 TITLE: Millennials Record Highest Credit Score Increase in 2020 CONTENT: Millennials See Biggest FICO® Score Increase of Any Generation\n--------------------------------------------------------------\nWhere Gen Z was the frontrunner in the debt growth category, millennials led the pack in terms of average FICO® Score growth. This generation also saw the second biggest growth in total debt, and is tied with Generation X as the age group with the largest decrease in credit card debt in 2020.\n**_From Q3 2019 to Q3 2020_**:\n*   Millennials' average total debt balance increased by 9%.\n*   Millennials' average FICO® Score grew by 11 points.\n**_From Q1 2020 to Q3 2020_**:\n*   Millennials' average total debt balance increased by 3%.\n*   Millennials' average FICO® Score grew by nine points.\nMillennial consumers—ages 24 to 39—improved their FICO® Score by 1.6%, or 11 points, between Q3 2019 and Q3 2020, according to Experian data. That's the biggest increase of any generation, and is nearly three times larger than the generation's four-point growth from 2018 to 2019.\nSource: Experian\nSimilar to Gen Z debt, millennials saw the bulk of the increase in their score occur after the onset of the pandemic, between Q1 and Q3 2020, during which time the generation's average credit score grew by nine points. Millennials joined Generation X as the only two generations that improved their scores by more than 1%.\nLooking at debt, millennials also saw the largest decrease in credit card debt, reducing their balances by 14% between 2019 and 2020. It's notable that nearly all of this decline occurred between Q1 2020 and Q3 2020, emphasizing the fact that this decrease was out of the ordinary and likely spurred at least in part by the pandemic. END