Annual Survey Reveals That Consumer Knowledge about Credit Scores Has Steadily Declined over the Past Eight Years Consumers Can Increase Their credit score knowledge by Taking the Credit Score.
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Survey Reveals That Consumer Knowledge about Credit Scores Has Steadily Declined over the Past Eight Years Originating Uncategorized The ninth annual credit score survey, released today by the Consumer Federation of America (CFA) and VantageScore Solutions, LLC, shows that consumer knowledge about credit scores is at the lowest level in the past eight years.
While consumers knowledge of their actual credit scores has declined overall, the latest survey shows large majorities of consumers did correctly answer key knowledge questions related to important facts: Mortgage lenders and credit card issuers use credit scores (83% and 82% respectively). Missed payments are used in calculating credit scores (86%).
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Annual Survey Reveals That Consumer Knowledge About Credit Scores Has Steadily Declined Over the Past Eight Years. "Taking our online credit score quiz provides an easy way for consumers to update their credit score knowledge," he added.
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