UK consumers put £249 billion through credit cards across 5.0 billion transactions in 2024 (UK Finance), an average of close to £50 a payment. The real story is the gap people miss: spending on credit cards is not the same as borrowing on them. Most of that £249 billion is repaid in full; only the part that revolves becomes debt.
How to read this page
Transaction value is the total amount put through credit cards. Transaction volume is the number of payments made. They answer different questions.
Spending is not debt. A card payment that is cleared in full at the next statement carries no interest. Only a balance carried over revolves into debt.
Merchant Category Group (MCG) is the type of retailer, such as a department store or discount store. It shows where card spending goes, not how it is financed.
Data period: 2024 – 2024-12·Last reviewed: 29 Apr 2026·Quarterly updates·Sources: Office for National Statistics · UK Finance
1.
UK credit card spending at a glance
How much was spent on credit cards, across how many transactions, and the average size of each.
Credit card spending (2024)
£249bn
total value2024
UK consumers spent £249 billion on credit cards in 2024, the total value put through cards, not the amount borrowed.
UK Finance, UK Payment Markets2024
Credit card transactions
5.0bn
▲ from 4.9bn in 20232024
There were 5.0 billion credit card payments in 2024, up from 4.9 billion the year before, steady growth in everyday card use.
UK Finance, UK Payment Markets2024
Average transaction value
~£49.80
derived2024
Dividing £249 billion by 5.0 billion payments gives an average credit card transaction of just under £50.
Derived from UK Finance figures2024
Fastest-growing online category
+237%
▲ discount stores vs 20192024
Online card spending at discount stores rose 237% on 2019, a sign of value-seeking behaviour in where people spend.
ONS / Visa Merchant Category data2024
2.
How much and how often the UK spends on credit cards
Both the value and the number of credit card payments edged up in 2024. The average transaction stayed modest, which fits the role credit cards now play in everyday spending.
UK credit card spending, value and volume
Measure
2023
2024
Transactions
4.9bn
5.0bn
Total value
–
£249bn
Average transaction (derived)
–
~£49.80
Source: UK Finance, UK Payment Markets 2025 (covering 2024). The average transaction is derived. A fuller multi-year value series is being added.Checked 29 Apr 2026
What this means
Credit cards are increasingly used like debit cards: frequent, modest-value payments rather than occasional big purchases. That everyday role is one reason most of the spending is cleared rather than borrowed. The borrowing side sits on UK credit card debt statistics.
3.
Where credit card spending goes online
By merchant category, online card spending concentrates in a handful of groups, and the fastest growth has been at the value end of the market.
Online card spending share by merchant category, 2024
Merchant category (online)
Share of online spend
Change vs 2019
Education & Government
13%
–
Department stores
8%
–
Discount stores
6.2%
+237%
Source: ONS / Visa Merchant Category Group spending data, 2024. These are shares of online card spending by category, not of all card spending.Checked 29 Apr 2026
Why discount stores jumped
The 237% rise in online discount-store card spending since 2019 reflects both the broader shift to online and a clear value-seeking trend through the cost-of-living squeeze. It is a share of online card spend specifically, so it captures how people shop online rather than total household spending.
4.
What credit card spending means for your business
For merchants, the question is acceptance cost and card mix; for cardholders, it is whether spending is cleared or carried.
The practical points
Credit card acceptance costs more than debit. Credit interchange is capped higher than debit, so a credit-heavy customer mix lifts your card-acceptance cost. See UK interchange fee statistics.
Rewards drive spend, not necessarily debt. Many people use credit cards for points and protection while clearing the balance, which is why spending can rise without borrowing rising in step.
Section 75 matters to customers. Credit card purchases between £100 and £30,000 carry added legal protection, a reason some customers prefer to pay by credit card for larger items.
Watch the cost of carrying. Where spending does turn into a revolving balance, today's rates make it expensive. See UK credit card interest rates.
2024 spend
£249bn
5.0bn transactions
Average payment
~£50
Everyday card use
5.
Spending on cards is not borrowing on cards
The single most important point about credit card spending data is that it is not a debt figure. Conflating the two badly overstates how much is owed.
Flow, not stock
The £249 billion is a flow: the money that passed through credit cards over the year. Outstanding credit card debt is a stock: the balance owed at a point in time, around £80 billion. The two are different measures, and most of the spending flow is repaid in full each month rather than added to the debt stock. Reading the £249 billion as "credit card debt" would overstate borrowing several times over.
The merchant-category shares are online only. The 13%, 8% and 6.2% figures are shares of online card spending by category, not of all UK card spending. They describe how people shop online, and should not be read as the share of total household or in-store spend.
6.
Sources and methodology
Credit card value and volume come from UK Finance's UK Payment Markets data; the merchant-category shares from ONS and Visa spending data.
2 sources Source register▾
Source
Publisher
Period covered
Type
Last checked
UK Payment Markets Report
UK Finance
2024 (calendar year)
Industry body
29 Apr 2026
Merchant Category Group spending data
ONS / Visa
2024 (vs 2019)
Official / card scheme
29 Apr 2026
How we check the data▾
Value and volume from UK Finance
The £249 billion value and 5.0 billion volume come from UK Finance's UK Payment Markets data, the standard industry count.
Category shares from ONS and Visa
The merchant-category online spending shares come from ONS and Visa data. We label them as online shares to keep them distinct from total spend.
Derived figures are flagged
The average transaction value is derived from the published value and volume, and is marked as derived.
Data integrity
Value and volume map to UK Finance UK Payment Markets; category shares to ONS and Visa. Spending (a flow) is kept distinct from debt (a stock), category shares are labelled online-only, and the average transaction is flagged as derived. Last full review: 29 Apr 2026.
Credit card spending FAQ
Common questions about UK credit card spending
How much do people spend on credit cards in the UK?
UK consumers spent £249 billion on credit cards across 5.0 billion transactions in 2024 (UK Finance), an average of just under £50 a payment. That is the value put through cards, not the amount borrowed.
Is credit card spending the same as credit card debt?
No. Spending is a flow (£249 billion over the year); debt is a stock (the balance owed at a point in time, around £80 billion). Most spending is repaid in full each month, so reading the spending figure as debt overstates borrowing several times over.
Is UK credit card spending rising?
Volume rose from 4.9 billion transactions in 2023 to 5.0 billion in 2024. Credit cards are increasingly used for frequent, modest-value everyday payments rather than occasional large purchases.
Where do people spend the most on credit cards online?
By merchant category, online card spending concentrates in Education and Government (13%), department stores (8%) and discount stores (6.2%) in 2024. Online discount-store spending rose 237% on 2019, a clear value-seeking trend.
Does it cost a business more to accept credit cards?
Usually, yes. Credit card interchange is capped higher than debit, so a credit-heavy customer mix raises card-acceptance costs. Many customers still prefer credit cards for rewards and the Section 75 protection on purchases between £100 and £30,000.