Credit Cards: Credit card usage is no longer limited to cities; its use has rapidly increased in rural areas as well. Gen Z, in particular, is increasingly using credit cards in the country.

Gen Z goes crazy over shopping and EMIs

Credit Card: Times have changed significantly. While mobile phones used to be the exclusive possession of adults, now even young children are using them. This change isn't limited to mobile phones; Gen Z is also increasingly using credit cards. While credit card usage was once limited to residents of larger cities, now it's becoming increasingly popular among young people in smaller cities.

What's in the report?

According to the report, today's youth are increasingly using credit cards and other loan products. Furthermore, within just three months of receiving their first credit card, approximately 28 percent of Gen Z customers had outstanding balances exceeding ₹25,000. Furthermore, 69 percent of Gen Z customers purchased a second credit product within a year of receiving their first credit card. Furthermore, Gen Z are not only shopping, but are also using EMIs and other credit products more than ever before.

For the first time, Gen Z leads the way.

• According to the report, by March 2026, 50 percent of first-time credit card customers were under 30 years of age.
• Among first-time credit card holders, 46 percent are from rural areas.
• The meaning is clear that now not only urban people but also rural people are using credit cards rapidly.

Credit card usage continues to rise.

The number of people holding credit cards reached 52 million in March 2026. Meanwhile, the number of active credit cards in use increased rapidly, nearly fivefold, to 107 million.