Research and Statistics

Infographic: The rise and fall of credit card accounts


Compared to all other financial products, credit card accounts rose faster before the recession and fell harder during and after it, according to New York Federal Reserve data

The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.

Compared to all other loans, credit card accounts rose faster before the recession and fell harder during and after it, according to New York Federal Reserve data.The bank’s November 2010 Quarterly Report on Household Debt and Credit found that looking across all lending products, about 217 million accounts were closed during the four quarters that ended Sept. 30, while 158 million accounts were opened.

“Credit cards have been the primary source of the reductions in accounts over the past two years,” the report says, with the number of open accounts down 24 percent from their peak in the second quarter of 2008. Coming out of the recession, card offers are rebounding, with rewards becoming more generous, though the volume of offers is not up to pre-recession levels.


The rise and fall of credit cards
To use the graphic on your site, use the following code:

 <center><a href=””><img alt=” infographic: The rise and fall of credit card accounts” border=”0″ src=”” /></a> </center>

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

What’s up next?

In Research and Statistics

Alternate strategies to saving for emergency funds

If you have trouble leaving emergency savings untouched, you may be able to prepay some items, or just make your savings tough to tap

See more stories
Credit Card Rate Report Updated: September 23rd, 2020
Cash Back

Questions or comments?

Contact us

Editorial corrections policies

Learn more

Join the Discussion

We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

The editorial content on is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company’s business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.