42% of Consumers Think They’ll Be Denied a Credit Card. Many are Wrong.

Consumer Credit Economy: Strategy vs. Spontaneity—Navigating the Great Credit Divide

Think the biggest barrier to credit is rejection? Think again. A surprising number of consumers, including high earners, are disqualifying themselves before they ever fill out an application. In “Consumer Credit Economy: Strategy vs. Spontaneity—Navigating the Great Credit Divide,” PYMNTS Intelligence and i2c quantify the drivers of this silent dropout and its implications for the future of credit.

Inside the September Report
  • Financial institutions can drive greater consumer engagement by addressing misperceptions, emphasizing credit education and offering differentiated, benefit-rich credit solutions.
  • Even consumers with prime credit scores overestimate their likelihood of credit denial, leading to widespread self-exclusion from credit markets.
  • Consumers will pay for certain premium features, and Gen Z, millennials and high-income users know what they want in a credit experience.

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