The Relationship Between Millennials and Credit

by Hank Coleman

Here is a great infographic from the folks at discussing the relationship between millennials and credit. Why is their credit score below average? Here’s an interesting look at some of the details between millennials and credit.

The Relationship Between Millennials and Credit

Where Millennials stack up against the U.S. Credit Score
Average U.S. Credit Score: 695
Age: 19 to 34 had a 625 average credit score
Average debt (including mortgages) $52,120
Bankcard balance overage $3,403
Credit utilization 43%

Why Millennials scores aren’t as high as previous generations

– Spending after consolidating debt: 23% of Millennials would consolidate their debt to spend more money
– Loan use: 29% of Millennials would take out a personal loan for a vacation or wedding
– Lack of credit awareness: only 48% of Millennials are aware of their credit score
– Underemployment:20% of degree-holding Millennials earn less than $25,000
– Lack of investment: In 2014, only 38.6% of millennials held equity in stock

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Understanding the relationship between millennials and credit

This infographic is from the folks at

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About Hank Coleman

Hank Coleman is the founder of Money Q&A, an Iraq combat veteran, a Dr. Pepper addict, and a self-proclaimed investing junkie. He has written extensively for many nationally known financial websites and publications. Hank holds a Master’s Degree in Finance and a graduate certificate in personal financial planning. Email him directly at Hank[at]

Hank Coleman has written 578 articles on Money Q&A. Learn more about Money Q&A on Twitter @MoneyQandA and @HankColeman.

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{ 1 comment… read it below or add one }


I wonder how this will work out for millennials down the line?


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