Do you know what your credit score is right now? Many people don’t, according to a new survey, which finds that one in 10 Americans have no idea what their credit score is. Even more surprising? One in five don’t even know how to check it.
The poll asked 2-thousand U.S. adults about their credit and found:
- 62% of people think their credit score is higher or lower than it actually is, with 12% feeling it's lower than it should be and 50% feel it’s higher than it should be.
- Only one in four (28%) think their credit score accurately reflects their financial situation.
- Half of all respondents don’t believe their credit score should count towards whether or not they qualify for a home loan.
- The biggest barriers to homeownership for the average American include high housing prices (49%), insufficient savings for a down payment (43%), difficulty qualifying for a mortgage (42%), insufficient credit score (39%) and limited income or job stability (34%)
- The average person makes between three and four financial transactions on a daily basis, for essentials like gas and groceries.
- Two-thirds of those surveyed feel like they can’t leave the house without spending money in some way.
Source: SWNS Digital