BOSTON–A new report suggest that the biggest risk to a credit union’s credit portfolio isn’t economic, but psychological.
The report, “Consumer Credit Economy: Strategy vs. Spontaneity—Navigating the Great Credit Divide,” from PYMNTS Intelligence in collaboration with i2c, explores what the organizations called a “silent but critical threat: Millions of eligible customers are self-excluding from the credit market based on assumptions, not facts.”
“This isn’t just a missed opportunity. It’s a systemic blind spot in how credit products are positioned, perceived and used,” PYMNTS Intelligence said. “Card issuers and other credit providers that can cut through the consumer perception gap, learn how their customers use credit and what’s important to them, and demonstrate the benefits of their specific credit products, stand poised to grow their revenues and customer base.”
Additional Findings
PYMNTS said the new report include additional findings on:
- The Psychology of Credit Self-Denial. “Learn why many consumers wrongly believe they’ll be denied credit and how this mental roadblock is holding back growth across income brackets.”
- The Evolution of Credit Behavior. “Explore how people use credit in dual roles as a strategic tool and an emergency lever, and what this means for designing high-engagement products.”
- What Features Consumers Will Actually Pay For. “Dive into consumer demand for flexible, personalized features and why even subprime users are ready to pay for control, customization, and clarity.”
For info, go here.
