How Much Do Americans Actually Know About Credit Scoring?

Every year, the Consumer Federation of America (CFA) and VantageScore Solutions work together to produce the Annual Credit Score Survey. This survey examines how much Americans actually know about the credit system. With the average credit score reaching a record high of 700 last year, Americans might know a lot more than we think.

The survey tested over 1,000 adults on topics related to the overall credit process. These subjects include:

The 2018 results showed that on the whole, Americans have increased knowledge and participation in the credit score process compared to previous years. Let’s break down the results into three key findings.

Obtaining their credit scores


The number of individuals who sought out their credit score at least once in the last year rose to 57 percent – an eight percent increase from 2014. The majority of these individuals were potential borrowers, who scored five to ten percentage points higher on survey questions compared to non-borrower surveyees. This suggests that potential loanees are more interested in credit scoring because they are aware of the how it impacts their ability to secure a loan.

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