Q45g: How will skipping a loan payment that is due affect your credit score?

Demographic and experience categories Positive No effect Negative Do not know
All respondents 3.7 ( 0.5) 1.7 ( 0.3) 86.9 ( 0.9) 7.8 ( 0.7)
AGE GROUP        
18 to 24 3.4 ( 1.7) 0.8 ( 0.6) 84.9 ( 3.2) 10.9 ( 2.8)
25 to 34 2.3 ( 0.8) 0.8 ( 0.5) 90.8 ( 1.5) 6.1 ( 1.2)
35 to 44 3.5 ( 1.1) 1.1 ( 0.6) 93.0 ( 1.4) 2.3 ( 0.7)
45 to 54 4.3 ( 1.4) 1.5 ( 0.8) 88.3 ( 1.9) 5.9 ( 1.1)
55 to 64 2.4 ( 1.0) 3.2 ( 1.2) 91.3 ( 1.8) 3.0 ( 0.9)
65 and older 5.6 ( 1.4) 1.1 ( 0.7) 79.8 ( 2.5) 13.5 ( 2.0)
INCOME        
Less than $25000 6.0 ( 1.1) 1.8 ( 0.6) 74.3 ( 2.0) 17.9 ( 1.7)
$25000 to $49999 3.6 ( 1.0) 1.4 ( 0.7) 92.4 ( 1.4) 2.6 ( 0.8)
$50000 to $74999 3.8 ( 1.3) 2.1 ( 0.9) 91.7 ( 1.8) 2.3 ( 0.9)
$75000+ 1.7 ( 0.8) 1.3 ( 0.6) 95.8 ( 1.1) 1.2 ( 0.6)
EDUCATION        
Less than high school 9.3 ( 2.2) 2.0 ( 0.9) 55.4 ( 3.7) 33.3 ( 3.4)
High school 5.0 ( 1.0) 1.9 ( 0.6) 83.9 ( 1.7) 9.2 ( 1.3)
Some post-secondary education 2.9 ( 0.8) 1.6 ( 0.6) 93.2 ( 1.3) 2.4 ( 0.8)
BA or more 1.3 ( 0.6) 1.5 ( 0.5) 94.6 ( 1.1) 2.7 ( 0.8)
ETHNICITY        
White 3.1 ( 0.6) 1.2 ( 0.4) 92.0 ( 0.9) 3.6 ( 0.6)
Black 5.1 ( 1.3) 2.9 ( 1.0) 84.0 ( 2.1) 8.0 ( 1.5)
Hispanic 5.2 ( 1.4) 3.2 ( 1.1) 62.5 ( 3.0) 29.1 ( 2.8)
Other 3.8 ( 2.3) 0.6 ( 0.6) 90.6 ( 3.4) 5.1 ( 2.6)
SEX        
Male 3.1 ( 0.8) 1.4 ( 0.4) 89.3 ( 1.3) 6.1 ( 1.0)
Female 4.2 ( 0.7) 1.9 ( 0.5) 85.0 ( 1.1) 8.8 ( 0.8)
EMPLOYMENT STATUS        
Actively employed (FT or PT) 2.9 ( 0.6) 1.0 ( 0.3) 91.3 ( 1.0) 4.8 ( 0.7)
Student 0.0 ( 0.0) 0.0 ( 0.0) 95.7 ( 2.5) 4.3 ( 2.5)
Not employed (homemaker, retired, unemployed) 5.1 ( 1.0) 2.9 ( 0.8) 78.5 ( 1.8) 13.6 ( 1.4)
Other 7.7 ( 3.1) 3.5 ( 2.1) 78.1 ( 5.0) 10.7 ( 3.7)
GEOGRAPHIC RESIDENCE        
Resident of a free report state (CO, GA, ME, MD, MA, NJ, VT) 3.5 ( 1.1) 1.2 ( 0.6) 89.2 ( 1.8) 6.0 ( 1.3)
Resident of another state 3.7 ( 0.5) 1.7 ( 0.4) 86.5 ( 1.0) 8.0 ( 0.7)
FINANCIAL AND CREDIT REPORT EXPERIENCE        
Obtained a credit report 3.1 ( 0.6) 2.0 ( 0.5) 92.4 ( 0.9) 2.6 ( 0.5)
Did not obtain a credit report 4.5 ( 0.8) 1.3 ( 0.4) 79.3 ( 1.6) 14.9 ( 1.4)
         
Obtained credit score 2.5 ( 0.7) 1.8 ( 0.5) 93.6 ( 1.1) 2.1 ( 0.5)
Did not obtain credit score 4.3 ( 0.6) 1.6 ( 0.4) 83.6 ( 1.2) 10.6 ( 0.9)
         
Disputed information on credit report 1.8 ( 0.6) 2.8 ( 0.9) 94.0 ( 1.3) 1.5 ( 0.6)
Did not dispute credit report information 4.1 ( 0.6) 1.4 ( 0.3) 85.3 ( 1.0) 9.2 ( 0.8)
         
Had an auto or mortgage loan 3.5 ( 0.6) 1.9 ( 0.4) 91.1 ( 0.8) 3.5 ( 0.5)
Did not have an auto or mortgage loan 4.2 ( 1.0) 1.0 ( 0.5) 72.7 ( 2.4) 22.1 ( 2.2)
         
Was a victim of identity theft 4.8 ( 1.7) 2.6 ( 1.3) 89.4 ( 2.3) 3.2 ( 1.2)
Was not a victim of identity theft 3.6 ( 0.5) 1.6 ( 0.3) 86.6 ( 0.9) 8.3 ( 0.7)
         
Obtained credit report due to an adverse action 2.9 ( 1.2) 1.2 ( 0.7) 95.1 ( 1.5) 0.9 ( 0.6)
Did not obtain credit report due to an adverse action 3.8 ( 0.5) 1.7 ( 0.3) 86.1 ( 0.9) 8.4 ( 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