Q18a: Can your credit history affect your ability to get a loan?

Demographic and experience categories Yes No Do not know Refused
All respondents 94.9 ( 0.6) 2.0 ( 0.4) 3.1 ( 0.5) 0.0 ( 0.0)
AGE GROUP        
18 to 24 88.8 ( 3.2) 2.9 ( 1.7) 8.3 ( 2.8) 0.0 ( 0.0)
25 to 34 96.4 ( 1.2) 1.2 ( 0.9) 2.4 ( 0.8) 0.0 ( 0.0)
35 to 44 97.8 ( 0.7) 1.2 ( 0.5) 1.0 ( 0.4) 0.0 ( 0.0)
45 to 54 96.5 ( 0.9) 1.6 ( 0.7) 1.9 ( 0.6) 0.0 ( 0.0)
55 to 64 97.6 ( 1.0) 1.2 ( 0.8) 1.1 ( 0.6) 0.0 ( 0.0)
65 and older 91.9 ( 1.5) 3.4 ( 1.1) 4.7 ( 1.1) 0.0 ( 0.0)
INCOME        
Less than $25000 88.2 ( 1.5) 4.4 ( 1.0) 7.4 ( 1.2) 0.0 ( 0.0)
$25000 to $49999 97.1 ( 0.9) 1.5 ( 0.7) 1.4 ( 0.5) 0.0 ( 0.0)
$50000 to $74999 99.0 ( 0.8) 1.0 ( 0.8) 0.0 ( 0.0) 0.0 ( 0.0)
$75000+ 99.6 ( 0.3) 0.2 ( 0.2) 0.2 ( 0.2) 0.0 ( 0.0)
EDUCATION        
Less than high school 75.9 ( 3.1) 7.8 ( 2.0) 16.3 ( 2.6) 0.0 ( 0.0)
High school 93.6 ( 1.4) 2.7 ( 0.9) 3.7 ( 1.1) 0.0 ( 0.0)
Some post-secondary education 98.4 ( 0.6) 0.9 ( 0.5) 0.7 ( 0.3) 0.0 ( 0.0)
BA or more 99.4 ( 0.3) 0.4 ( 0.2) 0.3 ( 0.2) 0.0 ( 0.0)
ETHNICITY        
White 97.8 ( 0.6) 1.3 ( 0.4) 0.9 ( 0.4) 0.0 ( 0.0)
Black 94.8 ( 1.2) 2.1 ( 0.8) 3.1 ( 0.9) 0.0 ( 0.0)
Hispanic 79.9 ( 2.5) 6.1 ( 1.5) 14.1 ( 2.2) 0.0 ( 0.0)
Other 96.0 ( 2.1) 0.8 ( 0.8) 3.1 ( 2.0) 0.0 ( 0.0)
SEX        
Male 95.9 ( 0.9) 1.6 ( 0.6) 2.5 ( 0.7) 0.0 ( 0.0)
Female 94.0 ( 0.7) 2.4 ( 0.5) 3.6 ( 0.5) 0.0 ( 0.0)
EMPLOYMENT STATUS        
Actively employed (FT or PT) 97.3 ( 0.6) 1.5 ( 0.5) 1.2 ( 0.3) 0.0 ( 0.0)
Student 94.6 ( 2.7) 1.7 ( 1.7) 3.6 ( 2.1) 0.0 ( 0.0)
Not employed (homemaker, retired, unemployed) 90.8 ( 1.2) 3.3 ( 0.7) 5.9 ( 1.0) 0.0 ( 0.0)
Other 90.7 ( 5.2) 0.9 ( 0.9) 8.4 ( 5.2) 0.0 ( 0.0)
GEOGRAPHIC RESIDENCE        
Resident of a free report state (CO, GA, ME, MD, MA, NJ, VT) 95.5 ( 1.2) 2.4 ( 1.0) 2.1 ( 0.8) 0.0 ( 0.0)
Resident of another state 94.8 ( 0.6) 2.0 ( 0.4) 3.3 ( 0.5) 0.0 ( 0.0)
FINANCIAL AND CREDIT REPORT EXPERIENCE        
Obtained a credit report 98.5 ( 0.5) 1.2 ( 0.4) 0.3 ( 0.1) 0.0 ( 0.0)
Did not obtain a credit report 89.9 ( 1.2) 3.1 ( 0.7) 6.9 ( 1.0) 0.0 ( 0.0)
         
Obtained credit score 98.3 ( 0.6) 1.2 ( 0.6) 0.5 ( 0.2) 0.0 ( 0.0)
Did not obtain credit score 93.2 ( 0.8) 2.4 ( 0.5) 4.4 ( 0.7) 0.0 ( 0.0)
         
Disputed information on credit report 99.2 ( 0.5) 0.6 ( 0.4) 0.2 ( 0.2) 0.0 ( 0.0)
Did not dispute credit report information 93.9 ( 0.7) 2.3 ( 0.4) 3.7 ( 0.6) 0.0 ( 0.0)
         
Had an auto or mortgage loan 98.0 ( 0.4) 1.1 ( 0.3) 0.9 ( 0.2) 0.0 ( 0.0)
Did not have an auto or mortgage loan 84.5 ( 2.1) 5.0 ( 1.2) 10.5 ( 1.8) 0.0 ( 0.0)
         
Was a victim of identity theft 98.0 ( 0.9) 0.0 ( 0.0) 2.0 ( 0.9) 0.0 ( 0.0)
Was not a victim of identity theft 94.6 ( 0.6) 2.2 ( 0.4) 3.2 ( 0.5) 0.0 ( 0.0)
         
Obtained credit report due to an adverse action 96.8 ( 2.0) 2.7 ( 1.9) 0.5 ( 0.5) 0.0 ( 0.0)
Did not obtain credit report due to an adverse action 94.7 ( 0.6) 1.9 ( 0.4) 3.3 ( 0.5) 0.0 ( 0.0)

Percent estimates totaling 100% within each demographic and experience category, with standard errors in parentheses
 
GAO-05-411SP Credit Reporting Literacy Survey Data
Full Report: GAO-05-223