Just 33% of Americans Who Understand Credit Scores Know That Credit Scores Can Change 5+ Times Per Year
A February 2010 survey of 1,000 U.S. consumers revealed that 77% of American claim to understand credit scores. Yet just 33% of them know that a credit score can change five or more times per year. The results are part of the First Quarter 2010 FreeScore.com Consumer Credit Score Awareness Study*, a January 28–February 2, 2010, online poll of Americans age 18+.
Other results of the poll reveal that, of the population that understands credit scores, men are more aware that credit scores can change frequently. Thirty-eight percent of men believe scores can change 5+ times in a year versus only 29% of women.
In addition, 35-to-54-year-olds have a higher awareness that credit scores can change five or more times per year.
Those with incomes that exceed $75,000 have a slightly greater awareness that credit scores can change five or more times per year.
Also, consumers who have more recently checked their scores are not more aware of how often scores can change (35% for those who recently divorced vs. 31% among those who haven't checked their scores in the past year).
* The data for the First Quarter 2010 FreeScore.com Consumer Credit Score Awareness Study were collected through Survey Sampling International in Shelton, Connecticut. Results have a margin of error of +/- 5%.