Indians spent ₹23.62 lakh crore on credit cards in 2025-26, up nearly 12% from the previous year, according to the Reserve Bank of India (RBI). As of June 2026, there were 12.16 crore credit cards in circulation.
Credit cards are still a small part of India’s overall payments system. In June 2026, they processed about 58 crore transactions worth ₹2.01 lakh crore, compared with 2,272 crore UPI transactions worth ₹28.92 lakh crore.
This guide covers the latest credit card statistics in India, including cards in circulation, users, spending, transactions, online and offline payments, leading issuers, market share, outstanding balances and delinquencies.
Credit Card Statistics India 2026 (Editor’s Picks)
- 12.16 crore credit cards were in circulation in India as of June 2026.
- Indians spent ₹23.62 lakh crore on credit cards in FY2025-26, up nearly 12% from the previous year.
- 5.2 crore consumers (about 52 million) had live credit cards as of March 2026.
- Credit cards processed 58 crore transactions worth ₹2.01 lakh crore in June 2026.
- HDFC Bank had the largest credit card base, with 2.67 crore cards and a 22% market share.
- Outstanding credit card balances reached ₹3.1 lakh crore in March 2026.
- The four largest issuers, HDFC Bank, SBI, ICICI Bank and Axis Bank, accounted for about 70% of cards in circulation.
Sources: RBI, TransUnion CIBIL
How Many Credit Cards Are in Circulation in India?
India had 12.16 crore credit cards in circulation in June 2026, according to RBI data. The total crossed the 12-crore mark after banks added about 11.4 lakh cards during the month.
The card base has more than doubled since 2019. Here’s how the numbers have changed over the years:
| Period | Credit Cards in Circulation |
| December 2019 | 5.55 crore |
| July 2022 | 7.80 crore |
| December 2023 | 9.79 crore |
| March 2024 | 10.10 crore |
| June 2024 | 10.38 crore |
| June 2025 | 11.12 crore |
| May 2026 | 12.05 crore |
| June 2026 | 12.16 crore |
Source: RBI
How Many People Use Credit Cards in India?
About 5.2 crore people in India used credit cards in March 2026, according to TransUnion CIBIL.
The number has grown from 1.4 crore in March 2016, a 3.6-fold increase in 10 years.
Credit card users make up about 25% of India’s credit-active population. In simple terms, about 1 in 4 people with a credit history has a credit card.
How Many Credit Cards Does the Average Cardholder Have?
The average credit cardholder in India has about 2.1 live credit cards in March 2026. This is based on 10.7 crore live credit cards held by 5.2 crore consumers.
Having multiple credit cards has also become more common. The share of consumers with three or more credit cards rose from 12% in 2016 to 22% in 2026.
| Metric | 2016 | 2026 |
| Consumers with 3+ credit cards | 12% | 22% |
| Consumers with live cards | 1.4 crore | 5.2 crore |
| Live cards | 2.1 crore | 10.7 crore |
How Much Do Indians Spend on Credit Cards?
Indians spent ₹23.62 lakh crore on credit cards in FY2025-26, according to the RBI.
That was nearly 12% higher than the ₹21.09 lakh crore recorded in FY2024-25.
Credit card spending has continued to grow alongside the number of cards in circulation, with monthly spending reaching about ₹2.01 lakh crore in June 2026.
| Financial Year | Credit Card Spending |
| FY2024-25 | ₹21.09 lakh crore |
| FY2025-26 | ₹23.62 lakh crore |
On average, each credit card transaction was worth about ₹3,460 in June 2026, based on RBI data.
Source: RBI
How Many Credit Card Transactions Happen in India?
Credit cards processed about 58.1 crore transactions in June 2026, according to RBI data.
Those transactions were worth approximately ₹2.01 lakh crore.
| Metric | June 2026 |
| Credit card transactions | 58.1 crore |
| Transaction value | ₹2.01 lakh crore |
| Average transaction value | ~₹3,460 |
Online/e-commerce transactions made up about 29.21 crore transactions, while offline payments at stores made up 28.56 crore.
The volume split was therefore almost even between online and offline payments.
Are Indians Spending More on Credit Cards Online or Offline?
Online credit card spending is higher than offline spending by value.
In June 2026, online/e-commerce payments accounted for about 63.1% of credit card spending, compared with 36.9% for point-of-sale transactions.
Here’s the breakdown by value:
| Credit Card Channel | Transactions | Share of Volume | Transaction Value | Share of Value |
| Online/e-commerce | 29.21 crore | 50.2% | ₹1.27 lakh crore | 63.1% |
| POS | 28.56 crore | 49.1% | ₹74,262 crore | 36.9% |
| Other | 0.36 crore | 0.6% | ₹100 crore | <1% |
So online and offline payments are almost equal by transaction count, but online payments account for much more of the total value.
