THIN FILE MILLENNIALS: ANYTHING BUT CONVENTIONAL THIN FILE Someone who has a limited credit history, typically 2 or fewer accounts. THICK FILE Someone who has an established credit history, typically 3 or more accounts. REVOLVING ACCOUNTS An account that allows you to borrow against an established credit limit, requiring minimum monthly payments.Credit cards, for example. Historically, people with more assets and higher incomes have thicker credit files and more credit usage. Lenders tend to view thick files as less risky than those with thin files. Thin file consumers typically have lower credit scores. Some lenders even exclude consumers with thin credit files, while others offer them subprime credit products. Unlike other generations, thin file Millennials generally have similar income and asset levels to their thick file counterparts. Trended credit data recognizes this shift in behavior and creates opportunity for responsible younger borrowers. Trended data attributes reveal patterns in credit behavior, creating a more predictive picture of consumer credit. EXPECTATION REALITY THE TRENDS THE FACTS THE GLOSSARY Silent Generation Baby Boomers Gen X Millennials Thin Thin Thin Thin Thick Thick Thick Thick ASSETS INCOME vantagescore.com Millennial borrowers are conservative when it comes to opening new credit accounts. This shows smart credit behavior. Millennials likely have the capacity to handle new credit accounts. Older credit scoring models put Millennials at a disadvantage. Millennials represent an untapped opportunity for lenders willing to be their champions. THE TAKEAWAY + + =