Taiwanese credit card spending tops NT$2 trillion in first five months, hitting record high

Taiwanese consumers are spending more than ever with credit cards, reaching a new milestone in the first five months of 2026. Total spending surpassed NT$2 trillion, marking a significant increase from the previous year.

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Taiwanese people are good at swiping!

In May alone, credit card transactions amounted to NT$420.2 billion, up 13% compared to the same period last year. This surge was fueled by a combination of factors, including the May Day holiday, Mother's Day celebrations, and increased travel, alongside concentrated tax payments like license plate tax.

The growing adoption of cashless payment methods continues to drive higher credit card usage across the island. As of the end of May, 32 credit card issuers had 59.715 million cards in circulation, with 40.135 million active cards. The total outstanding revolving credit was NT$115.4 billion, and installment payments not yet due totaled NT$162 billion.

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As citizens are increasingly accustomed to 'cashless payments,' credit card spending in the first five months of this year reached NT$2.0883 trillion, continuing to set a new record for the same period, with a year-on-year growth of 12.51%.

Leading credit card issuers by circulation and active cards include CTBC Bank, Fubon Bank, Cathay United Bank, E.SUN Bank, and Taishin Bank. The consistent year-on-year growth in monthly spending highlights a sustained increase in consumer reliance on credit cards for purchases.

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May coincided with the May Day holiday and Mother's Day holiday, boosting shopping, dining, and travel demand, coupled with concentrated billing for taxes such as license plate tax in May, which pushed up overall credit card spending.