Does the average person really understand credit?
I came across this info graphic today and wanted to share it with you. It illustrates the need for education and a better understanding of credit and credit scoring. Blue Water Credit is happy to help!
In a random survey of 1,000 Americans:
20% of respondents admitted their knowledge of credit score was poor.
71% failed to answer a question about how companies and service providers use credit score.
Only 59% of Americans consider themselves to be highly knowledgeable about personal finance.
The majority of those polled agree there should be a ban on an employer’s right to use a potentially employee’s credit report in the hiring process.
Only 50% have checked their credit score in the last year.
The majority of those polled were confused about how credit score is determined – thinking that employment history, interest rates on current debts, and personal savings were factors.
Almost 40% thought that their age was a factor, and 1 in 4 thought the state they lived in was a determining factor!
In a random survey of 1,000 Americans:
20% of respondents admitted their knowledge of credit score was poor.
71% failed to answer a question about how companies and service providers use credit score.
Only 59% of Americans consider themselves to be highly knowledgeable about personal finance.
The majority of those polled agree there should be a ban on an employer’s right to use a potentially employee’s credit report in the hiring process.
Only 50% have checked their credit score in the last year.
The majority of those polled were confused about how credit score is determined – thinking that employment history, interest rates on current debts, and personal savings were factors.
Almost 40% thought that their age was a factor, and 1 in 4 thought the state they lived in was a determining factor!
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