St Casimirs Mortgage Minute

Survey: Six in Ten Americans Checked Their Credit Report in Past Year
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Sixty percent of Americans have checked their credit report in the past 12 months, according to a survey conducted for ABA by Ipsos Public Affairs. Of those who accessed their credit report, nearly three in 10 have disputed something on their report.

Eighty-five percent say they are aware that they are legally entitled to a free credit report, while 44 percent believe a credit score and a credit report are the same thing with a different name. Consumers’ self-reported credit scores were in line with FICO’s average score of 692, and 49 percent believed that they had a score of 700 or above.

“The more consumers know about their own credit history, the better they can position themselves for lower rates when applying for loans,” said ABA SVP Molly Wilkinson. The survey, released in the latest issue of The Credit Line, polled more than 1,000 U.S. adult.

ABA Daily Newsbytes