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58% of Millennials in U.S. have been denied at least one financial product

Christian Fernsby |
58% of Millennials (ages 23-38) have been denied at least one financial product due to their credit score, as found in a recent survey by Bankrate.com.

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Topics: MILLENNIALS    U.S.    FINANCIAL   

In comparison, a combined 35% of Gen X (ages 39-54), Baby Boomers (ages 55- 73) and the Silent Generation (ages 74+) have been denied the same.

Among all U.S. adults who reported their experience with credit denials, 41% have been denied a financial product due to their credit score.

Confidence notably increases with age, with only 25% of Gen Z (ages 18-22) being very confident they know their scores.

43% of Millennials are very confident that they know their score compared to a combined 54% of older generations (Gen X, Baby Boomers and the Silent Generation).

On average, 49% of Americans across all age groups are very confident they know their credit score.

When it comes to recognizing the importance of their credit score, 53% of women say their score is very important to them while just 44% of men feel the same way.


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