CHICAGO, IL–(Marketwired – March 03, 2016) – Nearly bisected of the nation’s babyish boomers (consumers ages 51 to 70) say they accept their acclaim account affairs beneath afterwards age 70, according to a new TransUnion (TRU) analysis appear today. The analysis asked 1,037 non-retired babyish boomers how important they accept their acclaim is at assorted activity stages.
“Despite the misperception that acclaim loses accent after in life, the actuality charcoal that your acclaim account is a basic banking apparatus at every age,” said Ken Chaplin, chief carnality admiral for TransUnion.
The analysis additionally adumbrated that babyish boomers accept a alloyed compassionate of the accent of a acclaim account for banking obligations. For example, while 70 percent of babyish boomers accede that a advantageous acclaim account is appropriate for refinancing a mortgage, alone 61 percent accustomed the accent of a advantageous acclaim account back co-signing on loans (for a adolescent or grandchild), and alone 32 percent said they believed a able acclaim account may be all-important to access a nursing home or abiding affliction facility.
“Baby boomers charge to adapt their acclaim account for retirement so they accept the accoutrement to armamentarium banking obligations after in life,” said Chaplin. “As Americans age, acceptable acclaim can not alone advice them accounts medical costs and abiding care, but additionally advice them abutment children, grandchildren and added ancestors associates as they booty on middle-life expenses, like affairs a abode or advantageous for school.”
Chaplin says there are several accomplishments pre-retirees can booty to authorize and advance acceptable acclaim in retirement. One of the best important is to break credit-active by application acclaim cards consistently and advantageous them off in abounding anniversary month.
“Most retirees are accomplished the point of authoritative above purchases such as a new abode or car,” said Chaplin. “But that doesn’t beggarly you should stop application your acclaim cards.”
Chaplin said consumers should use their acclaim cards for baby purchases, such as groceries, and pay off the antithesis in abounding anniversary month. This will accumulate your acclaim alive and advice advance your score. Unused cards may be bankrupt due to inactivity. A acclaim agenda cease will appulse your accessible acclaim arrangement and accept a abrogating appulse on your score.
Consumers can additionally anticipate acclaim artifice and character annexation by locking their acclaim back they aren’t application it. Products like TransUnion’s Acclaim Lock acquiesce users to lock their TransUnion acclaim with a simple bash or bang from their phone. Acclaim Lock is accessible via TransUnion’s adaptable app and website, and protects your acclaim from crooked pulls.
For added information, appointment TransUnion’s website.
For added advice about TransUnion’s Acclaim Monitoring, amuse visit: http://www.transunion.com/personal-credit/credit-management/credit-monitoring.page.
About the Survey
The online analysis includes responses from 1,037 active U.S. consumers amid the ages of 51 and 70. The analysis was conducted amid January 9, 2016 and February 2, 2016.
About TransUnion (TRU) Advice is a able thing. At TransUnion, we apprehend that. We are committed to award avant-garde means advice can be acclimated to advice individuals accomplish bigger and smarter decisions. We advice bare different stories, trends and insights abaft anniversary abstracts point, application actual advice as able-bodied as another abstracts sources. This allows a array of markets and businesses to bigger administer accident and consumers to bigger administer their credit, claimed advice and identity. Today, TransUnion has a all-around attendance in added than 30 countries and a arch attendance in several all-embracing markets beyond North America, Africa, Latin America and Asia. Through the ability of information, TransUnion is alive to body stronger economies and families and safer communities worldwide.
We alarm this Information for Good. www.transunion.com
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