VantageScore Solutions LLC, the company behind the VantageScore credit scoring model, announced Thursday the results of a consumer survey that found Millennials, those between 18 and 34 years old, remain cautious about key life events years after the recession.

Millennials constituted 20% of the survey respondents and nearly half of them said they have delayed purchasing a home, are living with family to save money or have delayed starting families of their own.

The survey, commissioned by VantageScore Solutions and conducted by FTI Research Inc., polled a sampling of more than 1,000 U.S. consumers about credit usage, attitudes toward credit and debt and where they seek information about credit-related issues.

While there were clear differences on these life events among respondents across all age groups, reluctance to take on new debt was consistent among a majority of survey participants. More than 60% reported that they are less likely to take on debt and nearly 50% said they were just keeping up with their debts or falling behind.

Other findings from the survey include:

· One-third of consumers seek information about their credit score online;
· 20% said they have no debt whatsoever;
· 30% said they carry over credit card debt from one month to the next.

"This survey demonstrates that consumers’ financial lives remain somewhat challenged and that Millennials, in particular, appear apprehensive about things like purchasing homes and starting families," said Barrett Burns, president and CEO of VantageScore Solutions. "The good news is that there are many resources available to help educate consumers, and we know that the Internet tends to be where consumers turn to the most for answers."

About the survey:

In June 2014, FTI Consulting conducted a survey of 1,003 American adults aged 18 or older on behalf of VantageScore Solutions. The field period for the study was June 24 – June 30, and 1,003 interviews with adults were collected via the internet. The online study was designed to be representative of the overall U.S. population and was balanced to reflect the U.S. census on age, gender, income, ethnicity and region.

About VantageScore Solutions:

VantageScore Solutions provides information for consumers about credit scoring. The VantageScore consumer website, YourVantageScore.com, offers information on consumer-credit issues. Other resources include:

· VantageScore.com/myths dispels widespread misconceptions about credit and credit scores.

· ReasonCode.org explains the credit-score notifications consumers may receive from lenders, and provides guidance on using them to improve credit scores.

· CreditScoreQuiz.org, which provides an interactive tutorial on credit scores, how they affect access to credit, and how consumers can improve their scores.

VantageScore Solutions is an independently managed company that owns the intellectual property rights to the VantageScore credit scoring models, including the VantageScore 3.0 model, which provides up to 25% predictive improvement over earlier models and has the ability to formulate a score for 30 – 35 million previously unscoreable consumers.

Initially developed by America’s three national credit reporting companies (CRCs) — Equifax, Experian and TransUnion — VantageScore Solutions’ highly predictive models use an innovative, patented and patent-pending tri-bureau scoring methodology that provides lenders and consumers with more consistent credit scores across all three national credit reporting companies.

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