Marqeta’s 2026 State of Credit Report found that 67% of consumers would replace their primary debit card with a flexible credential. This isn’t curiosity but preference, and the gap between what consumers want and what most card programs offer is widening fast.
What’s a flexible credential?
A single payment card that adapts to context. At checkout, the cardholder can pay with debit, draw on a credit line, split the purchase into BNPL installments, or combine funding sources. The form factor stays the same while the payment method changes. These products are live in market today, so the question for issuers is whether they’re positioned to deliver one.
Why consumers want them
Interest is strongest among younger consumers: 48% of 18 to 44 year olds are interested, and 60% of 18 to 34 year olds started their financial journey with a credit product, which makes them more attuned to flexibility. Consumers say they want to:
- Use the right payment method for each purchase without carrying multiple cards
- Access BNPL for larger purchases without opening a separate account
- Manage cash flow at the point of sale, not after the fact
- Avoid managing multiple provider relationships
Notably, 71% of consumers with multiple credit cards want to switch between credit products at checkout. They already have the products but can’t use them fluidly in one transaction.
The cost of not delivering
Consumers switch providers because of improved credit scores, life changes, or better rewards elsewhere, not because something went wrong. Providers won’t lose customers in a dramatic moment. They’ll lose them gradually, one contextual payment decision at a time, as customers reach for a different card when theirs can’t do what’s needed. With flexible credentials increasingly visible on social feeds, through peers, and at checkout, that moment is coming soon. With a flexible credential, the relationship deepens rather than fragments.
Marqeta platform data shows the shift is underway: through the first five months of 2025, BNPL average order values fell 9% year over year, while non-discretionary spend TPV rose more than 60% from 2023 to 2024. Consumers are folding BNPL into everyday spending.
The SMB opportunity
60% of SMBs are interested in flexible payment orchestration, with interest rising among growth-stage businesses. A single card that can pay a supplier on net terms, split an equipment purchase into installments, and draw on credit for operating expenses offers something no static card can. SMBs represent one of the largest untapped opportunities in credit today.
What issuers need to get right
The question isn’t whether to offer flexible credentials but when, and on what infrastructure. Providers that move now will win customers actively looking for this product, while those that wait will find them locked in with faster competitors.
- Infrastructure: A platform that handles multiple payment types, real-time decisioning, and dynamic credential switching through a single API. Stitching together separate debit, credit, and BNPL point solutions won’t deliver the seamless experience consumers expect.
- The credit product underneath: Programmable credit infrastructure that lets program managers set their own approval models, limits, and terms.
- The consumer experience: Switching at checkout must be effortless, or the experience fails regardless of the infrastructure.
The bottom line
When 67% of consumers say they’d replace their primary debit card, they’re describing a product they’d adopt from a provider they already trust. Those who respond with the right product on the right infrastructure will hold a durable advantage in consumer and SMB credit for the next decade.
Download the 2026 State of Credit Report to see the full data.