £2,886 per household. This is an IVA Advice Online calculation using ONS population and household estimates. It's an average across everyone, including people with no credit card, and it includes balances that are paid off in full each month.

Is UK credit card debt going up?

Yes. Credit card borrowing grew by 13.1% in the year to September 2026, faster than consumer credit overall (9.8%). People borrowed a net £0.7 billion on credit cards in September alone. The amount owed is the highest since the Bank of England series began in 1993, in cash terms.

What is the average credit card interest rate in the UK?

The average effective rate actually paid on credit card balances that charge interest was 21.71% in September 2026. The average quoted rate on a representative credit card was 24.71%. Source: Bank of England.

Can credit card debt be written off?

Credit card debt can be included in an IVA, a debt management plan, a debt relief order or bankruptcy. Some of these can lead to part of what you owe being written off, but each has costs and downsides, such as the effect on your credit file. Our credit card debt guide explains the options.

Using these statistics

Sources

1. Bank of England, Money and Credit – September 2026, published 29 October 2026 (Tables B and C).
2. Bank of England, Bank of England Database, series LPMVZRJ, LPMVZQX, LPMVVUZ, LPMBI2O, LPMB3PS, LPMB4TC (seasonally adjusted), downloaded 30 October 2026. Reproduced under the Open Government Licence.
3. Bank of England, Bank of England Database, effective interest rate on credit card lending to individuals (CFMZ6IR) and quoted rate on a representative credit card (IUMCCTL), not seasonally adjusted, downloaded 30 October 2026.
4. Bank of England, Bank of England Database, quarterly write-offs of credit card lending to individuals by banks and building societies (RPQTFHE), downloaded 30 October 2026.
5. Office for National Statistics, Population estimates for the UK, England, Wales, Scotland and Northern Ireland: mid-2025, table MYE2, published 1 October 2026.
6. Office for National Statistics, Families and households in the UK: 2025, Table 5, published 17 April 2026.

This page provides general information, not advice about your circumstances.