Q29: If you want to correct information on your credit report, what will the CRA do?

Demographic and experience categories Will charge you a set fee to investigate the info Will investigate for no cost Will charge an hourly rate to investigate the info Do not know
All respondents 9.2 ( 0.8) 28.1 ( 1.3) 2.3 ( 0.4) 60.4 ( 1.4)
AGE GROUP        
18 to 24 8.9 ( 2.6) 21.6 ( 4.2) 1.4 ( 1.1) 68.2 ( 4.7)
25 to 34 8.0 ( 2.0) 28.6 ( 3.2) 3.7 ( 1.4) 59.7 ( 3.5)
35 to 44 9.2 ( 1.8) 32.2 ( 3.2) 2.6 ( 1.2) 56.0 ( 3.4)
45 to 54 9.9 ( 1.9) 30.5 ( 3.0) 0.9 ( 0.7) 58.7 ( 3.2)
55 to 64 10.0 ( 2.2) 25.1 ( 3.3) 0.8 ( 0.5) 64.0 ( 3.6)
65 and older 7.8 ( 1.7) 25.9 ( 3.0) 3.3 ( 1.0) 63.0 ( 3.2)
INCOME        
Less than $25000 11.6 ( 1.4) 20.0 ( 1.8) 3.0 ( 0.7) 65.3 ( 2.2)
$25000 to $49999 6.7 ( 1.5) 30.2 ( 2.8) 2.3 ( 1.0) 60.8 ( 3.0)
$50000 to $74999 8.0 ( 1.9) 33.9 ( 3.4) 1.3 ( 0.6) 56.8 ( 3.5)
$75000+ 9.6 ( 2.0) 33.5 ( 3.3) 1.5 ( 1.1) 55.3 ( 3.4)
EDUCATION        
Less than high school 8.6 ( 2.0) 15.9 ( 2.8) 4.3 ( 1.4) 71.2 ( 3.4)
High school 10.3 ( 1.5) 25.4 ( 2.3) 2.1 ( 0.8) 62.2 ( 2.5)
Some post-secondary education 8.9 ( 1.5) 28.1 ( 2.5) 2.8 ( 1.0) 60.2 ( 2.8)
BA or more 8.4 ( 1.6) 35.1 ( 2.6) 1.3 ( 0.6) 55.2 ( 2.7)
ETHNICITY        
White 8.4 ( 1.0) 28.6 ( 1.7) 2.0 ( 0.5) 61.0 ( 1.9)
Black 14.2 ( 2.0) 31.2 ( 2.8) 2.9 ( 1.3) 51.7 ( 3.0)
Hispanic 7.5 ( 1.8) 22.4 ( 2.6) 2.3 ( 0.9) 67.8 ( 2.9)
Other 12.4 ( 4.3) 29.8 ( 5.9) 4.8 ( 2.8) 53.0 ( 6.4)
SEX        
Male 8.8 ( 1.3) 30.0 ( 2.1) 3.0 ( 0.8) 58.3 ( 2.3)
Female 9.4 ( 1.0) 26.6 ( 1.6) 1.7 ( 0.4) 62.4 ( 1.7)
EMPLOYMENT STATUS        
Actively employed (FT or PT) 8.9 ( 1.1) 30.2 ( 1.8) 2.2 ( 0.6) 58.6 ( 1.9)
Student 13.6 ( 6.1) 24.7 ( 7.0) 4.9 ( 3.6) 56.7 ( 8.4)
Not employed (homemaker, retired, unemployed) 9.3 ( 1.3) 26.0 ( 2.1) 2.4 ( 0.7) 62.3 ( 2.3)
Other 7.6 ( 3.4) 18.7 ( 5.2) 0.0 ( 0.0) 73.7 ( 5.8)
GEOGRAPHIC RESIDENCE        
Resident of a free report state (CO, GA, ME, MD, MA, NJ, VT) 8.4 ( 1.8) 33.4 ( 2.9) 1.3 ( 0.7) 56.9 ( 3.1)
Resident of another state 9.3 ( 0.9) 27.4 ( 1.4) 2.4 ( 0.5) 60.9 ( 1.6)
FINANCIAL AND CREDIT REPORT EXPERIENCE        
Obtained a credit report 7.5 ( 0.9) 35.3 ( 1.8) 1.8 ( 0.5) 55.4 ( 1.9)
Did not obtain a credit report 11.6 ( 1.4) 18.3 ( 1.8) 3.0 ( 0.8) 67.1 ( 2.1)
         
Obtained credit score 7.6 ( 1.3) 39.0 ( 2.5) 2.3 ( 0.9) 51.1 ( 2.5)
Did not obtain credit score 10.0 ( 1.0) 22.8 ( 1.5) 2.3 ( 0.5) 64.9 ( 1.7)
         
Disputed information on credit report 6.0 ( 1.4) 48.2 ( 3.4) 0.6 ( 0.5) 45.2 ( 3.3)
Did not dispute credit report information 9.9 ( 0.9) 23.7 ( 1.4) 2.7 ( 0.5) 63.7 ( 1.6)
         
Had an auto or mortgage loan 8.6 ( 0.9) 30.5 ( 1.6) 2.1 ( 0.5) 58.8 ( 1.7)
Did not have an auto or mortgage loan 11.2 ( 1.8) 20.2 ( 2.3) 3.0 ( 0.8) 65.5 ( 2.7)
         
Was a victim of identity theft 9.5 ( 2.5) 34.5 ( 4.1) 4.9 ( 2.4) 51.2 ( 4.4)
Was not a victim of identity theft 9.2 ( 0.9) 27.4 ( 1.4) 2.0 ( 0.4) 61.4 ( 1.5)
         
Obtained credit report due to an adverse action 10.3 ( 3.0) 40.5 ( 5.1) 1.5 ( 0.9) 47.7 ( 5.2)
Did not obtain credit report due to an adverse action 9.1 ( 0.8) 27.0 ( 1.4) 2.4 ( 0.5) 61.5 ( 1.5)

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