In simple terms, Indians make almost as many credit card purchases online as they do at physical stores, but the average online purchase is larger.
Source: RBI
Which Bank Has the Most Credit Cards in India?
HDFC Bank has the largest credit card base in India, with about 2.67 crore cards outstanding as of June 2026.
SBI was the second-largest issuer with about 2.26 crore cards, followed by ICICI Bank and Axis Bank.
| Bank | Cards Outstanding | Market Share |
| HDFC Bank | 2.67 crore | 22.0% |
| SBI | 2.26 crore | 18.6% |
| ICICI Bank | 1.95 crore | 16.1% |
| Axis Bank | 1.62 crore | 13.3% |
| Other issuers | 3.84 crore | 30.1% |
The four largest issuers accounted for about 69.9% of India’s credit cards in June 2026.
Source: RBI, bank-wise credit card statistics
Which Banks Are Growing Their Credit Card Base the Fastest?
Banks added a net 11.4 lakh credit cards in June 2026.
HDFC Bank added the largest number during the month, followed by SBI and ICICI Bank.
| Bank | Net Cards Added in June 2026 |
| HDFC Bank | 1.64 lakh |
| SBI | 1.63 lakh |
| ICICI Bank | 1.51 lakh |
| Federal Bank | 1.01 lakh |
| IDFC FIRST Bank | 0.91 lakh |
| Canara Bank | 0.65 lakh |
| Slice Small Finance Bank | 0.60 lakh |
The June additions show that smaller banks are growing too. Federal Bank and IDFC FIRST Bank each added more than 90,000 cards during the month.
How Big Are Co-Branded Credit Cards in India?
Co-branded cards account for around 17% of India’s credit card base and 18% of credit card spending.
Co-branded credit cards are issued by a bank in partnership with another brand, such as an e-commerce platform, food-delivery company, fuel company or retailer.
The partner brand typically offers cardholders rewards or other benefits linked to its products and services.
Some of the major co-branded cards in India include:
| Co-Branded Credit Card | Bank | Partner | Category |
| Amazon Pay ICICI Credit Card | ICICI Bank | Amazon Pay | E-commerce |
| Flipkart Axis Bank Credit Card | Axis Bank | Flipkart | E-commerce |
| Tata Neu HDFC Bank Credit Card | HDFC Bank | Tata Neu | Shopping & lifestyle |
| Swiggy HDFC Bank Credit Card | HDFC Bank | Swiggy | Food & grocery |
| BPCL SBI Card | SBI Card | BPCL | Fuel |
Credit Card Market Share in India
HDFC Bank held the largest share of India’s credit card market in June 2026, with 22% of cards in circulation.
SBI had an 18.6% share, followed by ICICI Bank at 16.1% and Axis Bank at 13.3%.
| Issuer | Credit Card Market Share |
| HDFC Bank | 22.0% |
| SBI | 18.6% |
| ICICI Bank | 16.1% |
| Axis Bank | 13.3% |
| Other issuers | 30.1% |
Together, HDFC Bank, SBI, ICICI Bank and Axis Bank accounted for roughly 7 in every 10 credit cards in India.
The market is therefore concentrated among a few large issuers, even as smaller banks continue to expand their card bases.
Source: RBI
Which Banks Get the Most Credit Card Spending?
HDFC Bank accounted for about ₹59,433 crore of credit card spending in June 2026, followed by SBI, ICICI Bank and Axis Bank.
| Bank | June 2026 Credit Card Spending | Spending Share |
| HDFC Bank | ₹59,433 crore | 29.5% |
| SBI | ₹41,077 crore | 20.4% |
| ICICI Bank | ₹31,411 crore | 15.6% |
| Axis Bank | ₹22,175 crore | 11.0% |
| Other issuers | ₹47,270 crore | 23.5% |
The four largest issuers accounted for about 76.5% of total credit card spending.
How Much Credit Card Debt Do Indians Have?
Outstanding credit card balances reached ₹3.1 lakh crore in March 2026, according to TransUnion CIBIL.
That is more than eight times the ₹0.4 lakh crore outstanding in March 2016.
Credit Card Outstanding Balances in India
| Period | Outstanding Credit Card Balances |
| March 2016 | ₹0.4 lakh crore |
| March 2018 | ₹0.7 lakh crore |
| March 2020 | ₹1.3 lakh crore |
| March 2022 | ₹2.0 lakh crore |
| March 2023 | ₹2.3 lakh crore |
| March 2024 | ₹2.6 lakh crore |
| March 2025 | ₹3.1 lakh crore |
| March 2026 | ₹3.1 lakh crore |
Credit card balances have therefore grown much faster than the number of consumers using cards.
