Q45a: How will having a credit history for a short time affect your credit score?

Demographic and experience categories Positive No effect Negative Do not know
All respondents 15.4 ( 1.1) 11.7 ( 0.9) 48.9 ( 1.5) 24.1 ( 1.2)
AGE GROUP        
18 to 24 20.8 ( 4.2) 13.1 ( 3.0) 41.4 ( 5.2) 24.6 ( 4.1)
25 to 34 11.6 ( 2.1) 9.5 ( 2.0) 60.7 ( 3.4) 18.2 ( 2.6)
35 to 44 19.0 ( 2.7) 13.7 ( 2.4) 53.2 ( 3.4) 14.1 ( 2.2)
45 to 54 13.3 ( 2.1) 11.9 ( 2.2) 52.6 ( 3.3) 22.1 ( 2.7)
55 to 64 17.7 ( 2.9) 8.4 ( 2.1) 52.2 ( 3.7) 21.6 ( 2.9)
65 and older 16.4 ( 2.3) 12.8 ( 2.2) 30.3 ( 3.1) 40.6 ( 3.2)
INCOME        
Less than $25000 17.0 ( 1.7) 11.4 ( 1.5) 36.3 ( 2.3) 35.3 ( 2.1)
$25000 to $49999 17.9 ( 2.4) 10.3 ( 1.7) 47.4 ( 3.1) 24.3 ( 2.6)
$50000 to $74999 14.4 ( 2.5) 14.0 ( 2.5) 57.7 ( 3.5) 13.9 ( 2.3)
$75000+ 15.7 ( 2.5) 11.4 ( 2.1) 60.1 ( 3.3) 12.8 ( 2.2)
EDUCATION        
Less than high school 20.3 ( 3.2) 6.5 ( 1.6) 19.0 ( 2.8) 54.2 ( 3.7)
High school 15.8 ( 1.8) 10.9 ( 1.5) 41.3 ( 2.5) 32.0 ( 2.3)
Some post-secondary education 18.0 ( 2.2) 13.6 ( 2.0) 51.3 ( 2.9) 17.2 ( 2.0)
BA or more 10.8 ( 1.7) 12.4 ( 1.7) 64.4 ( 2.6) 12.4 ( 1.7)
ETHNICITY        
White 14.2 ( 1.3) 11.8 ( 1.2) 52.8 ( 1.9) 21.2 ( 1.5)
Black 21.8 ( 2.6) 9.3 ( 1.7) 43.1 ( 3.0) 25.8 ( 2.6)
Hispanic 15.2 ( 2.4) 11.7 ( 2.1) 36.0 ( 3.0) 37.1 ( 3.0)
Other 16.3 ( 4.9) 15.0 ( 4.7) 44.6 ( 6.4) 24.0 ( 5.1)
SEX        
Male 14.9 ( 1.7) 11.3 ( 1.5) 54.3 ( 2.3) 19.5 ( 1.8)
Female 15.9 ( 1.3) 12.1 ( 1.2) 44.1 ( 1.8) 27.9 ( 1.5)
EMPLOYMENT STATUS        
Actively employed (FT or PT) 15.3 ( 1.4) 11.5 ( 1.2) 56.1 ( 1.9) 17.1 ( 1.4)
Student 28.3 ( 8.6) 17.0 ( 5.8) 38.3 ( 8.1) 16.4 ( 5.6)
Not employed (homemaker, retired, unemployed) 14.7 ( 1.7) 12.1 ( 1.5) 38.3 ( 2.3) 34.9 ( 2.2)
Other 9.3 ( 3.2) 7.5 ( 2.7) 34.7 ( 6.2) 48.5 ( 6.5)
GEOGRAPHIC RESIDENCE        
Resident of a free report state (CO, GA, ME, MD, MA, NJ, VT) 18.2 ( 2.6) 11.1 ( 1.9) 47.4 ( 3.1) 23.3 ( 2.5)
Resident of another state 15.0 ( 1.1) 11.8 ( 1.0) 49.1 ( 1.6) 24.2 ( 1.3)
FINANCIAL AND CREDIT REPORT EXPERIENCE        
Obtained a credit report 15.1 ( 1.4) 10.9 ( 1.2) 58.6 ( 1.9) 15.5 ( 1.3)
Did not obtain a credit report 15.8 ( 1.6) 12.8 ( 1.5) 35.6 ( 2.2) 35.8 ( 2.1)
         
Obtained credit score 13.7 ( 1.8) 12.3 ( 1.7) 64.4 ( 2.4) 9.6 ( 1.4)
Did not obtain credit score 16.2 ( 1.3) 11.4 ( 1.1) 41.3 ( 1.8) 31.1 ( 1.6)
         
Disputed information on credit report 12.1 ( 2.0) 10.8 ( 1.9) 60.8 ( 3.2) 16.4 ( 2.6)
Did not dispute credit report information 16.1 ( 1.2) 11.9 ( 1.0) 46.2 ( 1.6) 25.8 ( 1.3)
         
Had an auto or mortgage loan 14.3 ( 1.1) 11.6 ( 1.1) 53.6 ( 1.7) 20.5 ( 1.3)
Did not have an auto or mortgage loan 19.2 ( 2.5) 12.0 ( 1.8) 32.8 ( 2.9) 36.0 ( 2.7)
         
Was a victim of identity theft 16.0 ( 3.2) 13.1 ( 3.1) 52.2 ( 4.4) 18.7 ( 3.2)
Was not a victim of identity theft 15.3 ( 1.1) 11.5 ( 1.0) 48.5 ( 1.6) 24.7 ( 1.3)
         
Obtained credit report due to an adverse action 14.8 ( 3.6) 10.1 ( 2.6) 49.8 ( 5.2) 25.3 ( 4.5)
Did not obtain credit report due to an adverse action 15.4 ( 1.1) 11.8 ( 1.0) 48.8 ( 1.5) 24.0 ( 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