Experian’s latest annual State of Credit analysis provides insight into the differences in credit habits by generation. While the youngest group, Millennials, appear to be novice credit managers, Generation Xers have the highest amount of average debt, are slowest to make payments on time and tied with Millennials for highest percentage of credit utilized. The results of the study reinforce the importance of lenders providing transparent consumer education on credit scores and responsible credit behavior. Snapshot of generational debt differences Baby Boomers (47 to 65) Generation X (30 to 46) Millennials (19 to 29) VantageScore® credit score 700 653 628 Average debt $29,317 $30,039 $23,332 Average balance of bankcards $5,347 $5,343 $2,682 Average revolving utilization 30% 37% 37% Late payments 0.33 0.61 0.58 Download our recent Webinar: It’s a new reality … and time for a new risk score Source: Experian’s State of Credit infographic

Data quality should be a priority for retailers at any time of the year, but even more so as the holiday season approaches. According to recent research from Experian, organizations feel that, on average, 25 percent of their data is inaccurate and 12 percent of departmental budgets are wasted due to inaccuracies in contact data. During the 2013 holiday season, consumer spending is expected to increase by at least 11 percent. Retailers need to improve data quality early on in order to ensure that relevant holiday offers reach consumers and to take advantage of the expected increase in consumer spending. View our recent Webinar: Unique insights on consumer credit trends and the impact of consumer behavior on the economic recovery Source: View our data quality infographic: ’Twas the month before the holidays

The credit appetite for small businesses is strong and growing. Total outstanding balances have risen at their fastest rate in two years, and delinquency rates have fallen at a consistent pace. Only 10 percent of outstanding small-business credit balances were past-due in Q3 — the lowest level of delinquency seen since the recovery began. While this is an encouraging sign, it is important to note that these improvements have come at the cost of hiring new employees and investments. Sign up for the Quarterly Business Credit Review Webinar on Dec. 10 Source: Download the full Experian/Moody’s Analytics Small Business Credit Index report.