Q18b: Can your credit history affect interest rates on loans?

Demographic and experience categories Yes No Do not know Refused
All respondents 80.9 ( 1.1) 9.7 ( 0.9) 9.3 ( 0.8) 0.0 ( 0.0)
AGE GROUP        
18 to 24 79.8 ( 3.8) 9.0 ( 2.9) 11.1 ( 2.7) 0.0 ( 0.0)
25 to 34 86.5 ( 2.4) 6.0 ( 1.8) 7.6 ( 1.7) 0.0 ( 0.0)
35 to 44 85.4 ( 2.5) 8.5 ( 2.1) 6.1 ( 1.5) 0.0 ( 0.0)
45 to 54 81.2 ( 2.5) 10.1 ( 2.0) 8.6 ( 1.7) 0.0 ( 0.0)
55 to 64 82.2 ( 2.7) 8.2 ( 1.9) 9.6 ( 2.0) 0.0 ( 0.0)
65 and older 70.6 ( 2.9) 16.0 ( 2.4) 13.4 ( 2.0) 0.0 ( 0.0)
INCOME        
Less than $25000 72.6 ( 2.0) 9.9 ( 1.3) 17.5 ( 1.7) 0.0 ( 0.0)
$25000 to $49999 79.9 ( 2.5) 11.4 ( 2.0) 8.7 ( 1.7) 0.0 ( 0.0)
$50000 to $74999 88.5 ( 2.3) 7.9 ( 2.0) 3.6 ( 1.4) 0.0 ( 0.0)
$75000+ 89.5 ( 2.0) 7.4 ( 1.8) 3.1 ( 1.1) 0.0 ( 0.0)
EDUCATION        
Less than high school 57.5 ( 3.6) 12.0 ( 2.5) 30.6 ( 3.3) 0.0 ( 0.0)
High school 78.7 ( 2.1) 12.0 ( 1.8) 9.3 ( 1.3) 0.0 ( 0.0)
Some post-secondary education 83.3 ( 2.1) 10.2 ( 1.7) 6.5 ( 1.3) 0.0 ( 0.0)
BA or more 88.8 ( 1.7) 6.3 ( 1.2) 4.8 ( 1.1) 0.1 ( 0.1)
ETHNICITY        
White 81.8 ( 1.4) 10.8 ( 1.2) 7.4 ( 0.9) 0.0 ( 0.0)
Black 83.5 ( 2.1) 6.7 ( 1.5) 9.6 ( 1.7) 0.2 ( 0.2)
Hispanic 73.9 ( 2.7) 5.8 ( 1.4) 20.3 ( 2.4) 0.0 ( 0.0)
Other 80.9 ( 4.7) 14.2 ( 4.4) 4.9 ( 2.0) 0.0 ( 0.0)
SEX        
Male 85.2 ( 1.6) 8.8 ( 1.4) 5.9 ( 1.0) 0.0 ( 0.0)
Female 76.9 ( 1.5) 10.6 ( 1.1) 12.5 ( 1.1) 0.1 ( 0.1)
EMPLOYMENT STATUS        
Actively employed (FT or PT) 84.8 ( 1.4) 8.8 ( 1.2) 6.3 ( 0.9) 0.0 ( 0.0)
Student 84.4 ( 5.0) 7.5 ( 3.4) 8.1 ( 3.8) 0.0 ( 0.0)
Not employed (homemaker, retired, unemployed) 73.7 ( 2.0) 11.2 ( 1.4) 15.0 ( 1.6) 0.1 ( 0.1)
Other 75.3 ( 6.0) 13.2 ( 5.5) 11.5 ( 3.7) 0.0 ( 0.0)
GEOGRAPHIC RESIDENCE        
Resident of a free report state (CO, GA, ME, MD, MA, NJ, VT) 83.2 ( 2.2) 9.9 ( 1.9) 6.9 ( 1.4) 0.0 ( 0.0)
Resident of another state 80.6 ( 1.2) 9.7 ( 1.0) 9.7 ( 0.8) 0.0 ( 0.0)
FINANCIAL AND CREDIT REPORT EXPERIENCE        
Obtained a credit report 88.0 ( 1.3) 7.6 ( 1.1) 4.4 ( 0.8) 0.1 ( 0.1)
Did not obtain a credit report 71.2 ( 1.9) 12.6 ( 1.5) 16.2 ( 1.5) 0.0 ( 0.0)
         
Obtained credit score 92.8 ( 1.4) 4.3 ( 1.1) 2.9 ( 0.8) 0.0 ( 0.0)
Did not obtain credit score 75.1 ( 1.5) 12.3 ( 1.2) 12.5 ( 1.0) 0.0 ( 0.0)
         
Disputed information on credit report 90.5 ( 2.0) 5.3 ( 1.6) 4.0 ( 1.3) 0.2 ( 0.2)
Did not dispute credit report information 78.8 ( 1.3) 10.7 ( 1.0) 10.5 ( 0.9) 0.0 ( 0.0)
         
Had an auto or mortgage loan 84.7 ( 1.2) 9.0 ( 1.0) 6.3 ( 0.8) 0.0 ( 0.0)
Did not have an auto or mortgage loan 68.1 ( 2.6) 12.3 ( 2.0) 19.6 ( 2.1) 0.0 ( 0.0)
         
Was a victim of identity theft 90.5 ( 2.7) 6.8 ( 2.5) 2.4 ( 1.0) 0.3 ( 0.3)
Was not a victim of identity theft 79.8 ( 1.2) 10.0 ( 0.9) 10.1 ( 0.8) 0.0 ( 0.0)
         
Obtained credit report due to an adverse action 88.2 ( 3.6) 6.7 ( 3.1) 5.1 ( 2.0) 0.0 ( 0.0)
Did not obtain credit report due to an adverse action 80.2 ( 1.2) 10.0 ( 0.9) 9.7 ( 0.8) 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