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Latest Survey of Consumer Knowledge of Credit Scores Reveals Differences between Millenials and Older Adults

May 8, 2014

New Analysis Reveals the Key Factors Which Drive Credit Score Knowledge

WASHINGTON--(BUSINESS WIRE)-- At a press teleconference at 12:00 noon Eastern on Monday, May 12, the Consumer Federation of America (CFA) and VantageScore Solutions will release the results of their fourth annual survey on consumer understanding of credit scores. This latest survey examines actual consumer knowledge of credit scores as it relates to age, access to credit reports, and other demographics. In spite of the extraordinary impact credit scores have on the financial lives of consumers, this research has identified some critical shortcomings in consumer understanding.

At the press tele-conference CFA and VantageScore Solutions will reveal the following survey results and other key information regarding credit scores:

  • Which consumers actually check and know their credit scores
  • What consumers understand about credit scores, and where they are lacking key knowledge.
  • How many consumers are checking their credit scores and who are they.
  • The key difference between credit reports and credit scores.
  • The relationship between getting a free credit reports and knowledge of credit scores.
  • The surprisingly different levels of knowledge among various age groups.
  • The four best ways for consumers to raise their credit scores.

    Event:

     

    CFA and VantageScore Solutions Press Teleconference on Credit Scores

     

    Date/Time:

    Monday, May 12, 12:00 p.m. Eastern
    11 a.m. Central, 10 a.m. Mountain, 9 a.m. Pacific
     

    Call In #:

    800-311-9403 and use the passcode CFACALL

     

    Speakers:

    Stephen Brobeck, Executive Director, Consumer Federation of America

    Barrett Burns, President and CEO, VantageScore Solutions

     

    Press release will be available at 11:30AM ET on www.consumerfed.org the morning of the teleconference.

    The Consumer Federation of America is an association of nearly 300 nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education.

    About VantageScore Solutions

    Initially developed by America’s three national credit reporting companies (CRCs) — Equifax, Experian and TransUnion —VantageScore Solutions, LLC (www.vantagescore.com) is the independently managed company behind the VantageScore credit scoring model.




    VantageScore Solutions

    Jack Gillis, CFA, 202-737-0766

    or

    Jeff Richardson, 203-363-2170


    Source: VantageScore Solutions, LLC


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    Source: Business Wire


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