Q4: How would you describe what a credit reporting agency (CRA) does?

Demographic and experience categories No knowledge Knowledge unclear Appears knowledgable
All respondents 27.8 ( 1.3) 53.5 ( 1.5) 18.7 ( 1.2)
AGE GROUP      
18 to 24 41.8 ( 4.9) 37.4 ( 5.0) 20.7 ( 4.8)
25 to 34 24.0 ( 2.9) 57.6 ( 3.5) 18.5 ( 2.9)
35 to 44 21.9 ( 2.7) 58.0 ( 3.4) 20.1 ( 2.8)
45 to 54 24.5 ( 2.7) 56.5 ( 3.2) 19.0 ( 2.6)
55 to 64 18.2 ( 2.6) 58.1 ( 3.6) 23.7 ( 3.3)
65 and older 31.3 ( 2.9) 53.3 ( 3.2) 15.4 ( 2.5)
INCOME      
Less than $25000 43.6 ( 2.3) 46.3 ( 2.3) 10.2 ( 1.5)
$25000 to $49999 23.9 ( 2.5) 60.2 ( 3.1) 16.0 ( 2.6)
$50000 to $74999 17.5 ( 2.7) 55.4 ( 3.5) 27.1 ( 3.2)
$75000+ 14.9 ( 2.4) 57.7 ( 3.4) 27.3 ( 3.1)
EDUCATION      
Less than high school 62.8 ( 3.6) 34.8 ( 3.6) 2.4 ( 1.0)
High school 33.2 ( 2.4) 55.3 ( 2.5) 11.6 ( 1.7)
Some post-secondary education 21.7 ( 2.3) 57.7 ( 2.9) 20.6 ( 2.5)
BA or more 16.0 ( 2.0) 54.3 ( 2.8) 29.7 ( 2.6)
ETHNICITY      
White 21.2 ( 1.5) 56.5 ( 1.9) 22.3 ( 1.6)
Black 33.9 ( 2.9) 52.2 ( 3.0) 13.8 ( 2.1)
Hispanic 49.9 ( 3.1) 42.6 ( 3.1) 7.5 ( 1.6)
Other 40.9 ( 6.2) 45.8 ( 6.4) 13.3 ( 4.6)
SEX      
Male 26.0 ( 2.0) 52.5 ( 2.3) 21.5 ( 2.1)
Female 29.0 ( 1.6) 54.7 ( 1.8) 16.3 ( 1.4)
EMPLOYMENT STATUS      
Actively employed (FT or PT) 22.9 ( 1.6) 57.1 ( 2.0) 20.0 ( 1.7)
Student 37.5 ( 7.8) 47.8 ( 8.6) 14.7 ( 6.0)
Not employed (homemaker, retired, unemployed) 34.7 ( 2.2) 48.0 ( 2.3) 17.2 ( 1.9)
Other 34.5 ( 6.4) 49.1 ( 6.4) 16.4 ( 5.2)
GEOGRAPHIC RESIDENCE      
Resident of a free report state (CO, GA, ME, MD, MA, NJ, VT) 22.1 ( 2.6) 58.0 ( 3.1) 19.9 ( 2.5)
Resident of another state 28.6 ( 1.4) 52.8 ( 1.6) 18.6 ( 1.3)
FINANCIAL AND CREDIT REPORT EXPERIENCE      
Obtained a credit report 17.6 ( 1.4) 59.8 ( 1.9) 22.7 ( 1.7)
Did not obtain a credit report 41.7 ( 2.2) 44.9 ( 2.2) 13.4 ( 1.8)
       
Obtained credit score 16.5 ( 1.9) 59.4 ( 2.5) 24.1 ( 2.2)
Did not obtain credit score 33.2 ( 1.6) 50.6 ( 1.8) 16.1 ( 1.5)
       
Disputed information on credit report 17.7 ( 2.6) 57.6 ( 3.3) 24.8 ( 2.9)
Did not dispute credit report information 30.0 ( 1.4) 52.6 ( 1.6) 17.4 ( 1.3)
       
Had an auto or mortgage loan 21.0 ( 1.3) 58.1 ( 1.7) 20.9 ( 1.4)
Did not have an auto or mortgage loan 50.4 ( 3.0) 38.0 ( 2.9) 11.6 ( 2.2)
       
Was a victim of identity theft 19.1 ( 3.2) 62.8 ( 4.2) 18.1 ( 3.5)
Was not a victim of identity theft 28.7 ( 1.3) 52.5 ( 1.5) 18.8 ( 1.3)
       
Obtained credit report due to an adverse action 17.6 ( 3.8) 60.1 ( 5.3) 22.3 ( 5.0)
Did not obtain credit report due to an adverse action 28.7 ( 1.3) 52.9 ( 1.5) 18.4 ( 1.2)

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