Survey Finds Credit Scores Higher Priority for Millennials

Jul 19, 2017

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

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.

Chase Sapphire Preferred® Card

WELCOME OFFER: 80,000 Points

TPG'S BONUS VALUATION*: $1,600

CARD HIGHLIGHTS: 3X points on dining and 2x points on travel, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

Apply Now
More Things to Know
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®.
  • Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
  • With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Regular APR
16.24% - 23.24% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent/Good

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.