What's Your Score?

A person's credit report holds a wealth of information that can make or break a person's chances in all different realms of their lives. The credit report can hold the key to if they can obtain a certain job, gain licensing in different fields, and receive financing for such things as homes and automobiles. Credit reports contain important information on past and current debt and liabilities, inquiries of current credit pulling, and potential identity theft. Since credit reports are so valuable, it is shocking to know that most Americans do not know their credit score! A nationwide phone survey of 1,000 adults conducted from September 9-11, 2011 by Visa showed that 42 percent of people surveyed do not check their credit score regularly. Some other interesting data that was derived from this report includes:

• 64 percent thought income was a factor
• 50.9 percent believed employment history was a factor of their score
• 53.1 percent thought assets and savings were part of their score
• 39.6 percent believed age was included in their score
• 21.6 percent thought the ability to speak English had a positive effect on their score
• 17.2 percent said gender had an impact on their score
• 15.7 percent thought race was considered when establishing a credit score

There seems to be a need to educate the American population on what their credit report includes and how it affects them. Free reports can be obtained annually from www.annualcreditreport.com and Aapex Financial Solutions is always willing to help with any credit report questions you may have. Visit us at http://www.aapexfinancial.net/.