Credit Survey Reveals Differences Between Millennials and Older Adults

Credit Survey Reveals Differences Between Millennials and Older AdultsThe Consumer Federation of America and VantageScore Solutions recently unveiled their fourth annual survey on consumers’ understanding of credit scores. The survey focuses on consumer knowledge of credit scores depending on demographics such as age and access to credit reports]

The study finds that millennials (those between the ages of 18 and 34) know less about credit scoring than older credit card holders. For example, millennials know less about which businesses use credit scores.

They also know less about who collects information on which the scores are based. In addition, many younger card holders are more likely to think credit repair companies can always or usually be useful in correcting errors and improving scores.

Here are some of the survey results:

Click here to read more

Source: Black Enterprise | Sheiresa Ngo

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