Fri
Aug 25 2017
12:02 pm

Lendedu survey: How Much Do Millennials Know About Credit Scores?

Which of the following best describes the true meaning of a credit score?

  • 74.35% correctly answered "the number which indicates your calculated credit risk."
  • 10.42% answered "the number assigned to you at birth which gives you priority from financial institutions."
  • 10.22% answered "an official government system which is used to score the fairness of banks."
  • 5.01% answered "the number used to track your position on the waiting list for a credit card."

Also, 39% of respondents believed the Federal Reserve was one of the major credit bureaus.

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