How do the Generations Use Credit?

In terms of credit scores, iGens (born 1996/later) have the lowest average scores, with Boomers and those older than them (ages 50-plus) had the best. Gen X is dead center. That’s as you might expect, since length of credit history and practical experience managing credit products contribute quite a bit to the credit score formulas.

To make things clear, iGen, Gen Z or Centennials were born 1996 and later. Millennials or Gen Y are those born 1977 to 1995. Generation X: Born 1965 to 1976. Baby Boomers: Born 1946 to 1964.

However, older generations are increasingly carrying debt into retirement, including 80 percent of baby boomers, according to the Pew Charitable Trust report, “The Complex Story of American Debt.”

According to experts, “Society has overlooked the unlucky generation wedged between boomers and millennials… Gen X were the children of divorce in large numbers. They have families they have to take care of, a weak job market, and parents who have never really supported them much financially.” For more see

Add that the fact that many bought homes only to lose value during the recession, and this group hasn’t caught much in the way of an economic break.

Despite all the gloom, a silver lining is that more people of all ages have learned about pawning.

Be wary about co-signing loans for your children or grandchildren. If you have the financial wherewithal, you’re better off lending money to relatives on a personal basis, says McCarthy. As a co-signer, if the borrower doesn’t pay, your credit reputation and finances are on the hook. A June 2016 poll by found that almost 4 in 10 co-signers have to repay some or all the loan from co-signed loans gone wrong.

“With popular television shows on the History Channel and truTV, pawn shops and their growing popularity have seen steady growth.  In fact, according to Emmett Murphy, spokesman for the National Pawnbrokers Association, “We’ve been going through a renaissance in the past few years.” Reflecting today’s tough economic times, the association’s 2,000 members now loan an average of $150 a customer, up from $85 in 2009.” (

Want to learn about pawning? We’ll give you an Education. Perhaps you are thinking about pawning your gold or silver, but have no idea how to do it. Get ready, we’ll show you how.
How do you find the best price for your valuables? Wondering if you should sell silver or gold to a jeweler? You are not alone!

There is no need to deal with the TV guys who pay for your valuables weeks later in checks. A legitimate pawnbroker will pay you on the spot. You can sell your valuables, or pawn them for a cash loan.

Please visit our website to Learn how to Get A Cash Loan in Three Easy Steps.

(Graph source:


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