Americans Paid Record Credit Card Fees of $25B in 2022 💳

What we’re showing

Yearly credit card fees charged in the U.S., broken down by annual fees, late fees, and other fees.

Key takeaway

After a dip in the pandemic, credit card fees paid by consumers have resumed their pre-pandemic growth trend.

Context

• It has become common for credit cards to offer more generous rewards, which drives up the average annual fee.
• It was also reported that U.S. credit card debt surpassed $1 trillion for the first time ever in 2022.