Q25: As far as understanding your credit report, did you find the information to be...

Demographic and experience categories Very easy to understand Somewhat easy to understand Somewhat hard to understand Very hard to understand Do not know
All respondents 36.6 ( 1.8) 42.1 ( 1.9) 14.3 ( 1.3) 4.5 ( 0.8) 2.5 ( 0.7)
AGE GROUP          
18 to 24 43.2 (10.5) 43.7 (11.5) 1.9 ( 1.9) 6.7 ( 5.1) 4.5 ( 4.4)
25 to 34 34.4 ( 4.1) 42.8 ( 4.4) 16.0 ( 3.0) 4.0 ( 1.9) 2.8 ( 1.6)
35 to 44 31.8 ( 3.7) 47.5 ( 4.0) 13.8 ( 2.8) 5.5 ( 1.7) 1.4 ( 1.2)
45 to 54 39.0 ( 3.9) 39.6 ( 3.9) 16.4 ( 3.0) 3.2 ( 1.3) 1.7 ( 1.0)
55 to 64 28.4 ( 4.2) 47.6 ( 4.8) 14.8 ( 3.5) 6.6 ( 2.2) 2.6 ( 1.8)
65 and older 51.0 ( 5.3) 28.2 ( 4.6) 12.4 ( 3.6) 3.9 ( 1.9) 4.4 ( 2.5)
INCOME          
Less than $25000 40.5 ( 3.6) 34.0 ( 3.4) 15.9 ( 2.5) 7.6 ( 2.1) 2.1 ( 0.9)
$25000 to $49999 35.4 ( 3.8) 43.5 ( 4.2) 12.2 ( 2.5) 5.7 ( 1.7) 3.2 ( 1.5)
$50000 to $74999 35.9 ( 3.9) 45.1 ( 4.1) 14.9 ( 2.9) 2.1 ( 1.0) 1.9 ( 1.4)
$75000+ 36.3 ( 3.7) 42.5 ( 3.8) 14.7 ( 2.9) 3.7 ( 1.7) 2.7 ( 1.4)
EDUCATION          
Less than high school 30.3 ( 6.4) 37.0 ( 7.4) 11.6 ( 4.3) 10.5 ( 5.4) 10.5 ( 4.5)
High school 37.6 ( 3.4) 37.7 ( 3.6) 14.7 ( 2.6) 6.9 ( 1.9) 3.1 ( 1.4)
Some post-secondary education 34.3 ( 3.2) 47.7 ( 3.5) 12.2 ( 2.2) 3.9 ( 1.4) 1.9 ( 1.0)
BA or more 38.7 ( 3.2) 41.0 ( 3.2) 16.1 ( 2.4) 2.4 ( 0.9) 1.7 ( 1.0)
ETHNICITY          
White 36.7 ( 2.3) 42.9 ( 2.4) 13.3 ( 1.6) 3.9 ( 0.9) 3.1 ( 0.9)
Black 37.5 ( 3.6) 41.2 ( 3.7) 14.5 ( 2.6) 5.9 ( 1.8) 0.9 ( 0.7)
Hispanic 35.7 ( 4.5) 40.8 ( 4.8) 16.3 ( 3.7) 5.9 ( 2.1) 1.3 ( 0.9)
Other 34.2 ( 7.8) 35.7 ( 8.3) 24.2 ( 7.5) 5.8 ( 4.8) 0.0 ( 0.0)
SEX          
Male 31.7 ( 2.8) 44.8 ( 3.1) 15.5 ( 2.2) 5.5 ( 1.4) 2.5 ( 1.1)
Female 41.4 ( 2.4) 39.4 ( 2.4) 13.2 ( 1.6) 3.5 ( 0.8) 2.5 ( 0.8)
EMPLOYMENT STATUS          
Actively employed (FT or PT) 35.9 ( 2.3) 44.2 ( 2.4) 14.2 ( 1.7) 4.8 ( 1.0) 0.9 ( 0.5)
Student 34.1 (12.8) 47.5 (15.2) 18.4 ( 9.1) 0.0 ( 0.0) 0.0 ( 0.0)
Not employed (homemaker, retired, unemployed) 40.2 ( 3.5) 35.0 ( 3.5) 14.3 ( 2.4) 4.2 ( 1.5) 6.4 ( 2.0)
Other 29.8 ( 7.7) 47.5 ( 8.5) 13.3 ( 4.9) 3.6 ( 2.2) 5.8 ( 4.6)
GEOGRAPHIC RESIDENCE          
Resident of a free report state (CO, GA, ME, MD, MA, NJ, VT) 41.0 ( 3.6) 40.8 ( 3.7) 12.5 ( 2.4) 5.0 ( 1.7) 0.8 ( 0.5)
Resident of another state 35.9 ( 2.0) 42.3 ( 2.2) 14.6 ( 1.5) 4.4 ( 0.9) 2.8 ( 0.8)
FINANCIAL AND CREDIT REPORT EXPERIENCE          
Obtained a credit report 36.6 ( 1.8) 42.1 ( 1.9) 14.3 ( 1.3) 4.5 ( 0.8) 2.5 ( 0.7)
Did not obtain a credit report . ( . ) . ( . ) . ( . ) . ( . ) . ( . )
           
Obtained credit score 36.7 ( 2.5) 44.0 ( 2.6) 13.9 ( 1.9) 2.8 ( 1.0) 2.6 ( 1.0)
Did not obtain credit score 36.5 ( 2.6) 40.0 ( 2.8) 14.7 ( 1.9) 6.3 ( 1.3) 2.5 ( 0.8)
           
Disputed information on credit report 36.7 ( 3.4) 42.6 ( 3.5) 14.9 ( 2.4) 4.7 ( 1.5) 1.0 ( 0.8)
Did not dispute credit report information 36.6 ( 2.2) 41.9 ( 2.3) 14.0 ( 1.6) 4.4 ( 0.9) 3.2 ( 0.9)
           
Had an auto or mortgage loan 36.0 ( 1.9) 42.6 ( 2.0) 14.7 ( 1.5) 4.4 ( 0.8) 2.3 ( 0.7)
Did not have an auto or mortgage loan 41.4 ( 5.4) 38.5 ( 6.1) 11.0 ( 2.7) 5.0 ( 2.3) 4.2 ( 2.2)
           
Was a victim of identity theft 34.0 ( 4.9) 40.1 ( 5.0) 17.9 ( 4.2) 8.1 ( 2.7) 0.0 ( 0.0)
Was not a victim of identity theft 37.0 ( 2.0) 42.4 ( 2.1) 13.8 ( 1.4) 4.0 ( 0.8) 2.9 ( 0.7)
           
Obtained credit report due to an adverse action 34.0 ( 4.7) 46.2 ( 5.3) 14.8 ( 3.5) 3.4 ( 1.3) 1.6 ( 1.6)
Did not obtain credit report due to an adverse action 37.1 ( 2.0) 41.4 ( 2.1) 14.2 ( 1.4) 4.6 ( 0.9) 2.7 ( 0.7)

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