Young people love good credit for social media users

As TikTok continues to influence young people, maintaining a healthy score remains a top priority.

A new survey by Credit Sesame and OnePoll of 500 Gen Z and 500 millennials found that nine out of 10 millennials want an “excellent” score over 50,000 followers on TikTok.

Even Generation Z values ​​a score of 750 or higher over amassing thousands of social media followers (92% vs. 8%).

The survey states that the average American starts building credit at age 22.

Millennials open a bank at age 21 and get their first credit card at age 23.

On the other hand, members of Generation Z opened their first bank at the age of 19 and started paying rent and got their first credit card at the age of 20.

However, 10% of Gen Z respondents do not have a credit card or credit score.

The data also shows that the economy in financial education can lead to a lack of knowledge of the American people.

42% of respondents rated their perception of credit scores as poor, and 44% believed the average credit score in America was below 650.

In addition, a third expressed doubts that checking their credit score would affect them, and 19% could not differentiate between the terms of debit and credit.

Interestingly, 65% of respondents thought about managing their credit score.

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