CCR Magazine

You are here  :Home arrow News arrow Political indifference among young Britons could drive credit difficulties
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Political indifference among young Britons could drive credit difficulties PDF Print E-mail
Tuesday, 07 April 2015

Young people are being urged to join the electoral roll - even if they don’t intend on voting - as not doing so could damage their ability to access credit and services.

As the 20th of April deadline looms for registration, many of Britain’s young people are still considering whether they will cast their vote in the upcoming elections. Research from global information services company Experian reveals that one in three 18 to 24 year-olds are not currently registered, with analysis showing a 47 per cent fall in the number of young people choosing to put their names on the register. A third (33%) of those who keep their names off the list do so because they do not want to participate in the political process.

As well as taking away their access to the ballot box, this political detachment could see millions of young people jeopardising their financial wellbeing:

·        53% do not know that not being registered at their current address could negatively impact their credit rating;
·        59% are unaware that it could help protect them from fraud and identity theft;
·        62% do not know that it could hinder their access to online services;
·        24% do not see why they should register.

Commenting on the research and offering advice to young people, Julie Doleman, managing director, Experian Consumer, UK&I, said: “Even if you’re not planning to vote, we encourage everyone to register. Registering to vote before the 20th of April deadline will let you keep your options open in case your opinion changes before the 7th of May. As well as the obvious impact of taking away your access to the ballot box, not registering could also affect your ability to access a range of services.

“The electoral roll is often a factor in credit scores and a way for lenders to verify your identity. Even if you have managed credit well in the past, not being registered on the electoral roll could negatively impact how a lender views you – which is particularly important for young people who are trying to build up their credit file for the first time.”

Banks, financial institutions, government bodies and many online retailers use the electoral roll to help verify people’s identity. Registration is particularly important for young people hoping to access credit products, including mobile phone contracts, as they tend to have relatively little information on their credit report.

Electoral indifference appears not to be limited to the nation’s youngsters. One in three people (31%) claim that they do not vote and this is their main reason for not registering on the electoral roll.

(Source - Experian News Release)
 

 
Enghouse Side Banner

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197