The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.
Will it be easier to get credit a year from now? The New York Federal Reserve’s new “Survey of Consumer Expectations
” posed that question to consumers between June and December 2013. The results show that little has changed in those six months, with more people saying access to credit will get harder than those saying it will get easier.
The survey tracked a slight increase (from 0.65 percent in June to 1.37 percent in December) in those who thought credit access would get much easier in the next year. However, the bulk of participants didn’t think easier credit would make a comeback. Only 20 percent said credit accessibility would get much easier or somewhat easier, while twice as many (about 40 percent) said it would become much or somewhat harder. Another 40 percent, meanwhile, said credit conditions were unlikely to change.
The Survey of Consumer Expectations, which the New York Fed will release every month going forward, surveyed 1,200 heads of household online. In addition to credit conditions, survey participants were asked about the job market and inflation.
Survey participants were asked to predict credit availability a year from now.
See related:Credit card application rejected? 3 steps to getting next one approved, More infographics
To use the graphic on your site, use the following code:
<center><a href=”https://www.creditcards.com/credit-card-news/infographic-consumers-expect-credit-to-stay-tight-1701/”><img alt=”CreditCards.com infographic: Consumers expect credit to stay tight” border=”0″ src=”https://www.creditcards.com/credit-card-news/images/infographic-consumer-expectations.jpg” /></a> </center>
The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.