Americans are struggling to make ends meet this holiday season as pandemic uncertainty remains, Elevate Center for the New Middle Class report says


FORT WORTH, Texas, December 21, 2021– (BUSINESS WIRE) – Elevate Credit, Inc. (NYSE: ELVT) (“Elevate” or “Company”), a leading technology provider of innovative and responsible online lending solutions for unprivileged consumers, today announced the results of a study that asked U.S. consumers about their financial health and economic sentiment. The results indicated that many Americans are still adjusting to the financial upheavals caused by the COVID-19 pandemic, many still hoping to look for another job, and others still without access to credit cards or bank accounts. ‘investment. Led by Elevate’s think tank, the Center for the New Middle Class (CNMC), the survey results were reported in the latest edition of CNMC’s Nonprime Tracker, which tracks differences and similarities in sentiment. financial, attitude and behavior of consumers with and without – top credit ratings.

The report, which surveyed more than 19,000 Americans over three years, found notable results among privileged and non-privileged consumers:

  • Unemployment among unprivileged Americans, or those with a credit score below 700, continues to exceed pre-COVID averages, while prime consumers experience steady growth in unemployment.

  • While prominent Americans may have taken their careers to the start of the pandemic, unprivileged Americans are just beginning to seek other employment opportunities.

  • Overall, Americans feel less financially secure than a year ago.

  • However, more households are reporting having an investment account, exposing more Americans to the economic growth brought about by a booming stock market.

Extraordinary spending, or those that disrupt household finances in a sudden and often prolonged manner, hit major consumers the most in the fourth quarter of 2020. Although this group has since seen a recovery close to pre-pandemic levels, data from November 2021 suggests that spending could increase. again, possibly due to vacation expenses.

“Our latest study illustrates how first and second-tier Americans continue to be resilient and resourceful, even as COVID persists,” said Jonathan Walker, executive director of CNMC. “The economic uncertainty of the past two years is now a constant in the lives of many, but we are seeing that people have adjusted to this new normal and taken action to stay on track and achieve their financial goals.”

Link to the full report:

About the Center for the New Middle Class
Elevate’s Center for the New Middle Class conducts research, engages in dialogue and establishes cooperation to generate an understanding of the behaviors, attitudes and challenges of America’s growing “new middle class”. For more information, please visit:

About the elevation
Elevate (NYSE: ELVT), working with the banks that license its marketing and technology services, has to date granted $ 9.5 billion in unprivileged credit to more than 2.6 million non-privileged consumers. privileged and has saved its clients over $ 8.8 billion over the cost of payday loans. Its responsible and technological online lending solutions provide immediate relief to today’s customers and help them build a brighter financial future. The company is committed to rewarding borrowers for good financial behavior with features like interest rates that may drop over time, free financial education, and free credit monitoring. Elevate’s suite of revolutionary credit products include RISE, Elastic, and Today Card. For more information, please visit

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