Americans Swipe Left When It Comes to High Credit Card Debt
August 14 2017 - 9:46AM
Business Wire
Chase Slate® 2017 Credit Outlook reveals when
it’s too early, too late to talk about finances
Americans have a thing or two to say about finances – especially
for summer romances now in full swing, according to the Chase Slate
2017 Credit Outlook.
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View the full release here:
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Dating, Relationships & Credit
(Graphic: Business Wire)
“When it comes to relationships, many Americans are unwilling to
compromise on credit health, and for a good reason,” said Mical
Jeanlys, General Manager of the Chase Slate credit card. “Credit
plays a critical role in everything – from securing a loan to
qualifying for competitive interest rates.”
Here’s what Slate uncovered:
- High credit card debt is a
deal-breaker. 37% of Americans say that credit card debt is a
reason to think less of a significant other.
- Finances are not fair game. Only
1% of women are willing to discuss finances on a first date, while
men are more open to discussing them at 15%.
- Money talk is off-limits, until it’s
serious. 34% of Americans say finances should be discussed as
soon as things get serious.
- Millennials know their scores.
Married Millennials (58%) are more likely to know their partner’s
credit score than other generations – married Gen Xers (44%) and
married Boomers (38%).
“Credit health and relationships share at least one thing in
common – both require commitment,” said Farnoosh Torabi, a
personal finance expert and Chase Slate Financial Education
Ambassador. “Before taking the next big step with a potential
partner, have a conversation about credit. If you discover that one
of you has less than stellar credit, but you are both committed to
improvement, then you can begin working together to raise your
partner's score by paying monthly bills on time or prioritizing
debt reduction.”
About Chase Slate
With no annual fee, a low introductory APR on purchases and
balance transfers, and tailored insights into your credit behavior,
Chase Slate empowers customers to manage their finances wisely now
and in the future. Through the Chase Slate Credit Dashboard,
customers receive access to their FICO® Score, the top positive and
negative factors impacting it and tips for improving their credit
health overtime for free every month. The feature is available to
customers online at Chase.com.
About the Chase Slate 2017 Credit Outlook Survey
The Chase Slate 2017 Credit Outlook was commissioned on behalf
of Chase Card Services. A survey, Online Discussion Board and Video
Diary Research were conducted on behalf of Chase Card Services, by
Socratic Research, an independent research company. Survey
interviews were conducted online from March 15 – April 3, 2017
among a nationally representative sample of 1,000 respondents age,
18 and older. The credibility interval for a sample size of 1,000
is +/- 3.6% and larger for subgroups.
Online Discussion Board interviews were conducted from April 18
– April 21, 2017 among 34 Millennials, ages 21-36, and the Video
Diary Research interviews were conducted from April 26 – May 5,
2017 among 20 Millennials, ages 21-36. Both the Online Discussion
Board and Video Diary Research were conducted nationally among
Millennials who are recent or future homebuyers.
About Chase
Chase is the U.S. consumer and commercial banking business of
JPMorgan Chase & Co. (NYSE: JPM), a leading global financial
services firm with assets of $2.6 trillion and operations
worldwide. Chase serves nearly half of America’s households with a
broad range of financial services, including personal banking,
credit cards, mortgages, auto financing, investment advice, small
business loans and payment processing. Customers can choose how and
where they want to bank: 5,200 branches, 16,000 ATMs, mobile,
online and by phone. For more information, go to Chase.com. For
more information about Chase Slate, go to ChaseSlate.com. Also,
Chase offers consumers the opportunity to monitor their credit
score at no cost through Credit JourneySM.
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version on businesswire.com: http://www.businesswire.com/news/home/20170814005588/en/
Chase Card ServicesClarissa
CarlucciClarissa.Carlucci@JPMorgan.com
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