Nearly Half of Consumers Don’t Know Their Credit Score
Bankrate.com released data from a survey conducted earlier this month in which they used a random-digit-dialed phone to poll 1,004 adults 18 or older nationwide.
The survey was carried out for Bankrate by GfK Roper Public Affairs & Media, using a variety of demographic factors including age, gender, race, education and census region information to ensure an accurate representation of adults in U.S. households.
The results were rather surprising. According to the data, a whopping 45% of consumers do not know their credit score, and another 32% have never checked their credit report.
It’s understandable that a consumer may not know their credit score at any given moment (what is the average credit score), but to never have checked their credit is shocking.
Especially now since all Americans are entitled to get a free credit report every 12 months from the AnnualCreditReport website (get a free credit report without a credit card).
The data also proves that despite vast efforts by banks and credit card issuers nationwide, many consumers simply aren’t opting to use identity theft products or credit monitoring programs.
The purpose of the study is said to be part of a financial literacy effort Bankrate is putting together in the coming weeks, although it also came across as a bit of a PR stunt to enroll more consumers into credit monitoring programs.
One thing is for sure…if you’ve never checked your credit report, you should definitely do so now. If for no other reason but to ensure your identity hasn’t been stolen (how to read your credit report).
And you don’t need to pay for it…just head over to AnnualCreditReport.com and they’ll send you one for free.
Just keep it mind that they won’t give you a credit score, you’ll have to pay for that…
Learn more about how to order a free credit report.
Related Topics:
- Free Credit Report vs. Credit Monitoring
- The Free Credit Score Loophole
- Free Credit Report, But No Free Credit Score
- How Often to Check Your Credit Report?
- American Consumers in the Dark Regarding Finances
Posted Under: Credit Help and Tips