Transunion: Millennials are Sub-Prime Credit Risks

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Transunion: Millennials are Sub-Prime Credit Risks

Jun, 11th 2017

If you’re a millennial, there’s a significant chance that your credit score is “subprime” — bad enough to make lenders think twice about doing business with you.

According to credit reporting agency TransUnion, 43% of borrowers ages 18 to 36 have a credit score of 600 or below on the 300-to-850 VantageScore scale. Here’s how that compares:

TransUnion’s statistics are based on a new analysis of about 10 million consumers’ VantageScores, a widely distributed score used by certain lenders to make underwriting decisions and by some consumers to track their credit standing. A VantageScore differs from a FICO score, and its ranges, from lowest to highest, are subprime, near prime, low prime, high prime and super prime.

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