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Just 33% of Americans Who Understand Credit Scores Know That Credit Scores Can Change 5+ Times per Year

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

NORWALK, CT -- (Marketwire) -- 03/02/10 -- 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 ages 18+.

Those with incomes that exceed $75,000 have a slightly greater awareness that a credit score can change five or more times per year.

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.

Age                                     18-34  35-54  55+
Believe credit scores can change 5+
 times in a year                        26%    37%    32%

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).

According to Carrie Coghill Kuntz, Director of Consumer Education for FreeScore.com, "Knowing the factors that can change your score is an obvious first step to improving it. Begin to educate yourself about the factors by going to informative websites like CreditFYI.com or the Federal Trade Commissions credit information website. In addition, you can check your credit report from each of the major bureaus one time every 12 months at the government site 3 credit scores and reports often as you wish at FreeScore.com."

About FreeScore.com
FreeScore.com is a service that provides consumers with access to their credit scores, reports and monitoring. For more information, go to www.FreeScore.com.
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*The data for the First Quarter 2010 FreeScore.com Consumer Credit Score Awareness Study was collected through Survey Sampling International in Shelton, Connecticut. Results have a margin of error +/- 5%.

The articles and information available are for educational and reference purposes only. They do not constitute, and should not be construed as, legal or financial advice. Any legal or financial principles discussed here are for general information purposes only and may differ substantially in individual situations and/or in different states or countries. For specific legal or financial advice, please consult a licensed attorney or a financial professional. FreeScore does not control or guarantee the accuracy of any information provided through external links from the articles on this website to any other website, nor does the FreeScore privacy policy apply to any personal information that may be collected via the external links.

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