VantageScore Millennial-Infographic v4 · PDF file Millennial borrowers are conservative when...
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Transcript of VantageScore Millennial-Infographic v4 · PDF file Millennial borrowers are conservative when...
THIN FILE MILLENNIALS: ANYTHING BUT CONVENTIONAL
Someone who has a limited credit history, typically 2 or
Someone who has an established credit history,
typically 3 or more accounts.
An account that allows you to borrow against an established
credit limit, requiring minimum monthly payments.Credit
cards, for example.
Historically, people with more assets and higher
incomes have thicker credit files and more credit usage.
Lenders tend to view thick files as less risky
than those with thin files.
Thin file consumers typically have lower
Some lenders even exclude consumers with
thin credit files, while others offer them
subprime credit products.
Unlike other generations, thin file Millennials generally have similar income
and asset levels to their thick file counterparts.
Trended credit data recognizes this shift in behavior and creates
opportunity for responsible younger borrowers.
Trended data attributes reveal patterns in credit behavior, creating a more predictive picture of consumer credit.
REALITY THE TRENDS
Thin Thin Thin ThinThick Thick Thick Thick
Millennial borrowers are conservative when it comes to opening new credit accounts.
This shows smart credit behavior.
Millennials likely have the capacity to handle new credit accounts.
Older credit scoring models put Millennials
at a disadvantage.
Millennials represent an untapped opportunity
for lenders willing to be their champions.
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