Banking #banks#card usage
Banks opt to deepen card usage within existing base
Banks are increasingly issuing multiple credit cards to existing customers rather than onboarding new ones, resulting in just 5.2 crore unique cardholders against 10.7 crore cards in circulation as of March 2026, according to TransUnion Cibil's 'Beyond the Swipe' report. The shift reflects a decade-long trend of deepening usage rather than expanding ownership, with the share of consumers holding three or more cards rising from 12% in 2016 to 22% in 2026.
Jul 9, 2026 1 source