How Credit Reliant Are Henrys?

Data-driven Marketing

Last month, we started to get to know Henrys (High earners, not rich yet). While this group of under 55 year-olds earns annual incomes of more than $100K, they have yet to amass investable assets of $1M.

To help better understand why they haven’t yet been able to build up sizeable nest eggs, we wanted to explore their credit habits and also compare them to affluent households with over $1M in investable assets. How reliant on credit are Henrys and how do they stack up? Let’s take a closer look:

How Credit Reliant are Henrys?

Source: CreditStyles Pro®, Financial Cohorts® and data provided by Gfk MRI

Henry Credit Trends

From the charts above, we can see that Henrys tend to have larger relative student loan and auto balances. So, they likely need to finish off paying for their educations and cars before they can enter savings mode.

  • Prefer to pay bills online and via mobile devices
  • Prefer credit/debit cards with cash back, airline mile, or other rewards
  • May have some bills automatically charged to a credit card


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