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Behavioral Determinants of Credit Score Improvement and the Role of Structured Credit Counseling in Millennial Debt Recovery
Subject area: Management and Commerce · Area of research: Behavioral Finance
DOI: https://doi.org/10.64388/IREV1I5-1700104
Abstract
This study, informed by the practitioner expertise of Antwaine Bullocks, known as the Credit Genius, investigates the behavioral determinants of credit score improvement among millennial consumers in the United States and evaluates the role of structured credit counseling programs in accelerating debt recovery outcomes within this demographic. Millennials represent the largest generational cohort in the American workforce yet exhibit disproportionately low credit scores and elevated levels of consumer debt. Drawing on a mixed-methods framework integrating survey data from 312 millennial respondents aged 22 to 36 with qualitative interviews conducted at Rapid Credit Boosters, a San Diego-based credit counseling organization, this paper identifies financial self-efficacy, payment consistency, and credit utilization awareness as primary behavioral predictors of score improvement. Counseled participants recorded an average FICO score improvement of 74 points over six months compared to 31 points among non-counseled peers. The study concludes that coach-led, individualized credit counseling targeting behavioral and psychological dimensions of credit management constitutes an effective and scalable pathway to financial inclusion for the millennial generation.
Keywords
Credit Counseling, Millennial Debt Recovery, Credit Score Improvement, Financial Self-Efficacy, Behavioral Finance, Consumer Credit
How to cite this paper
@article{1700104,
author = {Antwaine Bullocks},
title = {Behavioral Determinants of Credit Score Improvement and the Role of Structured Credit Counseling in Millennial Debt Recovery},
journal = {Iconic Research And Engineering Journals},
year = {2017},
volume = {1},
number = {5},
pages = {93-97},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1700104.pdf},
abstract = {This study, informed by the practitioner expertise of Antwaine Bullocks, known as the Credit Genius, investigates the behavioral determinants of credit score improvement among millennial consumers in the United States and evaluates the role of structured credit counseling programs in accelerating debt recovery outcomes within this demographic. Millennials represent the largest generational cohort in the American workforce yet exhibit disproportionately low credit scores and elevated levels of consumer debt. Drawing on a mixed-methods framework integrating survey data from 312 millennial respondents aged 22 to 36 with qualitative interviews conducted at Rapid Credit Boosters, a San Diego-based credit counseling organization, this paper identifies financial self-efficacy, payment consistency, and credit utilization awareness as primary behavioral predictors of score improvement. Counseled participants recorded an average FICO score improvement of 74 points over six months compared to 31 points among non-counseled peers. The study concludes that coach-led, individualized credit counseling targeting behavioral and psychological dimensions of credit management constitutes an effective and scalable pathway to financial inclusion for the millennial generation.},
keywords = {Credit Counseling, Millennial Debt Recovery, Credit Score Improvement, Financial Self-Efficacy, Behavioral Finance, Consumer Credit},
month = {November},
doi = {https://doi.org/10.64388/IREV1I5-1700104}
}