India's Active Credit Card Base Tops 120 Million in May; Spending Reaches ₹2.02 Lakh Crore

Credit card spending in India stood at ₹2.02 lakh crore in May, according to Reserve Bank of India (RBI) data. The figure was higher than ₹1.97 lakh crore recorded in April and ₹1.90 lakh crore in May last year, translating into a year-on-year increase of 6.3%.  

Even with the monthly improvement, spending remained below the ₹2.19 lakh crore reported in March. Average spending per active card increased to around ₹16,778 in May from ₹16,495 in April, indicating a marginal rise in card usage during the month. 

Active Cards Cross 120 Million 

The total number of active credit cards in the country crossed 120 million in May. Card issuers added 1.02 million net new cards during the month, 34% more than the additions made in May 2025.  

On an annual basis, the number of cards in force increased 8.3% from 111.20 million a year earlier. The latest data shows that the growth in the card base continued to outpace the increase in spending during the month. 

SBI Cards Leads Monthly Additions 

SBI Cards added 181,851 credit cards in May, the highest among all issuers during the month. ICICI Bank followed with net additions of 168,344 cards, while HDFC Bank added 142,297. 

Among other lenders, Federal Bank issued 106,861 cards, and IDFC First Bank added 87,227 cards. Both banks continued to report steady additions to their credit card portfolios. 

Banks Remain Selective 

Banks continued to expand their credit card business while maintaining tighter lending standards for unsecured loans.  

Several issuers have also revised reward programmes and linked benefits to customer spending over the past year, indicative of a greater focus on portfolio quality and costs. 

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Conclusion 

RBI data for May showed continued growth in active credit cards and fresh issuances. While card spending rose month-on-month, it was still lower than the peak seen in March. 

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