Research and Statistics

Infographic: How many households have at least one card?


Your annual income and education level may indicate the chances of whether or not your household has a credit card

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If your annual income is more than $40,000, or you have a bachelor’s degree, chances are greater than 90 percent that someone in your household has at least one credit card.

But for those with only a high school diploma or less, or making less than $40,000 per year, the likelihood of your household having a credit card drops below 70 percent.

These are among the findings of the Federal Reserve Board’s latest study of household economic well-being. The study found that 91 percent of those making $40,000 to $100,000 per year had a credit card in the household, as did 96 percent of those making above $100,000. The incidence rate was just 60 percent for lower-income households.

Increased education levels were also a prominent indicator of credit card likelihood, with the odds ranging from 68 percent for those with a high school education or less, to 78 percent for those with some college, and up to 94 percent for those with at least a four-year degree.

The survey also looked at the race of credit card holders, with 83 percent of white respondents reporting at least one household card. For Hispanics, the rate dropped to 73 percent, and dropped further to 63 percent for black respondents.

The “Report on the Economic Well-Being of U.S. Households in 2016” is the Federal Reserve’s fourth annual installment of this fall survey. Drawing on responses from more than 6,000 U.S. adults and then weighted to match the demographics of the U.S. population, the results were released in May.

See related: Household debt passes pre-recession peak, New York Fed finds, Infographic: The financially happy now outnumber the unhappy More infographics

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