Appetite for UK credit cards has continued to grow this year, according to data from credit reference agency Equifax.

Credit card originations levels were elevated throughout 2024, up 19% compared to the previous year, and data from Equifax UK shows this growth has continued into 2025.

After a 17% rise in the number of credit card limit increases during 2024, the trend has also remained at an elevated level this year.

This is according to the latest Affordability Barometer from Equifax, which tracks consumer credit trends across major lending categories including credit cards, home loans and retail finance.

Equifax’s figures come as outstanding UK credit card debt has now surpassed £70bn, a level 4.3% above pre-pandemic levels. Previously, the pandemic period gave some consumers an opportunity to pay down existing debts, including on credit cards, but this trend has since reversed.

Chief data and analytics officer at Equifax UK, Paul Heywood, said: “While growth in new UK credit cards may help contribute to economic recovery, lenders must also continue to monitor the potential impact associated with increased household debt.

“We’re five years on from the pandemic and its lockdowns, and for some consumers, the social restrictions created a chance to clear the slate on debts. But with ongoing cost of living pressures, overall debt has generally now surpassed pre-pandemic levels.

“This trend also outstrips wage growth over the same period and shows UK consumers increasingly see credit cards as a regular option to manage their spending and wider finances.”

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