74% of Consumers Believe their Income Affects their Credit Score

74% of Consumers Believe their Income Affects their Credit Score

In May of 2007 CFA and Washington Mutual conducted a study on consumer awareness of the credit scoring system. The study showed how little you, as a consumer, understands about your credit rating.

Here are some of the interesting results from this study:

Understood that your credit score would increase when you paid off large balances 65 %
Understood that married couples don’t have combined scored 57%
Understood that maxing out revolving accountwould hurt your scores 56%
Knew that there are more than one score 45%
Were able to name the three major CRAs 23%
Believed your income affected your score 74%

Obviously you may not be aware of how your credit really works. In order to truly help your credit score though, you must understand the way your credit works.
CreditRepairProgram.com looks forward to helping you achieve your goals, and provide better opportunities for you and your family. Contact Us! We are standing by, ready to help!

Written By: Jim Rivette
jim-150x150

No Comments Yet.

Leave a comment