The younger generation is more active in keeping tabs on this important financial barometer
That’s according to a new survey by Chase, which found that almost 4 in 10 millennials age 21-36 review their credit score at least once a month. That’s compared to 31 percent for Generation X and 28 percent for baby boomers.
But keeping tabs on their credit score is only the first step for many of them. Indeed, 62 percent of the millennial respondents said they have a plan of action for improving their score, perhaps driven by the fact that a third of millennials reported they would buy a home within the next four to five years.
In contrast, only half of Generation X respondents and less than a third of baby boomers reported having a score improvement plan.
The Chase Slate 2017 Credit Outlook Survey consisted of an online survey of a nationally representative sample of 1,000 adults age 18 and older and two interview components that provided additional depth on millennial perspectives. The various data were collected from March to May 2017, with initial findings released July 13.
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