Q46: What is a possible credit score?

Demographic and experience categories Correct Do not know Incorrect
All respondents 28.2 ( 1.4) 28.0 ( 1.3) 43.8 ( 1.4)
AGE GROUP      
18 to 24 24.2 ( 4.6) 25.3 ( 4.2) 50.6 ( 5.1)
25 to 34 39.2 ( 3.5) 20.3 ( 2.8) 40.4 ( 3.5)
35 to 44 34.6 ( 3.3) 25.0 ( 3.0) 40.3 ( 3.4)
45 to 54 25.7 ( 2.9) 24.1 ( 2.8) 50.2 ( 3.3)
55 to 64 23.9 ( 3.2) 31.3 ( 3.4) 44.8 ( 3.7)
65 and older 15.6 ( 2.5) 39.6 ( 3.2) 44.7 ( 3.2)
INCOME      
Less than $25000 14.7 ( 1.7) 33.5 ( 2.2) 51.7 ( 2.3)
$25000 to $49999 27.6 ( 2.9) 23.6 ( 2.5) 48.8 ( 3.1)
$50000 to $74999 38.0 ( 3.4) 28.2 ( 3.2) 33.9 ( 3.4)
$75000+ 40.3 ( 3.3) 20.2 ( 2.7) 39.4 ( 3.4)
EDUCATION      
Less than high school 8.1 ( 2.2) 36.1 ( 3.6) 55.8 ( 3.7)
High school 18.1 ( 2.0) 32.8 ( 2.4) 49.1 ( 2.5)
Some post-secondary education 31.7 ( 2.7) 22.8 ( 2.2) 45.5 ( 2.9)
BA or more 41.9 ( 2.7) 25.0 ( 2.4) 33.1 ( 2.6)
ETHNICITY      
White 30.0 ( 1.8) 28.2 ( 1.7) 41.7 ( 1.9)
Black 29.4 ( 2.8) 24.1 ( 2.5) 46.5 ( 3.0)
Hispanic 15.2 ( 2.3) 28.3 ( 2.8) 56.5 ( 3.1)
Other 36.1 ( 6.4) 32.8 ( 5.9) 31.1 ( 5.7)
SEX      
Male 31.8 ( 2.2) 23.1 ( 1.9) 45.1 ( 2.3)
Female 24.8 ( 1.6) 32.4 ( 1.7) 42.8 ( 1.8)
EMPLOYMENT STATUS      
Actively employed (FT or PT) 33.1 ( 1.8) 25.3 ( 1.7) 41.7 ( 1.9)
Student 34.6 ( 9.0) 18.3 ( 5.7) 47.1 ( 8.4)
Not employed (homemaker, retired, unemployed) 19.0 ( 2.0) 33.6 ( 2.2) 47.4 ( 2.3)
Other 22.1 ( 5.0) 31.9 ( 6.2) 46.0 ( 6.4)
GEOGRAPHIC RESIDENCE      
Resident of a free report state (CO, GA, ME, MD, MA, NJ, VT) 34.9 ( 3.0) 20.4 ( 2.4) 44.7 ( 3.1)
Resident of another state 27.2 ( 1.5) 29.1 ( 1.4) 43.7 ( 1.6)
FINANCIAL AND CREDIT REPORT EXPERIENCE      
Obtained a credit report 40.7 ( 1.9) 23.1 ( 1.6) 36.2 ( 1.8)
Did not obtain a credit report 11.1 ( 1.5) 34.7 ( 2.1) 54.2 ( 2.2)
       
Obtained credit score 60.2 ( 2.5) 13.3 ( 1.7) 26.5 ( 2.2)
Did not obtain credit score 12.6 ( 1.3) 35.1 ( 1.7) 52.3 ( 1.8)
       
Disputed information on credit report 45.7 ( 3.3) 18.7 ( 2.6) 35.6 ( 3.2)
Did not dispute credit report information 24.4 ( 1.5) 30.0 ( 1.4) 45.6 ( 1.6)
       
Had an auto or mortgage loan 31.8 ( 1.6) 26.6 ( 1.4) 41.6 ( 1.7)
Did not have an auto or mortgage loan 16.3 ( 2.6) 32.5 ( 2.7) 51.2 ( 3.0)
       
Was a victim of identity theft 31.2 ( 4.1) 28.7 ( 3.9) 40.1 ( 4.3)
Was not a victim of identity theft 27.9 ( 1.4) 27.9 ( 1.4) 44.2 ( 1.5)
       
Obtained credit report due to an adverse action 37.9 ( 5.3) 23.6 ( 4.4) 38.4 ( 4.9)
Did not obtain credit report due to an adverse action 27.3 ( 1.4) 28.4 ( 1.3) 44.3 ( 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