Weekly News via Email
   Set as homepage | Add to favorites | Customer Service | Subscribe Now | Place an Ad | Contact Us | Sitemap Thursday, 05.24.2018
News Archive
Su Mo Tu We Th Fr Sa
 1  2
 3  4  5  6  7  8  9
 10  11  12  13  14  15  16
 17  18  19  20  21  22  23
 24  25  26  27  28  29  30
Online Extras
Site Services
Around Bend
Outdoor Fun
Travel Info
Shop Local

Members Of

Poll: Today's Live Poll
Email to a friend | Print this | PDF version | Comments (0 posted) 
  Blogger |   del.icio.us |   digg |   newsvine

Jun 21,2007
45% of consumers don't know their credit score
by Bend Weekly News Sources

Credit Report, Credit Score - What's the difference?

Bankrate, Inc. this week released the findings of a national poll which found that 45% of consumers do not know their credit score. Furthermore, 32% of Americans have never checked their credit report, a report which is now offered free to consumers on a yearly basis. The poll is included in this month's segment of Bankrate's Financial Literacy Series: Credit Scoring Demystified. To view Bankrate's Financial Literacy 2007 - Guide to Building Personal Wealth, go to http://www.bankrate.com/financialliteracy.

"Credit scores touch every aspect of a person's life," said Cheryl Allebrand, senior reporter at Bankrate.com. "Whether or not you will pass an employment background check, how much you pay for car insurance, and the type of mortgage for which you qualify can all be affected by credit scores," Ms. Allebrand added.

Many Americans are confused regarding the difference between credit scores and credit reports. Bankrate's offering helps consumers understand the basics of each, provide tips for improving credit scores, advice on correcting inaccurate credit reports, as well as tools and calculators to improve savings.

Not utilizing this information could be costing consumers a significant amount of money. For instance, on a 30-year fixed mortgage loan in the amount of $165,000, a consumer with a credit score in the range of 500-579 would save $150,192 over the life of the loan if their credit score was in the range of 760-850.

"A good credit score is vital to saving money over the term of a loan," said Greg McBride, senior financial analyst at Bankrate.com. "A higher credit score means lower rates and greater interest savings," Mr. McBride said.

The national random-digit-dialed phone study of 1,004 adults 18 or older was conducted for Bankrate by GfK Roper Public Affairs & Media. The surveys were conducted from June 1 through June 3, 2007. The sample was weighted by demographic factors including age, gender, race, education and census region to ensure reliable and accurate representation of adults in U.S. households. Results based on the entire sample of 1,004 adults are projectable to the entire adult population in the United States, with a sampling error of plus or minus 3 percentage points.
3327 times read

Related news
Study Shows Americans Need to Get Financially Fit by newsusa posted on Feb 09,2006

Credit Scores Matter More And More by Ilyce_Glink posted on Sep 22,2006

Money and You: How you can get a higher grade on your credit report by Lynn O'Shaughnessy posted on Apr 06,2007

34% of homeowners don't know the type of mortgage they have by Bend_Weekly_News_Sources posted on Mar 30,2007

Rising interest rates no cause of concern to average buyer by Ilyce_Glink posted on Apr 06,2007

Did you enjoy this article? Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00 (total 5 votes)

Market Information
Breaking News
Most Popular
Most Commented
Featured Columnist
Horoscope Guide
Aquarius Aquarius Libra Libra
Aries Aries Pisces Pisces
Cancer Cancer Sagittarius Sagittarius
Capricorn Capricorn Scorpio Scorpio
Gemini Gemini Taurus Taurus
Leo Leo Virgo Virgo
Local Attractions
Bend Visitors & Convention Bureau
Bend Visitors & Convention Bureau

Mt. Bachelor Resort
Mt. Bachelor Resort

Les Schwab Ampitheater
Les Schwab Ampitheater

Deschutes County Fairgrounds
Deschutes County

Tower Theatre
Tower Theatre

The High Desert Museum


Deschutes County

  Web    BendWeekly.com
© 2006 Bend Weekly News
A .Com Endeavors, Inc. Company.
All Rights Reserved. Terms under
which this service is provided to you.
Please read our Privacy Policy. Contact us.
Bend Weekly News & Event Guide Online
   Save the Net
External sites open in new window,
not endorsed by BendWeekly.com
Subscribe in NewsGator Online
Add to Google Add to MSN Add to My AOL
What are RSS headlines?