It Pays to Know Your Score |
| Washington Post - Jul 11, 2008 |
Consumer understanding of credit scores has improved over the past year, according to an annual survey commissioned by the Consumer Federation of America (CFA) and Washington Mutual Bank (WaMu). But that's not saying much.
Credit scores are important. Very important. That's how lenders decide if you're too risky to lend money to. According to this survey, the results of which were released Thursday, fewer than one-third of Americans know that credit scores indicate risk of not repaying a loan.
"Lack of consumer knowledge about credit scores not only increases the costs of their credit and insurance, but also reduces the availability of these and other services," said Stephen Brobeck, executive director of the CFA.
Read Full Article from Washington Post
- Posted: 2008-07-11 09:38:46
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