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Record 25% Rejection Rate for Consumer Credit Applications

11/19/2025

36 6 Full Breakdown

Summary

Story summary

The New York Federal Reserve reported in November 2025 a record high rejection rate for consumer credit applications, reaching nearly 25%.
Credit product rejection rates rose to 24.8%.
Credit card application rates increased slightly.
Forty-two percent of consumers doubt approval for new cards despite a 15% denial rate.
Experts say banks are tightening lending standards, making it harder for borrowers with lower credit scores to secure loans.

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Story summary

The New York Federal Reserve reported in November 2025 a record high rejection rate for consumer credit applications, reaching nearly 25%.
Credit product rejection rates rose to 24.8%.
Credit card application rates increased slightly.
Forty-two percent of consumers doubt approval for new cards despite a 15% denial rate.
Experts say banks are tightening lending standards, making it harder for borrowers with lower credit scores to secure loans.