Half of India's new credit card users are Gen Z
Half of India's new credit card users are now Gen Z.
A lot of them aren't exactly newbies either; about one-third already had multiple credit accounts before their first card in 2024.
It's clear that young people are getting comfortable with formal credit earlier than the comparable millennial cohort in 2018.
India credit card adoption reaches 52 million
India's credit card market has jumped from 14 million holders in 2016 to 52 million in 2026, even though only 25% of credit-active consumers have cards so far.
Gen Z tends to use their cards quickly (28% rack up over ₹25,000 within three months) and they're also branching out into things like personal loans.
This shift is especially noticeable among young folks in semi-urban and rural areas, showing how diverse their financial habits are becoming.