Millennials Have Lowest Credit Scores Of Any Generation
Millennials have had a difficult time establishing financial security. Many of them came of age during the housing crisis and subsequent recession, saddled with excessive student loan debt and a shrinking job market. The slow recovery from the Great Recession kept Millennials at a disadvantage – and a new study from Experian shows that they are still feeling the aftereffects.
Experian's data shows that Millennials have the lowest average FICO credit score of all generations that have had significant time to build a credit score. Millennials had an average FICO score of 665 on the 300-850 scale – the upper end of the fair credit range (580-669). That's a similar score to Generation Z (ages 18-22), who have had limited time to build a credit history of any kind.
Millennial credit scores lag far behind the average scores of the Silent G...
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