MOUNTAIN VIEW, Calif., Feb. 11, 2016 /PRNewswire/ -- Leading consumer credit and personal finance company Credit Sesame reports that men lead women in overall credit scores – even though they have more debt.
"We were surprised to find that men still maintain the advantage for securing credit – in every age bracket and nearly every U.S. market," says Adrian Nazari, Founder and CEO of Credit Sesame.
Select report results include:
- Men have higher credit scores than women overall. Though income is not technically a factor for calculating credit scores, men make more money and may have more flexibility to manage their credit. Nearly one in five, or 18% of women in this analysis, reported earning $75,000 or more annually, compared with 23% of men.
- The credit discrepancy widens with age. Though men have higher credit scores across all age groups, the gap is largest among those 65 and older, where men maintain a 15 point advantage.
- Men carry more credit card debt than women, with an average balance of $3,854. But because their credit limits are higher, they are using less of their available credit.
- Women are more likely to have five or more collection accounts than men, which can cause a significant drop in a consumer's credit score. In states including Nevada, Montana and West Virginia, nearly one third of women and over 20% of men have five or more collection accounts.
Click here for Credit Sesame's full "Credit Battle of the Sexes: Who Manages Credit Better and Why?" report. The report analyzed a subset of Credit Sesame's seven million members across the nation.
About Credit Sesame
Credit Sesame is a free personal finance service helping people effectively manage their credit and loans. As a strong consumer advocate, we give our users the free tools they need to make smarter financial decisions - 100% free credit score, report card, credit monitoring and bank-level analytics. Our users are empowered to take control of their credit and loans to better achieve their financial goals with minimal effort and maximum impact. www.creditsesame.com
SOURCE Credit Sesame