TIPS & FACTS

There were a total of 1.12 billion credit cards issued in 2018 and the projection for 2023 is more than 1.25 billion

Currently, millennials’ credit utilization ratio—the total of all their balances compared to the total of all their credit limits—is at 36%.

Number of cardholders in the US is expected to grow to 193 million by 2023.

The IRS views credit card rewards as a discount, not as income. Discounts aren’t taxable.

8 in 10 U.S. adults (83%) report that they have at least one credit card, and 52% carried a balance in 2019.

The Total Visa Card is issued by The Bank of Missouri pursuant to a license from Visa U.S.A. Inc. Obtaining Your Card: The USA PATRIOT Act is a federal law that requires all financial institutions to obtain, verify and record information that identifies each person who opens a Card Account. What this means for you: When you open a Card Account, we will ask for your name, address, date of birth and other information that will allow us to reasonably identify you. We may also ask to see your driver’s license or other identifying documents at any time. *Card use subject to available credit; for security reasons, card may not be used at automated fuel pumps, for gambling transactions or at merchants outside the United States.