BOSTON–Gaining “top of wallet” card status is discussed often in credit unions, and a new study offers insights into why it pays to be on top.

With nearly eight in 10 U.S. consumers holding multiple cards, a new analysis finds shoppers spend an average of nearly $2,000 each month on their preferred card. This compares to just above $1,200 for their second-choice cards and more than $900 for those in third place, according to the “Credit Economy: Top-of-Wallet Credit Cards” study by PYMNTS.com.

A Surprise

“Surprisingly, the top-of-wallet dynamic strengthens when consumers own three or more cards. These shoppers concentrate their spending on one primary card rather than spreading it out more evenly, especially for their routine purchases,” PYMNTS.com said in announcing the study’s results. “Younger consumers show especially strong interest in having greater control over their spending and payments. For example, nearly half of Generation Z cardholders say they would use their primary card more often if they could choose from several payment options when they are at the checkout.

“The study was conducted by PYMNTS Intelligence and i2c and draws on insights from a survey of 2,275 United States consumers conducted from March 4-31, 2025.