Summary
Consumers are more fearful they will miss a payment. For the third month in a row, New York Fed survey finds increased anxiety.
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.
Your credit cards journey is officially underway.
Keep an eye on your inbox—we’ll be sending over your first message soon.
The October release of the Survey of Consumer Expectations found that Americans’ average expected probability of missing a minimum debt payment over the next three months rose to 13.4 percent, after also climbing the two previous months.
See related:New delinquencies rising for credit card users, New York Fed finds, Rejection of credit card applications rises, New York Fed finds, More infographics
Just six months earlier, the estimated likelihood of missing a payment dropped to 11.2 percent, its second-lowest reading in the survey’s four-year history. The low-water mark came two years ago, registering at just 10.9 percent in September 2015.
The current 13.4 percent probability still falls below a recent peak in late 2016, when the reading climbed to 14.9 percent, and it sits far below the survey’s highest reading of 17.2 percent, recorded in late 2013. Still, three upward monthly ticks is signaling increasing financial pessimism among consumers.
The New York Fed’s Survey of Consumer Expectations is a nationally representative, internet-based survey of a rotating panel of approximately 1,300 heads of household who participate for about a year. Results are released monthly, with the September data announced Oct. 10.
Editorial Disclaimer
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.
Join the Discussion
We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.
The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company’s business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.