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Research: For a generation just hitting the workforce, Gen Z has surprisingly good credit

  • Gen Z has higher average credit than Millennials and Gen X
  • But people born after 1996 will need more help in managing their finances.
Zoe Murphy | November 18, 2019
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Research: For a generation just hitting the workforce, Gen Z has surprisingly good credit

Generation Z may be a young generation but their average FICO scores are higher than Gen X and Millennials. That’s according to a recent survey conducted by LendingPoint of almost 5 million near prime people. For the generation born after 1996, the average FICO score is 637, compared to 629 and 632 for Millennials and Gen X respectively.

This is particularly interesting when you consider that a big component of credit scoring is the length of credit history, which, by definition, Gen Z currently has very little of.

 

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