Thursday, March 17, 2005

GIVE CREDIT WHERE DUE

About half of all Americans don't know that a "credit score" gauges credit risk, according to a telephone survey of 1,013 people conducted last month for the Consumer Federation of America and Fair Isaac Corp. Fifty-one percent understood what a credit scores means, but 49 percent either admitted that they did not know or incorrectly said that a credit score represents a person's credit availability, debt level or "credit IQ." The poll also found that 45 percent incorrectly believe they can improve their credit score by making more money.

Source: American Banker (03/16/05)
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