Afloat, but not ahead: what a survey of Americans told us about banking, credit, and getting ahead
A national survey of 2,001 US adults reveals widespread financial dissatisfaction, with 63% feeling they are falling behind despite using traditional banking and credit products.
A national survey of 2,001 US adults, commissioned by Kraken and conducted by Morning Consult, found that 63% of Americans feel they are financially falling behind compared to expectations for their age. This sentiment spans income levels, affecting 68% of those earning $50,000 or less and 49% of those earning $100,000 or more. Only 41% of adults reported feeling financially stable, with stability increasing sharply among higher earners.
The survey highlights a disconnect between how financial products are marketed and their perceived utility. While 87% of adults are satisfied with their primary checking account provider, 58% express frustration with traditional banks due to high fees (23%), limited debit rewards (22%), and slow transfers (16%). Only 46% believe their bank helps their money grow meaningfully over time, reflecting a broader dissatisfaction with the system's inability to foster progress.
Credit cards are viewed as the primary path to rewards, with 47% of Americans agreeing they are the only way to access meaningful rewards. However, 42% of credit card holders worry about paying off balances, and 64% are frustrated with existing rewards programs due to high fees, low cashback rates, and complex redemption processes. The frustration is most pronounced among higher-income earners, with 74% reporting dissatisfaction.
The survey also reveals that 30% of Americans do not own a credit card, citing reasons such as a preference for cash or debit (40%), ineligibility due to credit history (23%), or a desire to avoid debt (22%). The findings underscore a gap in financial products that balance day-to-day management with long-term wealth-building, particularly for lower-income earners.