Consumer Pulse Study

Credit appetite rises

Plans to seek new credit or refinance existing credit in the next year rose to 33%, up from 30% in Q1 2025 and 31% a year ago. Interest was particularly strong among Gen Z and Millennials as 50% each reported plans to do so in the coming year, up from 47% last year for Gen Z and 42% for Millennials. While 62% of Millennials felt they have sufficient access to credit, just 56% of Gen Z felt the same, the lowest of all generations surveyed.

Consumers appeared to bolster their spending capacities. Those who said they planned to seek credit reported they’d apply for new credit cards (57%), increase available credit on existing cards (24%) and apply for new personal loans (23%).

Fraud-enabling scams most frequently used to target consumers

Scams designed to enable identity-based fraud — getting consumers to share sensitive information, unknowingly grant access to online accounts or send money to criminals — were the leading reported fraud schemes in Q2 2025. Phishing (fraudulent emails, websites, social posts, QR codes, etc. meant to steal data) and smishing (fraudulent text messages meant to trick someone into revealing data) were reported by 46% of those who said they were targeted — followed by vishing (fraudulent phone calls meant to trick someone into revealing data) at 34%.

Consumers’ reactions mixed to hearing their identities were compromised in a data breach

Consumers said identity theft (58%) was overwhelmingly the cyber threat of most concern. However, when notified their information was exposed in a data breach in the last three months, just 44% (the highest percentage) said they checked the affected account for unauthorized activity and only 40% changed the password on the affected account. Around one-third took steps to protect themselves by changing passwords on unaffected accounts (34%) and checking their credit reports for unauthorized trades like credit cards, auto loans and personal loans (35%).

Consumers slow to adopt proactive cybersecurity threat protections

Consumers appeared to be mostly reactive to cybersecurity concerns. While 45% reported changing passwords and 42% checked their credit reports in the last 60 days in response to cybersecurity concerns, just 14% said they enrolled in identity monitoring, 11% initiated credit freezes and 10% purchased identity theft/security protection. More than a quarter (27%) reported taking no action and of those, 47% said they did nothing because they were unsure what action to take.