LAS VEGAS (KTNV) — High interest rates, rising prices, and tighter lending standards could make 2026 a difficult year for anyone planning a major purchase, and financial experts say consumers need to be more credit-savvy than ever.
Shakeria Hawkins shows us how one local woman rebuilt her credit and the steps you can take now to protect yours.
For 74-year-old Ellen Strimling, rebuilding her credit became a long journey that began more than a decade ago.
“I filed bankruptcy,” she told us. “My credit rating went way down, to maybe 600 or 620.”
Strimling says her financial challenges began in 2013, when her husband passed away and left behind thousands in debt, most of it on credit cards. She spent years climbing back from that hardship.
“When he passed, unfortunately he left me with a lot of debt… especially credit card debt,” she said.
Today, she’s proud to share that her credit score is in the 800s, but she says staying cautious is key.
“I pay everything on time now. Never miss a payment,” Strimling said. “I had to purchase a car a month ago.”
Millions of Americans Facing Similar Challenges
A newly released national report from TransUnion shows millions of Americans are trying to rebuild or protect their credit at a time when borrowing is becoming harder.
High interest rates and stricter lending standards are expected to continue into 2026, making it more expensive to buy a home, finance a car, or open a new credit card.
Experts: Start Preparing for 2026 Now
Michele Raneri, Vice President and Head of U.S. Research at TransUnion, says consumers should start laying the groundwork now.
“Know what your credit looks like, and doing your best to increase that score is the important thing,” Raneri said.
She says the fundamentals still matter most:
- Pay your bills on time
- Avoid maxing out your credit cards
- Monitor your credit score and set alerts
- Compare loan options before borrowing
After a tough 2025 filled with personal losses and major life changes, Ellen is hopeful about the future.
“Between losing my job, losing my dog, and having to find a place to live… I’m looking forward to 2026,” she said.
For consumers like Ellen and millions of others, financial experts say being proactive with credit in the year ahead could make a major difference.
