Did You Know: Thin-File Millennials Aren’t as Risky as You Thought?


Date: April 01, 2019

Due to student loans, many millennials carry high amounts of debt. As a result, they are reluctant to acquire more debt and have fewer revolving credit accounts. While this type of credit activity can be deemed as less financially risky, it also results in millennials having a “thin file” (i.e., those with three or fewer credit accounts). In fact, many thin-file millennials have average income levels and assets similar to their thicker-file counterparts. And because they do have the income, they actually have the capacity to handle new accounts. Even millennial bankcard balances average half of the balances maintained by older members of the workforce. All of these factors make millennials a population worthy of credit consideration.

Below is a detailed infographic of who is defined as a “thin-file millennial” and the opportunities for credit within this population. If you’d like to share this infographic amongst your constituents, social media channels, etc., please contact us on LinkedIn.

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