It’s well documented that on average, women generally earn less than men. But did you know that women also typically pay more total interest than men when borrowing? New research from credit management platform Credit Karma has revealed a gender credit gap with women paying thousands of pounds more to borrow over their lifetime.
What is the gender credit gap and how big is it?
According to Credit Karma, women could end up paying close to £17,000 more than men over their lifetime when they borrow money.
Credit Karma found that women have lower credit scores on average than men (652 vs 705).
In addition, a larger percentage of women (19.5%) have a credit score … Read more