Archive · 25 Sep 2026
India Credit Card Spending Falls as Online Payments Decline
People used their credit cards less in August than in July.
Total card spending fell by 2.8 percent.
The biggest reported reason was a decline in online spending.
Online spending fell 7 percent, although ecommerce spending increased by 4.77 percent.
HDFC Bank customers spent slightly more than they did the month before.
Customers of ICICI Bank, Axis Bank and SBI Card spent less.
At the same time, the total number of credit cards increased.
This means more cards existed even though people spent less overall.
Credit card spending fell 2.8% to Rs 2.02 trillion in August from Rs 2.08 trillion in July.
Online spending declined 7% to Rs 1.23 trillion, while ecommerce spending rose 4.77% to Rs 79,355 crore.
HDFC Bank’s card spending increased 1.83% month-on-month to Rs 61,233.45 crore.
Spending fell at ICICI Bank, Axis Bank and SBI Card by 4.9%, 4.7% and nearly 10.8%, respectively.
The number of outstanding credit cards rose to 124.05 million in August from 122.85 million in July and 112.34 million a year earlier.
- Who
- Credit card users, major card issuers and the Reserve Bank of India, which released the data.
- What
- Credit card spending declined in August, while the number of outstanding cards increased.
- When
- August, compared with July 2026 and August 2025.
- Where
- India.
- Why
- The decline was attributed to lower online spending during the month.
- August credit card spending
- Rs 2.02 trillion
- Monthly spending change
- Down 2.8% from Rs 2.08 trillion in July
- Online spending
- Down 7% to Rs 1.23 trillion
- Ecommerce spending
- Up 4.77% to Rs 79,355 crore
- Outstanding cards
- 124.05 million in August, compared with 122.85 million in July 2026
- Largest issuer by spending
- HDFC Bank, with Rs 61,233.45 crore in August
- Year-on-year card growth
- Outstanding cards rose from 112.34 million in August 2025