Study finds lack of track record rules out cheap credit and drives them to high-cost loans, which in turn lowers scores furtherMillennials are missing out on the boom in cheap credit and using expensive payday loans, because poor credit scores lock them out of the best deals.Borrowers born between 1982 and 2004 are typically paying a higher rate on loans and credit cards than those born earlier, according to analysis of more than 150,000 credit files. Continue reading…
Source : theguardian.com
Read more…Credit score ‘catch-22 pushes millennials towards payday loans’