CIBIL’s data shows that the number of consumers with live cards increased 3.6 times from March 2016 to March 2026, while outstanding balances increased 8.3 times.
The average outstanding balance per cardholder also increased from ₹31,000 in March 2016 to ₹65,000 in March 2026.
Source: TransUnion CIBIL, Beyond the Swipe 2026.
How Many Credit Card Defaults Are There in India?
TransUnion CIBIL reports credit card delinquency using days past due (DPD) rather than a single default rate.
As of March 2026, 8.1% of credit card balances were 90 to 179 days past due, while 1.7% were 180 days or more past due. CIBIL classifies the 180+ DPD category as write-offs in this analysis.
A write-off means the lender considers the debt unlikely to be recovered, although the borrower may still owe the money.
| Delinquency Measure | Share of Card Balances |
| 90–179 days past due | 8.1% |
| 180+ days past due/write-offs | 1.7% |
These figures show the share of card balances that were seriously overdue. CIBIL reports these figures as delinquency rates and not as a single default rate.
Source: TransUnion CIBIL
Credit Card vs UPI in India
In June 2026, credit cards processed about 58 crore transactions worth ₹2.01 lakh crore.
UPI processed about 2,272 crore transactions worth ₹28.92 lakh crore during the same month, according to NPCI.
Credit Cards vs UPI (June 2026)
| Metric | Credit Cards | UPI |
| Transactions | 58 crore | 2,272 crore |
| Transaction value | ₹2.01 lakh crore | ₹28.92 lakh crore |
| Approx. average transaction | ~₹3,460 | ~₹1,273 |
UPI handled far more transactions and a much higher total value than credit cards in June 2026.
Also, UPI includes money transfers between people, so the two figures are not a direct comparison of spending.
Source: RBI and NPCI
Credit Card Statistics: Key Trends in India
The latest figures show several trends in India’s credit card market.
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Credit card ownership is rising
India had 12.16 crore credit cards in circulation in June 2026, more than twice the card base recorded at the end of 2019.
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People are holding more cards
The share of consumers with three or more cards increased from 12% in 2016 to 22% in 2026.
-
Credit card spending continues to increase
Indians spent ₹23.62 lakh crore on credit cards in FY2025–26, nearly 12% more than in the previous financial year.
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Online payments account for most credit card spending by value
Online transactions represented about 63% of credit card payment value in June 2026, even though online and POS transactions were almost evenly split by volume.
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A few banks still dominate the market
HDFC Bank, SBI, ICICI Bank and Axis Bank together accounted for roughly 70% of India’s cards and more than three-quarters of credit card spending in June 2026.
-
Credit card balances have grown rapidly
Outstanding balances reached ₹3.1 lakh crore in March 2026, up from ₹0.4 lakh crore a decade earlier.
-
Credit risk remains part of the growth story
CIBIL reported that 8.1% of card balances were 90–179 days past due in March 2026, while 1.7% were 180+ days past due/write-offs.
FAQs
How many credit cards are there in India?
India had 12.16 crore credit cards in circulation in June 2026, according to RBI data.
How many people use credit cards in India?
5.2 crore consumers had live credit cards in March 2026, according to TransUnion CIBIL.
How many credit cards does the average Indian have?
There were 10.7 crore live cards and 5.2 crore consumers with live cards in March 2026, which works out to roughly 2.1 live cards per consumer. This is a calculated figure based on CIBIL’s data, not a directly reported average.
Which bank has the most credit cards in India?
HDFC Bank had the largest credit card base in June 2026, with about 2.67 crore cards outstanding
Which bank has the largest credit card market share?
HDFC Bank had the largest share at 22% of cards in circulation in June 2026.
How much do Indians spend on credit cards?
Indians spent ₹23.62 lakh crore on credit cards in FY2025-26, up nearly 12% from the previous financial year.
How many credit card transactions happen in India?
Credit cards processed approximately 58 crore transactions in June 2026, worth about ₹2.01 lakh crore.
Is credit card usage increasing in India?
Yes. The number of consumers with live credit cards increased from 1.4 crore in March 2016 to 5.2 crore in March 2026, while live cards rose from 2.1 crore to 10.7 crore.
Is credit card spending higher online or offline?
Online spending is higher by value. Online/e-commerce transactions accounted for about 63.1% of credit card payment value in June 2026, compared with 36.9% for POS transactions. By transaction volume, the split was almost even.
