Dive Summary:

• The number of retail-issued credit cards has topped 183 million, according to a report published by Equifax.
• The rise in ownership of retail credit cards among U.S. consumers represents a four-year high – the most since September 2009.
• Balance totals for the cards also surpassed $56 billion this year, an increase of 6.4% over 2012.

Dive Insight:

The report of the rise in retail credit cards in 2013 certainly can’t hurt the sales outlook for the majority of mass retailers which issue them. The increase in ownership of the cards could indicate that holiday shoppers are more willing to splurge for gifts than recent years during the upcoming holiday shopping season.