SOURCE: VantageScore Solutions, LLC

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June 09, 2016 09:17 ET

6th Annual Survey of Consumer Knowledge of Credit Scores Reveals Majority Know Basics, Many Don't Understand Important Details

Survey Exposes Differences Between Gen-X and Millennial Understanding of Scores

WASHINGTON, DC --(Marketwired - June 09, 2016) - At a press teleconference at 12:00 noon Eastern on Monday, June 13, the Consumer Federation of America (CFA) and VantageScore Solutions will release the results of their sixth annual survey on consumer understanding of credit scores. This latest survey examines actual consumer knowledge of credit scores related to age, access to credit reports, and other key distinctions. 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 fundamental information regarding credit scores:

  • What consumers understand, and don't understand, about credit scores.
  • How age effects understanding of credit scores -- Millennials vs. Gen-Xers
  • Who's checking their credit scores?
  • Factors believed to impact credit scores, but don't.
  • The financial impact of credit score misunderstanding.
  • The key difference between credit reports and credit scores.
  • The four best ways for consumers to raise their credit scores.
  • An on-line Credit Score Quiz (www.creditscorequiz.org), designed to educate consumers about credit scores.

Event:
CFA and VantageScore Solutions Press Teleconference on Credit Scores

Date:
Monday, June 13, 12:00 p.m. Eastern,
11 a.m. Central, 10 a.m. Mountain, 9 a.m. Pacific

Call In #:
800-247-5110 and use the passcode CFACALL

Speakers:
Stephen Brobeck, Executive Director, Consumer Federation of America
Barrett Burns, President and CEO, VantageScore Solutions

NO INFORMATION WILL BE RELEASED BEFORE THE TELECONFERENCE
Release available after 11:30 a.m. EDT June 13th @ www.consumerfed.org

The Consumer Federation of America is a national organization of more than 250 nonprofit consumer groups that was founded in 1968 to advance the consumer interest through research, advocacy, and education.

VantageScore Solutions, initially developed by America's three national credit reporting companies (CRCs) -- Equifax, Experian and TransUnion -- is the independently managed company behind the VantageScore credit scoring model. www.vantagescore.com. This year marks its tenth anniversary.

Contact Information

  • Contact:

    Jack Gillis
    CFA
    202-737-0766

    Jeff Richardson
    VantageScore Solutions
    203-363-2170