New PROG Holdings Research Offers Insight into Near- and Below-Prime Consumer Behavior

Survey data explores the state of financial wellness among working Americans and frames flexible payments as essential financial tools

SALT LAKE CITY--(BUSINESS WIRE)--In recognition of Financial Literacy Month, PROG Holdings, Inc. (NYSE: PRG), a fintech holding company providing transparent and competitive payment solutions and inclusive consumer financial products, today released new research exploring the financial realities facing America’s near- and below-prime consumers. The research provides insights into how working Americans with limited financial flexibility are managing rising costs, economic uncertainty, and everyday financial decisions.

The research shows that most near- and below-prime consumers are employed and actively engaged in managing their finances yet continue to face pressure from broader macroeconomic conditions such as inflation, interest rates, housing affordability, and health care costs. It also suggests that consumers consider a range of tools and strategies as they seek to balance budgets, manage expenses, and make informed purchasing decisions.

Key findings include:

• 61% report working full‑time
• More than 80% say they are concerned about their personal financial outlook
• 25% skipped large purchases to focus on essentials

Inflation, interest rates, affordable housing, and access to healthcare rank among the top economic concerns for this group. Against this backdrop, the research highlights the growing role that having a variety of flexible payment solutions, including buy‑now, pay‑later and lease‑to‑own solutions, play in helping consumers manage expenses.

“The data shows that many people in our communities are navigating real financial tradeoffs as costs remain high,” said Steve Michaels, President and Chief Executive Officer of PROG Holdings. “Near-and below-prime consumers are making thoughtful decisions as they manage their purchasing behavior amidst ongoing macroeconomic shifts, and flexible payment solutions are proving to have a positive impact on this group’s ability to continue providing their households with products and services they need. The research also highlights the importance of transparency, flexibility, and choices as consumers evaluate payment options available to them.”

The PROG Holdings survey also sheds light on how payment flexibility influences purchasing behavior and financial confidence:

• 88% say flexible payment solutions are important when making purchases of $500 or more
• 86% are more likely to complete a purchase when flexible payment solutions are offered
• 80% are willing to spend more when flexible payment solutions are available
• 65% report that flexible payment solutions make them feel positive, reassured or relieved

“This research underscores the importance of improving consumer understanding and access to transparent payment solutions, particularly during Financial Literacy Month, when conversations around money management and overall well-being are top of mind,” said Michaels. “Amid high costs, flexible payment solutions continue to be an important tool as households navigate ongoing economic pressures.”

To view the research summary report and how this impacts today’s retailers, click here.

About the PROG Holdings Research

PROG commissioned a blind online survey of 770 U.S. consumers ages 18 and older with credit scores under 670, classified as near- and below-prime consumers, in late 2025. The survey margin of error is ±3.5%.

About PROG Holdings, Inc.

PROG Holdings, Inc. (NYSE: PRG) is a fintech holding company headquartered in Salt Lake City, Utah, providing transparent and competitive payment options and inclusive consumer financial products. The Company owns Progressive Leasing, Four Technologies, MoneyApp and Purchasing Power. More information is available at https://www.progholdings.com.