Q45b: How will having a credit history for a long time affect your credit score?

Demographic and experience categories Positive No effect Negative Do not know
All respondents 79.2 ( 1.1) 3.3 ( 0.5) 3.6 ( 0.5) 13.9 ( 0.9)
AGE GROUP        
18 to 24 70.4 ( 4.5) 5.6 ( 2.2) 5.2 ( 2.1) 18.8 ( 3.8)
25 to 34 82.2 ( 2.5) 4.5 ( 1.5) 3.3 ( 1.2) 9.9 ( 1.8)
35 to 44 85.3 ( 2.2) 1.6 ( 0.7) 2.7 ( 0.9) 10.3 ( 2.0)
45 to 54 85.0 ( 2.1) 3.7 ( 1.3) 2.4 ( 0.8) 8.9 ( 1.5)
55 to 64 86.8 ( 2.2) 0.6 ( 0.4) 3.4 ( 1.2) 9.2 ( 1.9)
65 and older 69.6 ( 2.9) 3.9 ( 1.2) 4.6 ( 1.4) 21.9 ( 2.6)
INCOME        
Less than $25000 67.5 ( 2.2) 2.3 ( 0.7) 6.7 ( 1.2) 23.5 ( 1.9)
$25000 to $49999 79.7 ( 2.4) 6.2 ( 1.4) 3.0 ( 0.9) 11.1 ( 1.8)
$50000 to $74999 89.0 ( 2.1) 3.1 ( 1.3) 1.4 ( 0.7) 6.5 ( 1.6)
$75000+ 90.6 ( 1.9) 1.6 ( 0.7) 1.8 ( 0.9) 6.0 ( 1.6)
EDUCATION        
Less than high school 52.0 ( 3.7) 3.7 ( 1.6) 5.0 ( 1.6) 39.3 ( 3.6)
High school 73.1 ( 2.2) 3.1 ( 0.9) 5.4 ( 1.2) 18.3 ( 1.9)
Some post-secondary education 85.8 ( 1.8) 1.8 ( 0.7) 2.9 ( 0.8) 9.5 ( 1.6)
BA or more 88.4 ( 1.7) 4.7 ( 1.1) 1.9 ( 0.6) 4.9 ( 1.2)
ETHNICITY        
White 84.1 ( 1.3) 2.7 ( 0.6) 2.9 ( 0.6) 10.4 ( 1.1)
Black 74.5 ( 2.6) 3.5 ( 1.0) 6.2 ( 1.7) 15.8 ( 2.1)
Hispanic 61.1 ( 3.1) 3.9 ( 1.4) 5.4 ( 1.4) 29.5 ( 2.8)
Other 72.9 ( 5.5) 9.6 ( 3.9) 1.9 ( 1.6) 15.7 ( 4.3)
SEX        
Male 84.0 ( 1.6) 2.4 ( 0.7) 3.8 ( 0.8) 9.8 ( 1.3)
Female 75.1 ( 1.5) 4.2 ( 0.8) 3.4 ( 0.6) 17.3 ( 1.3)
EMPLOYMENT STATUS        
Actively employed (FT or PT) 84.7 ( 1.3) 3.4 ( 0.7) 3.0 ( 0.6) 8.9 ( 1.0)
Student 74.0 ( 6.9) 4.2 ( 3.1) 4.4 ( 3.2) 17.4 ( 5.7)
Not employed (homemaker, retired, unemployed) 71.8 ( 2.0) 3.1 ( 0.8) 4.4 ( 0.9) 20.8 ( 1.8)
Other 62.9 ( 6.4) 2.8 ( 2.1) 5.0 ( 2.3) 29.3 ( 6.3)
GEOGRAPHIC RESIDENCE        
Resident of a free report state (CO, GA, ME, MD, MA, NJ, VT) 80.6 ( 2.4) 1.9 ( 0.8) 5.3 ( 1.5) 12.2 ( 1.9)
Resident of another state 79.0 ( 1.2) 3.5 ( 0.6) 3.3 ( 0.5) 14.2 ( 1.0)
FINANCIAL AND CREDIT REPORT EXPERIENCE        
Obtained a credit report 85.7 ( 1.3) 3.1 ( 0.7) 3.1 ( 0.6) 8.0 ( 1.0)
Did not obtain a credit report 70.2 ( 1.9) 3.5 ( 0.8) 4.2 ( 0.8) 22.1 ( 1.7)
         
Obtained credit score 90.8 ( 1.3) 2.9 ( 0.9) 2.0 ( 0.5) 4.4 ( 0.9)
Did not obtain credit score 73.5 ( 1.5) 3.5 ( 0.6) 4.4 ( 0.7) 18.6 ( 1.3)
         
Disputed information on credit report 87.6 ( 2.2) 1.7 ( 0.8) 3.1 ( 1.2) 7.6 ( 1.7)
Did not dispute credit report information 77.3 ( 1.3) 3.6 ( 0.6) 3.7 ( 0.5) 15.3 ( 1.1)
         
Had an auto or mortgage loan 85.2 ( 1.1) 3.0 ( 0.5) 3.2 ( 0.5) 8.7 ( 0.9)
Did not have an auto or mortgage loan 59.1 ( 2.9) 4.4 ( 1.3) 4.9 ( 1.2) 31.6 ( 2.7)
         
Was a victim of identity theft 81.0 ( 3.2) 2.5 ( 1.2) 3.7 ( 1.6) 12.9 ( 2.6)
Was not a victim of identity theft 79.0 ( 1.2) 3.4 ( 0.5) 3.6 ( 0.5) 14.1 ( 1.0)
         
Obtained credit report due to an adverse action 75.9 ( 4.2) 5.5 ( 2.3) 4.6 ( 1.8) 14.0 ( 3.5)
Did not obtain credit report due to an adverse action 79.5 ( 1.2) 3.1 ( 0.5) 3.5 ( 0.5) 13.9 ( 1.0)

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