Annual Survey Reveals That Low-Income Consumers Are Most Likely To Seek Credit yet Know the Least about Credit Scores · Consumer Federation of America

Washington, D.C. – The tenth annual credit score survey, released today by the Consumer Federation of America (CFA) and VantageScore Solutions, LLC, shows that low-income households are most likely to apply for credit in the next 12 months.  Yet, the survey also reveals that these households generally know much less about credit scores than households with higher incomes. The phone...

READ MORE Annual Survey Reveals That Low-Income Consumers Are Most Likely To Seek Credit yet Know the Least about Credit Scores · Consumer Federation of America

Defendants in FTC Credit Repair Scheme Case Agree to Settle Charges

The operators of a bogus credit repair scheme are banned from the credit repair business and subject to a wide array of other requirements under settlement terms with the Federal Trade Commission. The settlements relate to an FTC complaint filed in June 2019[1] alleging that the defendants targeted consumers with false promises of substantially improving consumers’ credit scores by claiming...

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Consumer Knowledge about Credit Scores has Steadily Declined over the Past Eight Years · Consumer Federation of America

Washington, D.C. – The ninth annual credit score survey, released today by the Consumer Federation of America (CFA) and VantageScore Solutions, LLC, shows that consumer knowledge about credit scores is at the lowest level in the past eight years. On most knowledge questions (as the enclosed table and charts show), correct scores declined by more than ten percentage points, and...

READ MORE Consumer Knowledge about Credit Scores has Steadily Declined over the Past Eight Years · Consumer Federation of America