The report titled The Switching Trigger: How Issuers Can Stop Their Credit Cards From Losing Top-of-Wallet Status was produced by PYMNTS Intelligence in partnership with Elan Credit Card. It analyzes consumer behavior regarding primary credit card selection and retention.
Data indicates that approximately 30 million cardholders in the United States express a high likelihood of switching their primary credit card within the next year. Younger consumers, specifically Gen Z, represent the demographic with the highest risk of churn.
The findings suggest that previous switchers are significantly more prone to changing their cards again. Issuers are advised to identify early warning signs and provide personalized offers to maintain their status as the primary payment method.
Strategies to improve customer retention include enhancing mobile application functionality, offering better rewards, and delivering timely incentives. These measures are intended to prevent cardholders from migrating to competitors.
The study is based on a survey of 2,460 U.S. consumers conducted in June 2026. The sample comprised 884 individuals who changed their primary card in the last 24 months and 1,576 who did not, alongside smaller subgroups analyzed for specific triggers.
