Marqeta’s 2026 State of Credit Report details a shift towards multi-product behavior by consumers and SMBs, yet many financial institutions still operate under the singular credit card mindset
Consumers and SMB owners use various cards, BNPL and credit-building products for different jobs and in different contexts. They are open to multiple products from the same provider – 39% of credit card holders have additional products from their provider.
Establishing that relationship early and being ready when the customer wants to transition to new products is key to maintaining long-term customer relationships. One-third of consumers holding additional products with their primary card provider began with a credit card before adding more products. That rises to 60% for those under 35.
“Younger consumers treat a credit card as the front door to a broader financial relationship,” the report states. “For providers, this reframes the strategic value of a credit product. It’s not just a revenue line. It’s a platform for relationship expansion, provided the infrastructure exists to support it.
“A consumer who leaves a credit builder card because their score improved represents either a lost customer or a graduating customer, depending entirely on whether the provider built a path forward for them. Providers who treat these moments as inevitable churn will keep losing customers at transition points. Providers who treat them as design opportunities will keep those same customers across the transitions.”
SMBs behave similarly to consumers, but at a more intense pace. Virtually all, 96%, are extremely intentional about payment methods for any transaction, with the top three factors being purchase size (32%), ease and speed of payment (25%), and cash flow impact (24%).
Two-thirds have relationships with multiple providers. That suggests that few providers have the range of products to meet an SMB’s complete needs.
SMB owners transition to new products as their needs evolve. Almost two-thirds say it’s important for their institution to offer a clear path from entry-level to advanced products
“Demand for graduation paths is strongest among growing businesses,” the report states. “The percentage of SMBs who say a clear path from entry-level to advanced products is important rises sharply with revenue: 52% of businesses under $1M, 66% of $1M–$9.9M, and 76% of $10M–$49.9M.”
Charge and credit builder cards become increasingly desirable once businesses cross $1 million in revenue.
SMB owners often use personal cards for business expenses, yet 97% said they could be encouraged to move to a dedicated business card. Better rewards, higher credit limits, lower fees, expense management features, the ability to issue employee cards, and integration with accounting tools were cited incentives.
What younger consumers want
Consumers under 45 have different credit behavior than those above it, and Marqeta said this will reshape the upcoming credit landscape. For them, the credit card is the entry point and acquisition channel for other products.
- 48% of consumers aged 18–44 are interested in a card that can switch between debit, credit, and BNPL at the point of purchase;
- 71% want the ability to switch between different credit products on a single card;
- BNPL is more likely to be a standard payment option; and
- 71% say they could be incentivized by the right offer.