Nearly 2 in 5 Americans Expect to Rely on Credit to Manage Expenses as Inflation Hits 3.7%, NerdWallet’s Consumer Financial Resilience Index Finds
Business Wire•20/10/2026•09:00 ET
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Key Highlights
- ➤38% of Americans expect to rely on credit for some October expenses
- ➤54% of parents with minor children expect credit reliance, up from 44%
- ➤Consumer prices rose 3.7% year over year in September, up from 3.4%
- ➤NerdWallet’s Financial Resilience Index rose to 61.6 from 61.5
- ➤65% of Americans expect a U.S. recession within 12 months
Expert Statements
Kimberly Palmer, Personal finance expert at NerdWallet
“Turning to credit to get through the month isn’t unusual when prices are climbing, but it gets more expensive when rates are rising too.”
Kimberly Palmer, Personal finance expert at NerdWallet
“If you’re carrying a balance, put extra payments toward the card with the highest APR first, and ask your issuer about a lower rate or look into a 0% balance transfer offer.”
Kimberly Palmer, Personal finance expert at NerdWallet
“Even small steps now can save real money if the Fed hikes again.”
Nearly 2 in 5 Americans Expect to Rely on Credit to Manage Expenses as Inflation Hits 3.7%, NerdWallet’s Consumer Financial Resilience Index Finds
Parents and younger adults are among the most likely to rely on credit this month, and another Fed rate hike anticipated before year-end could raise borrowing costs
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