BMO Harris Bank Survey Finds Four in 10 Millennials Believe Carrying a Credit Card Balance Will Improve Their Credit Score

Consider that credit needs to be built up. A credit score is something that can take time to improve, so don't expect immediate changes and plan ahead. Your credit behavior can take months to be reflected in your score.

Survey results cited in this report are from interviews with an online sample of 1,004 Americans conducted between July 2nd and July 4th, 2014. The margin of error for a probability sample of this size is +/- 3.1%, 19 times out of 20.

About BMO Harris Bank
BMO Harris Bank provides a broad range of personal banking products and solutions through more than 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. For more information about BMO Harris Bank, go to the company fact sheet. Banking products and services are provided by BMO Harris Bank N.A. and are subject to bank or credit approval. BMO Harris® and BMO Harris Bank® are trade names used by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,600 branches, and CDN $586 billion in assets (as of July 31, 2014).

Disclosures

The survey referenced herein was conducted by Pollara Strategic Insights ("Pollara"), an independent research firm, at the request of BMO Harris Bank. Pollara is not affiliated with BMO Harris Bank, either by common ownership, management, control or otherwise. Results cited above are from an online survey conducted between July 2, 2014, and July 4, 2014, by Pollara. Interviews were conducted with 1500 individuals, selected at random from an online research panel. A probability sample of this size would be accurate to +/- 4.9%, 19 times out of 20. Data has been weighted by state, based on Census information, to ensure regional proportions match those of the actual US population.

BMO Harris Bank makes no representation or warranty, express or implied, in respect thereof, takes no responsibility for any errors and omissions which may be contained herein and accepts no liability whatsoever for any loss (whether direct, consequential or otherwise) arising from any use of or reliance on the information listed herein. Information may be available to BMO Harris Bank and its affiliates that is not reflected herein. This report is for informational purposes only, is not investment advice and is not to be used as a basis for any investment decision. BMO Harris Bank does not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors.

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Media Contact:
Alexis Brown
Chicago

alexis.brown@bmo.com
(312) 461-6543 




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