Differences between professional groups in applying for loans
Nurse practitioners and self-employed men are the largest individual groups applying for consumer credit, says Good Lender. The data is based on a study conducted by Good Finance, which looked at consumer credit applicants’ professional groups in 2014 and 2015.
The total sample of the study was over 60,000 applications. Over 40,000 applications were analyzed in 2016 and 20,000 applications analyzed in 2015.
Entrepreneurs and practitioners apply for a loan
According to the survey, the most sought after consumer loans for women’s occupational groups were practitioners, salesmen, cleaners, entrepreneurs and nurses. In the case of men, entrepreneurs, salesmen, chauffeurs, chefs and construction workers were at the forefront of loan applicants.
The results show a connection with the largest professional groups in Finland
On the positive side, consumer credit tendering has become more common across all occupational groups – both men and women. You can easily compare and bid on consumer credit, for example in our free loan comparison:
When comparing consumer loans, it is good to keep in mind that the interest rate may vary, for example, depending on the applicant or the amount sought. For example, Bank Norwegian uses customer profiles to determine the interest rate it offers to each customer.
Taking out consumer credit in Finland:
Applying for consumer credit is common in Finland, according to the 2015 study by the Federation of Finnish Financial Services. According to a survey, up to 39% of Finns have consumer credit. However, the majority, 65%, have only one credit at a time.
Contrary to popular belief, the accumulation of consumer credit to individual debtors therefore does not seem to be true.
The most common consumer loans are a credit card debit card and a consumer credit applied for from a bank. The most typical way to apply for a consumer credit is at a relatively young age of 25-34.
However, the results cannot be directly deduced from the overall profile of the consumer lender, as the decision to apply for a loan is always influenced by personal factors.