THIN FILE MILLENNIALS: ANYTHING BUT CONVENTIONAL

THIN FILE

Someone who has a limited credit history, typically 2 or

fewer accounts.

THICK FILE

Someone who has an established credit history,

typically 3 or more accounts.

REVOLVING 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

credit scores.

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.

EXPECTATION

REALITY THE TRENDS

THE FACTS

THE GLOSSARY

Silent Generation

Baby Boomers

Gen X

Millennials

Thin Thin Thin ThinThick Thick Thick Thick

ASSETS INCOME

vantagescore.com

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.

THE TAKEAWAY

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