News & Views - Savantor

Daniel Thompson and the money mummies

Tuesday, 16 October 2012

A couple of recent studies have thrown up some fascinating research on financial products.  Confused.com analysed data from thousands of its customers who have used its free Credit Card Matcher Tool this year to reveal the names with the best and worst credit profiles in the UK.

Apparently men named Brian have on average the best credit profile in the UK, while for ladies it is Helen.  In contrast, the first name with the poorest average credit profile is Lisa, while the male equivalent is Daniel.  When it comes to surnames, people with the last name of Edwards have on average the best credit profile in the UK whilst the surname with the lowest average credit profile is Thompson.

The UK postcode with the highest average credit profile among its residents is SL4 in Slough. Meanwhile, SA1 in Swansea - the postcode with the poorest average credit profile - has a score 10% below the national average.  The research also shows that age also makes a difference when it comes to credit scores as on average people's credit history improves as they get older. Average scores for people aged 65 and over are 8% higher than the national average, according to the research. Meanwhile, the age bracket with the worst average credit profile is 18 to 24 - 4% lower than the national average.

Meanwhile a study by LTSB shows that women are increasingly taking charge of family finances, and that women overall will have gained the balance of power by 2020. For women under the age of 45, the shift has already occurred.  These so-called "money mummies" now make many of the important decisions when it comes to financial products. In 52% of couples under 45, women make the majority of the household's financial decisions.

So if your name is Daniel Thompson and you’re under 45, married and living in Swansea then get your wife to sort out your credit record.

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