Almost 40 percent of Americans ages 50-64 have not checked their credit score in the past year, according to a new survey from WisePiggy.com. In addition, that portion of the baby boomer generation, which makes up almost one-fifth of the nation's population, is most likely to have not checked their credit report in the past year, with 42 percent saying they had not done so in the last 12 months.
Overall, a third of the 2,000 people surveyed said that they had not checked their credit reports in the past year. Even more troubling, more than one out of every 10 surveyed said they had never checked their credit score.
"Being proactive about your finances starts with checking your credit score and credit report on a regular basis," says
Here are the percentages of respondents who have not checked their credit report in the last year:
• Ages 18 to 29 – 33 percent
• Ages 30 to 39 – 26 percent
• Ages 40 to 49 – 37 percent
• Ages 50 to 64 – 39 percent And those that have not checked their credit score in the past 12 months:
• Ages 18 to 29 – 34 percent
• Ages 30 to 39 – 28 percent
• Ages 40 to 49 – 50 percent
• Ages 50 to 64 – 42 percent Knowing a credit score is one thing, but maintaining or improving a score can be as simple as paying bills on time and keeping low credit card balances, something that a quarter of respondents said they weren't currently doing. Once again, baby boomers, many of whom are nearing or at the end of a mortgage term, were the most likely to take a passive maintenance approach. The following are the percentages of people who have not taken any action to improve their score:
• Ages 18 to 29 – 21 percent
• Ages 30 to 39 – 18 percent
• Ages 40 to 49 – 30 percent
• Ages 50 to 64 – 37 percent While Americans in their 30s are most likely to be on top of their credit situation, over a quarter of that population segment still is not monitoring their scores or reports with regularity. "Monitoring your credit score and credit report are easy steps anyone can take to make informed money decisions and can also help stop identity theft before too much damage is done to your credit," Nicolaisen says. "Services like WisePiggy.com, which provides your truly free credit score in addition to other valuable financial tools, are designed with that idea in mind. With WisePiggy, you can quickly see what's happening with your credit report and score, which empowers you to take action should an issue arise." Men were more likely to stay on top of their credit situation than women:
• 70 percent of men have checked their credit scores within the past year, compared with just 63 percent of women.
• 69 percent of men have checked their credit reports within the past year, compared with just 59 percent of women.
• 30 percent of women have taken no steps to improve their credit scores, compared with just 23 percent of men who have done nothing along these lines.
You can view the full article here: https://www.wisepiggy.com/credit_tutorial/credit_score/what-does-your-credit-report-say-about-you.html.
WisePiggy.com offers easy, fast and free solutions to consumers looking to track their credit score and make the most of their money. WisePiggy.com offers consumers free access to their TransUnion credit score. The site also features money management tips and tools, including the unique WisePiggy Report Card, a one-of-a-kind tool to guide consumers to a better credit score. This new site joins an award-winning portfolio of personal finance sites under the
Read the full story at http://www.prweb.com/releases/2014/08/prweb12100899.htm
Most Popular Stories
- Stocks Close Out Best Week in Nearly 2 Years
- Microsoft Earnings Drive Stocks Higher
- Do Voters Want Compromise?
- Timeline for New York Ebola Doctor
- 'Kissing Congressman' Admits Mistake in Reelection Bid
- Clinton Rallies New England Women
- Ebola in New York, Mali Raises Travel Jitters
- Market Jolt Offers a Reality Check for Investors
- Tech Workers Needed in South Florida
- Steris to Add 100 Jobs in Birmingham