93% of millennials are aware of their credit score, according to Discover’s Credit Health survey
Millennials have a reputation for not being the most savvy with their finances, but Discover’s annual Credit Health survey found they’re the generation most aware of their credit score. About nine in 10 (93%) millennials (ages 18 to 34, according to this survey) know their credit score, which is a huge jump from 57% in 2017.
This increased awareness can be attributed to the numerous tools available that make checking your credit score so accessible, Stefanie O’Connell, personal finance expert, tells CNBC Select.
Additionally, she says that many millennials are coming of age and need to check their credit for major milestones, such as renting an apartment or taking out a lease.
In comparison, 79% of Gen X (ages 35 to 54) and 73% of boomers (55 and older) are aware of their credit score. Millennials are also the most likely to believe their credit standing has an impact on their day-to-day life (78%), compared to just 52% of Gen X and 35% of boomers.
Monitoring tools, like cookies, are in use. Continued access to this site indicates your acceptance of Cookie settingsAcceptNo
GDPR & CCPA Notices
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.