Q48c: According to a new law that affects your rights regarding credit, will the use of credit scores by lenders be prohibited?

Demographic and experience categories Yes No Do not know Refused
All respondents 9.0 ( 0.8) 33.0 ( 1.4) 57.4 ( 1.4) 0.6 ( 0.2)
AGE GROUP        
18 to 24 7.5 ( 2.5) 28.3 ( 4.4) 63.0 ( 4.8) 1.2 ( 0.7)
25 to 34 7.1 ( 1.8) 33.4 ( 3.4) 59.5 ( 3.5) 0.0 ( 0.0)
35 to 44 8.0 ( 1.8) 32.9 ( 3.2) 58.7 ( 3.4) 0.4 ( 0.3)
45 to 54 9.2 ( 1.9) 36.9 ( 3.2) 53.4 ( 3.3) 0.5 ( 0.4)
55 to 64 6.6 ( 1.5) 39.8 ( 3.7) 51.8 ( 3.7) 1.8 ( 1.1)
65 and older 13.1 ( 2.2) 30.1 ( 3.1) 56.3 ( 3.3) 0.5 ( 0.4)
INCOME        
Less than $25000 11.7 ( 1.5) 23.4 ( 2.0) 63.8 ( 2.2) 1.0 ( 0.4)
$25000 to $49999 10.5 ( 1.9) 33.7 ( 2.9) 55.2 ( 3.1) 0.7 ( 0.4)
$50000 to $74999 6.0 ( 1.5) 36.4 ( 3.4) 57.4 ( 3.5) 0.2 ( 0.2)
$75000+ 4.8 ( 1.5) 44.5 ( 3.4) 50.1 ( 3.4) 0.6 ( 0.5)
EDUCATION        
Less than high school 16.8 ( 3.0) 16.2 ( 2.7) 65.6 ( 3.6) 1.4 ( 0.7)
High school 11.3 ( 1.6) 29.0 ( 2.3) 58.7 ( 2.5) 1.0 ( 0.5)
Some post-secondary education 7.7 ( 1.5) 32.3 ( 2.6) 59.3 ( 2.8) 0.7 ( 0.3)
BA or more 5.1 ( 1.1) 43.1 ( 2.7) 51.8 ( 2.8) 0.0 ( 0.0)
ETHNICITY        
White 7.5 ( 1.0) 35.5 ( 1.8) 56.4 ( 1.9) 0.6 ( 0.2)
Black 15.5 ( 2.2) 28.8 ( 2.8) 54.9 ( 3.0) 0.8 ( 0.6)
Hispanic 7.7 ( 1.8) 21.7 ( 2.6) 69.5 ( 2.9) 1.1 ( 0.5)
Other 16.4 ( 4.7) 39.6 ( 6.3) 44.0 ( 6.3) 0.0 ( 0.0)
SEX        
Male 9.7 ( 1.4) 35.6 ( 2.2) 54.4 ( 2.3) 0.3 ( 0.2)
Female 8.3 ( 0.9) 30.7 ( 1.7) 60.0 ( 1.8) 1.0 ( 0.3)
EMPLOYMENT STATUS        
Actively employed (FT or PT) 7.5 ( 1.0) 37.6 ( 1.9) 54.3 ( 2.0) 0.5 ( 0.2)
Student 5.7 ( 2.9) 26.8 ( 7.4) 66.1 ( 7.8) 1.3 ( 1.3)
Not employed (homemaker, retired, unemployed) 11.7 ( 1.5) 27.0 ( 2.1) 60.4 ( 2.3) 0.8 ( 0.3)
Other 11.4 ( 3.4) 17.7 ( 4.4) 71.0 ( 5.3) 0.0 ( 0.0)
GEOGRAPHIC RESIDENCE        
Resident of a free report state (CO, GA, ME, MD, MA, NJ, VT) 8.6 ( 1.7) 39.4 ( 3.1) 51.4 ( 3.1) 0.6 ( 0.4)
Resident of another state 9.0 ( 0.9) 32.0 ( 1.5) 58.3 ( 1.6) 0.6 ( 0.2)
FINANCIAL AND CREDIT REPORT EXPERIENCE        
Obtained a credit report 8.0 ( 1.0) 38.1 ( 1.9) 53.5 ( 1.9) 0.4 ( 0.2)
Did not obtain a credit report 10.2 ( 1.3) 26.0 ( 2.0) 62.8 ( 2.2) 1.0 ( 0.4)
         
Obtained credit score 6.3 ( 1.2) 43.2 ( 2.5) 50.4 ( 2.5) 0.1 ( 0.1)
Did not obtain credit score 10.3 ( 1.0) 28.0 ( 1.6) 60.9 ( 1.7) 0.9 ( 0.3)
         
Disputed information on credit report 8.1 ( 1.6) 36.8 ( 3.2) 54.9 ( 3.3) 0.2 ( 0.2)
Did not dispute credit report information 9.1 ( 0.9) 32.2 ( 1.5) 58.0 ( 1.6) 0.7 ( 0.2)
         
Had an auto or mortgage loan 8.7 ( 0.9) 35.9 ( 1.6) 54.9 ( 1.7) 0.5 ( 0.2)
Did not have an auto or mortgage loan 9.7 ( 1.7) 23.2 ( 2.5) 65.8 ( 2.8) 1.2 ( 0.5)
         
Was a victim of identity theft 8.7 ( 2.5) 35.8 ( 4.2) 55.5 ( 4.4) 0.0 ( 0.0)
Was not a victim of identity theft 9.0 ( 0.9) 32.7 ( 1.5) 57.6 ( 1.5) 0.7 ( 0.2)
         
Obtained credit report due to an adverse action 13.1 ( 2.9) 30.1 ( 4.7) 56.7 ( 5.1) 0.0 ( 0.0)
Did not obtain credit report due to an adverse action 8.6 ( 0.8) 33.2 ( 1.4) 57.5 ( 1.5) 0.7 ( 0.2)

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