Survey Finds Credit Scores Higher Priority for Millennials

Jul 19, 2017

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Millennials catch a lot of heat. But, for the most part, they’re interested in improving their credit health — at least according to a new survey from Chase.

The Chase Slate 2017 Credit Outlook survey found that more Millennials check their credit scores every month (39%) than Gen-Xers (31%) and Baby Boomers (28%). In addition, the survey found that 62% of Millennials want to improve their credit score and have a plan of action to do so. Looking forward, they also plan to put their improved credit score to use. About 33% of Millennials say they plan to buy a home in the next four to five years, and 24% plan to purchase one within the next three years.

“Millennials are really doing their homework in preparation for buying a home in the near future,” said Mical Jeanlus, the general manager of the Chase Slate Credit Card.

The Chase Slate 2017 Credit Outlook Survey polled 1,000 people aged 18 and older between March 15 and April 3, 2017. The survey was conducted by Socratic Research, an independent research company, on behalf of Chase Card Services.

The findings from the Chase Slate survey are pretty interesting — and promising for the cohort. Not only can the improved credit score help in the sense of preparing for the future and buying a house, but also for valuable points and miles you can earn from credit cards. In order to get into the points and miles hobby and maximizing on sign-up bonuses, the first step is to understand your credit score. Check out this post for more ways on how to improve your credit score in 2017.

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