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From Generation to Generation

Where Does Your Generation Use The Most Credit? While every generation finds the largest portion of their debt attributed to mortgages, there is an apparent credit gap when comparing the generations' credit habits to each other and the national averages. Wonder how debt numbers and credit scores rank by generation? Greatest Generation Baby Boomers Generation х Generation (age 66+) (age 47-65) (age 30-46) (age 19-29) REDUCING overall debt STRONG & STEADY in pursuit of HIGHEST amount of debt BUILDING CREDIT with student HIGHEST credit scores SECOND TO LOWEST credit scores the American loan and auto Dream loan payments Average Debt $111,121 $101,951 42.42% ABOVE AVERAGE 30.66% ABOVE AVERAGE Average Debt $78,030 $38,043 VantageScore is $34,765 51.25% BELOW AVERAGE based on the 55.45% BELOW AVERAGE traditional A, B, C, Dand F rating scale. VantageScores All credit scores are measured in a numeric 10.39% ABOVE AVERAGE range, from 501 to 990. 829 4.13% ABOVE AVERAGE 782 Average VantageScore 751 4.39% BELOW AVERAGE 718 VantageScore Guide 10.52% BELOW AVERAGE 672 900-990 800-899 Largest portion of debt spent on 1st & 2nd mortgages Equal or under $$ 42% more national averages in every category except 2nd mortgages overall debt than other generations 60% of debt going into mortgages 700-799 $ Bankcard debt 43% higher than the national Tiny bit over national average on 1st mortgage debt (about 5%) $ 100% over average with retail cards (where they're 23% over national average) 600-699 $$ Good credit Managing their debt well 501-599 average 14% over average on student loans 136% over average on auto loans 420% over average on student loans, their biggest debt For more information, visit Experian® is the leading global information services company, providing data and SSURCE: analytical tools to clients in more than 80 countries. The company helps businesses Experian- File OneSM consumer to manage credit risk, prevent fraud, target marketing offers and automate decision credit database and making. Experian also helps individuals to check their credit report and credit score supported by publicly available information from and protect against identity theft. the US Census. © 2012 Experian Information Solutions, Inc. All rights reserved. Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners. Experian F.

From Generation to Generation

shared by rmmojado on Mar 23
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From young adults beginning to learn the ropes of financial independence to those embarking on the golden years of retirement, Americans vary widely in how much debt they take on, the types of debt th...


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