Credit Card Insider Releases Credit Score Misconceptions Survey

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* Credit Cards

* Finance

* Syracuse - New York - US

* Surveys

SYRACUSE, N.Y. - June 13, 2019 - PRLog -- In their new Credit Score Misconceptions Survey, Credit Card Insider surveyed 1,051 adults in the United States to determine the accuracy of the participants' understanding of credit scores. The results revealed that there are several widespread credit-related myths.

A few surprising results from the 2019 Credit Score Misconceptions Survey include:

• 61% of Americans think that income has an impact on credit scores, while it doesn't.

• 42% believe using your debit card or selecting "credit" while using your debit card builds credit history or helps credit scores, which isn't true.

• An overwhelming 79% of respondents think credit scores are listed on copies of your credit reports, when in fact they're not.

• 29% of survey participants think that closing a credit card is good for your credit scores, when it's not.

• 70% have never heard of VantageScore, one of the nation's premier credit scoring brands.

The complete 2019 Credit Score Misconceptions Survey, including recommendations on understanding and improving credit scores, can be found here:

About Credit Card Insider

Credit Card Insider was established in 2012 and aims to empower people to use credit cards to their advantage, with confidence. The organization encourages the understanding of how credit cards work and how to build credit, while endorsing responsible credit card use. Credit cards are serious financial tools, and can cause long-lasting negative financial consequences when used irresponsibly. The focus from Credit Card Insider is on the long term: to disperse knowledge and promote habits that lead to excellent credit, and to teach readers how to determine which credit cards are right for them.

Jacob Lunduski
Lead Credit Industry Analyst, Credit Card Insider
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