Getting Your Credit Score Can Pay Off - Other News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Getting Your Credit Score Can Pay Off

Getting Your Credit Score Can Pay Off

The content is accurate at the time of publication and is subject to change.

Getting your credit score can increase your knowledge about credit in general, according to a new study. That may just help you improve your credit score and get the credit card you want. The study found that people who actually checked their credit score knew more about what those scores meant than those who did not.

The credit card study was conducted by VantageScore Solutions and the Consumer Federation of America (CFA). In the study they also found that the number of people who have at least checked out their credit score even once has gone up, hitting 57% this year, compared to 49% in 2014.

They also provided people with some tips on how to increase their credit score, which included everything from making loan payments on time to using just a small amount of your available credit to pay off credit card debt to keeping an eye on your credit report.

Borrowers outpace non-borrowers

In the study, they found that people who are interested in borrowing money from a lender are more likely to have checked out their credit score than people who weren’t thinking about approaching a lender for a loan.

In the study 70% of people who are anticipating applying for a consumer or mortgage loan indicated that they had requested their credit score. And they knew more about credit scores than their counterparts who had no interest in getting a loan.

“The rising percentage of consumers who have obtained their credit scores is encouraging because those who have accessed their scores know much more than those who have not,” noted Steve Brobeck, executive director, CFA.

“It is also encouraging that those who plan to borrow are more likely to have obtained their credit scores and know more about scores than non-borrowers,” he added.

People who want to learn more about credit can check out an online credit score quiz by CFA and VantageScore.

Do you know how to increase your credit score?

When quizzed about credit scores, many people knew some of the factors used to create their score, but they did not have a complete picture of how it is calculated. Also, a large majority knew some of the ways they could up their credit score, but they left some out of the mix, which could make a world of difference when it comes to bringing up their score.

They also found that over the last four years there was an upswing in the number of people getting their credit report too, up to 36% this year, when in 2014 just 29% had requested their credit report.

The study was carried out between May 31, 2018, and June 3, 2018, by ORC International for CFA and VantageScore. They spoke with 1,005 people living in the U.S. via cell phone or landline.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Masterpass Comes to BJ's Wholesale Club
Masterpass Comes to BJ's Wholesale Club

Posted: April 25, 2018

Have you been wondering when you would be able to use Masterpass, to check out at BJ's Wholesale Club? If you have, you don't have to wonder any more. The pair recently inked a deal, bringing Masterpass, MasterCard's digital wallet, to... Continue reading
New SPG Amex Luxury Card Arrives This Summer
New SPG Amex Luxury Card Arrives This Summer

Posted: April 26, 2018

The Starwood Preferred Guest American Express Luxury card is coming this August, along with the new SPG and Marriott combined rewards program. This card offers 6x the points when booking stays at SPG and Marriott Rewards hotels and 3x... Continue reading
Get 20,000 Points or $200 Cash Back With Amex Offers and AT&T
Get 20,000 Points or $200 Cash Back With Amex Offers and AT&T

Posted: May 07, 2018

Amex Offers has another deal on the table. If you have an American Express business rewards card, you can earn $200 cash back or opt to get 20,000 Membership Rewards points when you spend $200 with AT&T. What's more, you can use this... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay
For Excellent, Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!