Apple device users have higher credit scores than Android users, says lender
The data was taken from more than 2 million loan applications
The data was taken from more than 2 million loan applications
Apple device users have higher credit scores on average than Android device users, according to an analysis , an online service that connects consumers with banks. The results were collected from more than two million purchase and personal loan requests in 2016.
Mac computer users who requested loans had the highest average credit scores in the personal loan (FICO average 683) and mortgage (FICO average 722) categories. Last year, the average loan given to Mac users was $274,412 for a home mortgage and $14,650 for a personal loan, significantly higher than the nation's averages of $226,554 and $11,921, respectively. Mac users also received lower interest rates on 30-year mortgages, with an average rate of 3.93 percent.
Apple iPad users had the second-highest credit scores and loan amounts after Mac users. They also received the second-lowest interest rates for 30-year fixed rate mortgages at 3.95 percent.
Android users had the lowest credit scores and loan amounts across the mortgage and personal loan categories. Their interest rates were also higher. Android device owners requesting mortgage loans had average credit scores of 682 and received home loans of $184,219.14. Android users asking for personal loans had average credit scores of 667 and received $9,441.04.
"The disparity in loan details between Mac and Android users is most likely a reflection of different price points and the affordability of the respective devices," said Doug Lebda, founder and CEO of LendingTree.