From lower gas prices to potentially larger tax refunds, Consumer Reports has some glimmers of hope on the financial front in 2026.
Post-pandemic financial pressures are taking a toll on credit scores.
The Federal Reserve Bank of New York found Americans haven’t been this anxious about missing debt payments since the early shock of the COVID-19 pandemic in April 2020.
Consumers still squeezed by elevated post-pandemic inflation—and the debt that came with it.
Matt Schulz, LendingTree chief consumer finance analyst: “It is a challenging time, but it’s important for people to understand that they have more power over their money and over their interest rates than they think they do.”
LendingTree recently analyzed records of 100,000 users with exceptional credit scores of at least 800.
They found that those consumers had an average debt of $171,553, including mortgages, up 14% from October 2022.
Despite the bigger burden, those borrowers paid their bills on time every month. They kept credit utilization low, averaging just 5.5% of available credit.
And limited inquiries for new credit, averaging just 1.7 over two years.
All key elements, Schulz says, of a higher credit score.
“It doesn’t even have to be perfect credit, it doesn’t have to be an 800 credit score for you to basically have an awful lot of options when it comes to credit cards, mortgages, personal loans on down the line,” Schulz said.
In an uncertain labor market, improving a credit score could improve chances of a job or promotion.
Only 11 states have laws on the books that stop the use of credit reports in employment decisions.
There are exceptions for some roles.