49.9% of consumers said in September 2026 that it is harder to get credit than it was a year earlier, up from 45.9% in August and 42.0% in September 2025. Only 8.4% said it was easier. Looking ahead, 48.8% expected getting credit to be harder a year from now.
The New York Fed’s Survey of Consumer Expectations asks household heads each month whether it is generally harder or easier these days to obtain credit or loans compared with 12 months ago, and whether they expect it to be harder or easier 12 months from now. Answers range from "much harder" to "much easier." The figures here add the "much" and "somewhat" answers together.
What changed
The share saying credit is harder to get peaked at 60.8% in September 2023, after the Federal Reserve raised interest rates sharply in 2022 and 2023, and then eased. It has climbed again over the past year. The September 2026 reading is well above the 2019 average of 27.5%, before the pandemic, and the lowest reading in the series was 23.5% in February 2020.
The New York Fed’s own summary of the September survey said perceptions of credit access compared with a year ago declined, while expectations for future credit availability were essentially unchanged.
Month by month, past year
| Survey month | Harder than a year ago | Easier than a year ago | Expect harder a year from now | Expect easier a year from now |
|---|---|---|---|---|
| Sep 2026 | 49.9% | 8.4% | 48.8% | 8.1% |
| Aug 2026 | 45.9% | 8.4% | 48.1% | 7.4% |
| Jul 2026 | 44.0% | 7.9% | 45.1% | 8.2% |
| Jun 2026 | 41.4% | 8.6% | 48.2% | 8.1% |
| May 2026 | 43.6% | 9.3% | 47.8% | 8.2% |
| Apr 2026 | 45.9% | 10.4% | 48.0% | 10.2% |
| Mar 2026 | 42.8% | 12.8% | 47.2% | 11.1% |
| Feb 2026 | 45.4% | 11.0% | 43.5% | 11.2% |
| Jan 2026 | 44.7% | 11.3% | 45.3% | 11.9% |
| Dec 2025 | 43.2% | 10.9% | 42.9% | 12.5% |
| Nov 2025 | 41.4% | 11.1% | 42.0% | 12.0% |
| Oct 2025 | 39.2% | 12.2% | 42.4% | 12.4% |
| Sep 2025 | 42.0% | 11.9% | 43.2% | 12.0% |
Yearly averages since 2013
| Year | Average share saying harder than a year ago | Average share saying easier | Months in survey |
|---|---|---|---|
| 2026 | 44.8% | 9.8% | 9 |
| 2025 | 42.6% | 10.4% | 12 |
| 2024 | 48.4% | 10.7% | 12 |
| 2023 | 57.8% | 8.7% | 12 |
| 2022 | 49.4% | 9.9% | 12 |
| 2021 | 36.4% | 17.2% | 12 |
| 2020 | 43.1% | 17.1% | 12 |
| 2019 | 27.5% | 24.5% | 12 |
| 2018 | 27.2% | 24.8% | 12 |
| 2017 | 29.9% | 22.5% | 12 |
| 2016 | 32.5% | 19.6% | 12 |
| 2015 | 32.9% | 23.0% | 12 |
| 2014 | 43.1% | 18.4% | 12 |
| 2013 | 48.6% | 18.0% | 7 |
Shares of respondents, combining "much" and "somewhat." The remaining respondents said "equally easy/hard." Yearly averages are simple averages of the monthly figures and are our calculation; 2013 starts in June and 2026 runs through September. The CSV has every month and all five answer choices.
Why it matters
This is a measure of perception, not of approvals. People who did not apply for credit still answer it, and their view can be shaped by news about interest rates. Still, perceptions matter: people who think credit is hard to get may put off applying, and how consumers feel about credit access often moves with lending standards and rates. Our page on people who need credit but do not apply looks at that directly, and credit denial rates shows how often applications are actually turned down.
What you can do if you are planning to apply for credit
- Check your credit reports for free at AnnualCreditReport.com and dispute errors before you apply.
- Know your score range. Many lenders let you check whether you prequalify with a soft inquiry that does not affect your score.
- Avoid several hard applications in a short time for different kinds of credit. When rate shopping for a mortgage or auto loan, scoring models usually treat multiple inquiries within a short window as one.
- Lower your credit card balances relative to your limits before applying; utilization is a major scoring factor.
- If you are turned down, the lender must tell you why or how to ask for the reasons. If a credit report played a part, you can get a free copy of it from that credit bureau if you ask within 60 days.
What these numbers are
The Survey of Consumer Expectations is a monthly, nationally representative internet survey of a rotating panel of about 1,300 household heads. Results are weighted by the New York Fed. Monthly shares can move by a few points from sampling alone, so small month-to-month changes should be read with caution. This page is not a New York Fed product, and the New York Fed does not endorse it.
Source
Source: Survey of Consumer Expectations, © 2013-2026 Federal Reserve Bank of New York (FRBNY). The SCE data are available without charge at http://www.newyorkfed.org/microeconomics/sce and may be used subject to license terms posted there. FRBNY disclaims any responsibility or legal liability for this analysis and interpretation of Survey of Consumer Expectations data.
Chart data workbook (FRBNY-SCE-Data.xlsx), sheet "Credit availability", downloaded October 19, 2026; September 2026 survey, fielded September 1 to 30 and released October 7, 2026. The combined "harder" and "easier" shares and yearly averages are our calculation. Our table is available under CC BY 4.0, which does not cover the New York Fed’s rights in its data. Credit "My Credit Guide (mycreditguide.org)".
Steven Reynolds, "Is Credit Getting Harder to Get? Consumer Perceptions, 2013-2026," My Credit Guide, October 19, 2026, https://mycreditguide.org/data/credit-access-perceptions/.