81% of Americans Know Credit Bureaus Assign Credit Scores, But Only 30% Can Name All Three: Experian, Equifax, and TransUnion

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A FreeScore.com January/February 2011 survey of 1,000 Americans 18+ revealed results.

According to Carrie Coghill, director of consumer education for FreeScore.com, "You really never know which bureau a lender may rely on when evaluating your loan application."

Eighty-one percent of Americans know that credit bureaus assign their credit scores, but only 30% of Americans can actually name these three credit bureaus (Experian, Equifax, and TransUnion), as revealed by The First Quarter 2011 FreeScore.com Consumer Survey on Credit Score Awareness. The survey queried 1,000 Americans 18+ and was fielded and analyzed in January and February 2011.

Detailed results revealed that:

  •     30% of respondents could name all three bureaus;
  •     48% could name at least two bureaus; and
  •     69% could name at least one bureau.

According to Carrie Coghill, director of consumer education for FreeScore.com, "These days, it's vital that people know they have three credit scores from three major bureaus. You really never know which bureau a lender may rely on when evaluating your loan application."

Americans with at least some college education are more likely to be able to recall the names of all three credit bureaus, while Americans with the lowest incomes are less likely to know the names of all three credit bureaus.

Men and women are equally able to recall the names of the three credit bureaus.

The consumer's age has little or no effect on whether or not people can recall the names of all three credit bureaus.

The survey results of respondents' awareness of three credit bureaus segmented by education, income, gender, and age, are below.

Education        
High School or less - (85% Not Aware) - (15% Aware)
Some College - (71% Not Aware) - (29% Aware)
College and Higher - (68% Not Aware) - (32% Aware)

Income    
Less than $35K - (74% Not Aware) - (26% Aware)
($35K-$49.9K) - (65% Not Aware) - (35% Aware)
($50K-$74.9K) - (68% Not Aware) - (32% Aware)
($75K+) - (68% Not Aware) - (32% Aware)

Gender        
Male - (70% Not Aware) - (30% Aware)
Female - (69% Not Aware) - (31% Aware)

Age            
(18-34) - (71% Not Aware) - (29% Aware)
(35-54) - (67% Not Aware) - (33% Aware)
55 and older - (73% Not Aware) - (27% Aware)

About FreeScore.com
FreeScore.com is the leading online consumer credit site, providing consumers with affordable, unlimited access to all three of their credit scores and complete credit profile. Launched in 2009 with an award-winning advertising campaign featuring actor, economist, and lawyer, Ben Stein, FreeScore.com has serviced more than 750,000 members. Members have unlimited access to their credit scores from all three bureaus, a complete credit profile, and expert tips, articles, videos and other educational information about credit management. FreeScore.com is a product of FYI Direct. For more information, go to FreeScore.com.

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The articles and information available are for educational and reference purposes only. They do not constitute, and should not be construed as, legal or financial advice. Any legal or financial principles discussed here are for general information purposes only and may differ substantially in individual situations and/or in different states or countries. For specific legal or financial advice, please consult a licensed attorney or a financial professional. FreeScore does not control or guarantee the accuracy of any information provided through external links from the articles on this website to any other website, nor does the FreeScore Privacy Policy apply to any personal information that may be collected via the external links.

*The survey was conducted by Survey Sampling International. The data for the FreeScore.com survey were collected and analyzed in January-February 2011 through Survey Sampling International in Shelton, Connecticut. Results have a margin of error +/- 5%.

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