Credit Score Literacy And Building Credit

Credit Score Literacy And Building Credit

NEW DATA: One-Third Of Consumers Think Their Credit Is Better Than It Is

Consumers have an overly rosy picture of their credit scores: More than two-thirds think theirs is above average — almost twice those with such scores. In the Credit Score Literacy And Building Credit Report, a PYMNTS and Elan (a division of U.S. Bank) collaboration, PYMNTS surveyed 2,053 U.S. consumers to find that this overly rosy picture locks them out of credit options and that they want issuers to step in with tools to help.

Inside the July Report

  • 62 percent: Share of consumers who are interested in boosting their credit scores
  • 29 percent: Portion of consumers who are “very” or “extremely” concerned about their credit scores
  • 57 percent: Share of consumers who highly value credit card issuers providing updates, education and tools to monitor or improve credit scores

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