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Men Aren’t the Smartest When it Comes to Credit
The majority
of men – 61% - describe their knowledge of how credit scores work as good or
excellent.
They might
want to take a refresher.
More than
40% of men and women questioned in a new poll think a person’s age, marital
status, and ethnicity are among the components that determine a credit score.
Of course, none of them are. On all three of those questions, a significantly
higher percentage of men thought those things played a part in a credit score,
according to the annual survey of credit understanding.
The biggest
gender-knowledge gap was about whether marital status affected your credit
score. Additionally, fewer men correctly choose three ways a consumer could
improve a credit score, or maintain a high one.
Rather than
a knowledge gap, what women may suffer from in the credit arena is a confidence
gap: Even though they largely outdid men on the questions, fewer women – 54% -
rated their knowledge of credit as good or excellent.
These
figures replicate those relating to both genders, however, showed a decline in
their understanding of credit compared with last year’s survey. Fewer people
had success with a multiple-answer question about how much more a person with a
low credit score could pay on a 60-month auto loan, as well as with more basic
facts such as how everyone has more than one credit score, and that credit
repair companies rarely wind up actually repairing your credit understanding
and confidence for women in investment – read Girls Just Want to Have Funds for more on this. You can order from
our website www.strategies.co.nz.
Source:
Bloomberg.com
