{
  "id": 9110561,
  "title": "Credit Card Issuers’ Biggest Rival May Already Be in the Wallet",
  "url": "https://urgent.news/2026/09/22/credit-card-issuers-biggest-rival-may-already-be-in-the-wallet",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T08:01:36.000Z",
  "source": {
    "name": "PYMNTS",
    "slug": "pymnts",
    "url": "https://www.pymnts.com/consumer-finance/2026/credit-card-issuers-biggest-rival-may-already-be-in-the-wallet/"
  },
  "original_language": "en",
  "account": "Credit card issuers face a significant challenge from existing customers who may shift their spending without leaving the company. According to a PYMNTS Intelligence report, 58% of consumers who changed their primary credit card in the past two years continued using an existing card as their primary. Only 42% of those who made a change obtained a new card altogether. The threat goes beyond just new card offers. Consumers with multiple open cards can redirect purchases from one issuer to another without any application process or account closure. This shift in spending, known as \"card switching,\" is a signal of consumer behavior. Approximately 36% of U.S. adults, or 78 million people, have changed their primary credit card at least once in the past year, with 52 million doing so more than once. Issuers don't need to lose accounts to feel the effects of competition for transactions. Customers often make quick decisions, with 71% selecting their new primary card within a month of choosing. The options they consider are also limited, with 78% considering no more than two cards. The decision is influenced by factors such as better rewards rates, higher credit limits, sign-up bonuses, travel benefits, and mobile/digital experiences. For issuers, this means they should focus on retaining existing customers and offering compelling reasons for secondary cardholders to upgrade their products. The majority of switchers did not receive offers from their previous issuer before changing their primary card, and the retention attempts made by current issuers did not always meet the expectations of switchers.",
  "summary": "Credit card issuers can lose a customer’s spending without losing the customer. Among consumers who changed their primary credit card in the past two years, 58% made a card they already held their new primary card. Just 42% obtained a new card for that purpose, according to “The Switching Trigger,” a PYMNTS Intelligence report produced […] The post Credit Card Issuers’ Biggest Rival May Already…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}