New Delhi: I’ve been watching the numbers, and honestly, they’re unsettling. We’re in the middle of a credit card explosion, but it feels less like progress and more like a pressure cooker.

“Think about this: We’ve added a staggering 76 per cent more credit cards in just four years.In August 2025 alone, banks issued nearly 700,000 new credit cards, a seven-month high. That’s over 11 crore cards in people’s wallets today. But here’s the real kicker: the outstanding debt on them has doubled to Rs 33,886 lakh crore.”

And now, the cracks are showing. Defaults payments overdue by more than 90 days have shot up by 44 per cent in a single year.

This isn’t just about more people spending. It’s about an alarming inability to pay.

What’s driving this? On one hand, credit card spending is at a

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