Good credit or TikTok fame? Young adults choose finances over followers

This story version has been formatted as an on-air script for broadcast outlets. See the original research story here.

WHILE TIKTOK CONTINUES TO MAKE ITS MARK ON THE YOUNGER GENERATIONS, HEALTHY CREDIT IS STILL AT THE TOP OF THEIR MINDS.

THAT’S ACCORDING TO A NEW SURVEY OF 500 GEN Z AND 500 MILLENNIALS WHICH REVEALED THAT NINE IN 10 MILLENNIALS WOULD RATHER HAVE AN ‘EXCELLENT’ CREDIT SCORE THAN 50,000 FOLLOWERS ON TIKTOK

EVEN INTERNET-ENAMORED GEN ZERS WOULD PREFER A CREDIT SCORE OF 750 OR HIGHER THAN THOUSANDS OF FOLLOWERS ON SOCIAL MEDIA (92% VS 8%).

CONDUCTED BY ONEPOLL ON BEHALF OF CREDIT SESAME, SURVEY RESULTS SHOWED THAT SOME AMERICANS MAY BE LATE TO THE CREDIT GAME — THE AVERAGE RESPONDENT ONLY STARTED BUILDING CREDIT AT 22.

GEN ZERS, HOWEVER, OPENED THEIR FIRST BANK ACCOUNT AT 19 AND BOTH STARTED TO PAY RENT AND GOT THEIR FIRST CREDIT CARD AT 20. 

EVEN SO, ONE IN 10 (10%) OF GEN Z DON’T HAVE A CREDIT CARD OR CREDIT SCORE.

Survey methodology:

This random double-opt-in survey of 500 Gen Z and 500 millennials was commissioned by Credit Sesame between Dec. 22 and Dec. 28, 2023. It was conducted by market research company OnePoll, whose team members are members of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).