A recent study commissioned by i2c Inc. in collaboration with PYMNTS Intelligence indicates that despite nearly half of U.S. credit cardholders possessing three or more cards, the criteria for a card to achieve “top-of-wallet” status are rapidly evolving, particularly among younger demographics. The report, titled “The Credit Economy: Top-of-Wallet Credit Cards,” is based on a nationally representative sample of over 2,200 U.S. consumers.
The study highlights that while traditional motivators like rewards and credit flexibility remain relevant, new expectations are emerging from Gen Z and millennial cardholders. These younger segments, who reportedly rely most on their primary credit cards, are seeking flexible, configurable, and intuitive features that align with their real-time financial behaviors.
Amir Wain, founder and CEO of i2c Inc., commented on the findings, stating, “This data confirms what we’re seeing in the market: credit products can’t be static. To win top-of-wallet, issuers need to look beyond perks to deliver personalized, dynamic experiences.” He added that for financial institutions and fintechs, providing intuitive and highly configurable credit products has become a requirement for driving profitable growth.
Key findings from the report include:
Card Concentration and Usage: 46% of cardholders with three or more cards use their primary card multiple times per week, a higher rate compared to the 35% among those with only one card.
Revenue Generation: The average monthly balance on a top-of-wallet card is $1,903, significantly exceeding the average of $1,202 for second-choice cards and $929 for third-choice cards.
Engagement Through Control: 48% of Gen Z consumers indicated they would increase their use of their primary card if they had options for payment, such as installments, real-time transfers, or statement payoffs, at the point of checkout.
Beyond Rewards: While nearly half of cardholders cited rewards or discounts as an influence, nearly 70% identified other features, including high credit limits, credit-building tools, and strong customer service, as their primary reason for choosing a card.
The study suggests that achieving top-of-wallet status is increasingly linked to personalized engagement rather than static benefits, creating an opportunity for issuers to differentiate through technology. i2c Inc., a global financial technology innovator with over 24 years of experience, provides a globally unified platform and configurable banking and payment solutions. These capabilities are designed to enable issuers to launch tailored credit products swiftly, respond to user behavior in real time, and deliver customer experiences at scale.
The full report is available for complimentary download. Additionally, i2c will host a research-based webinar titled “The New Credit Playbook: Discover how card issuers can stay top-of-wallet” on Monday, June 30, 2025, at 1:00 pm EDT. The webinar will explore consumer demands from credit and card issuers, how financial institutions can meet evolving expectations, and strategies for issuers to adapt their approaches. Speakers will include Seth Perlman, Global Head of Product at i2c; John Gaffney, Chief Content Officer at PYMNTS; Agata Ruta, Chief Operations Officer at Belize Bank; Gretchen Bartholomew, VP of Operations and Payment Strategy at KEMBA Financial Credit Union; and Sumeet Grover, EVP, Chief Strategic Growth & Digital Officer at UFCU. Registration for the webinar is available.
