More Americans expect credit requests to be rejected, NY Fed survey finds

Americans view the economic climate as getting harder, with an increasing count thinking they'll be rejected if they apply for a credit card, mortgage or car loan, the New York Federal Reserve said Monday.

The share of respondents that expect it to be harder to obtain credit a year from now jumped to 46.7% in February, the highest since June 2024, according to a survey by the New York Fed's Survey of Consumer Expectations (SCE). 

The share of discouraged borrowers — those who reported needing credit but not applying for fear of being denied — reached 8.5% in February, the highest percentage since the start of the SCE's survey in October 2013.