Credit Card: Times have changed a lot as compared to earlier, where earlier only adults had mobile phones, now even small children are using them. The change is not limited only to mobile phones, but now even Gen Z in the country is increasingly using credit cards. Whereas earlier the use of credit cards was limited only to the people of big cities, now the youth of small towns are also using it.

What’s in the report?

According to the report, today’s youth are using credit cards and other loan products more rapidly. Also, within just 3 months of getting their first credit card, about 28 percent of Gen Z customers had an outstanding balance of more than Rs 25,000. Not only this, but 69 percent of Gen-Z even took a second credit product within a year of getting their first credit card. Along with this, Gen-Z is not only shopping, but is also using EMI and other credit products more than before.

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Gen Z leads for the first time

• According to the report, by March 2026, 50 percent of the first-time credit card customers were below 30 years of age.
• Among the first time credit card takers, 46 percent are from rural areas.
• It means clearly that now not only urban people but also rural people are increasingly using credit cards.

Credit card usage continues to increase

In March 2026, the number of people having credit cards has increased to 5.2 crore. During the same period, the number of active credit cards in use increased rapidly by almost five times to 10.7 crore.

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Personal Loan vs Credit Card: Many times such an emergency suddenly arises for which money is needed immediately. A medical emergency or a financial emergency can occur at any time. In such a situation, people have two options: borrowing from someone or taking a personal loan, or using a credit card.

However, personal loan or credit card is also a kind of loan. You can get quick money from both, but the methods and expenses of both are different. Therefore it is important to choose the right option. But how will that happen? Let us tell.

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What is personal loan?
In personal loan, the bank or financial institution gives you a lump sum amount. You have to repay this amount through EMI every month within the stipulated time. Usually its interest rate is fixed in advance, so that you know in advance how much installment will have to be paid every month.

What is a credit card?
In a credit card, you get a fixed credit limit, which can be used anytime when needed. If you pay the full amount of the bill by the due date, usually no interest has to be paid. But if the payment is not made on time, heavy interest and other charges may be imposed on it.

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Personal Loan Vs Credit Card
Both are used in different ways, like if you need a large amount of money like Rs 2 to 5 lakh, like for hospital bills or any major work, then personal loan is a better option. It has fixed EMIs, making it easy to pay and often cheaper than carrying a credit card outstanding for a long time.

So, if you need a small amount like Rs 10 or 20 thousand, you can pay the full amount when the salary comes next month, then credit card is a better option. There is no process of taking loan in this and the money is received immediately.

Which of the two is better?
While choosing a loan or credit card, one should not only look at the interest rate. Processing fee on personal loan and penalty may be imposed if EMI is over. At the same time, late payment charges, finance charges and other fees can also be added to the credit card. Therefore, take the decision only after understanding the total expenditure.

Credit Card Update: Credit cards are often considered beneficial for borrowing and clearing the balance in a short period of time. However, if the card is not used for a long time, the card may be closed by the bank. As a result of which the customer loses even the good credit amount deposited. In such a situation, keeping your credit card stable from time to time can save your credit card from closure.

Often the bank’s guidelines for credit card holders are that there should not be any activity between three to 12 months. It is necessary for the credit card holder to inform the bank about the closure of the card within thirty days and so that he can get the information about the resumption of his card.

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What will happen if you do not use credit card for a long time?

Adhil Shetty, CEO, Bankbazaar, said, if the customer has not used the credit card under any circumstances within 12 months, it is important for the bank to have this information before taking any action.

According to the guidelines of RBI, if there is no financial transaction of any kind through the credit card in a year, then such things as statement generation, change of PIN, change in transaction and control of transaction are included. Even the card will not be noticed and which will have a direct impact on the credit score.

Important information regarding credit card

Not using credit card for a long time can be a risk. Shetty said, its impact can be in different ways. It depends on the previous transactions of the customer. Also, looking at the data, the percentage limit decides the usage of the card in a month.

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