Recent survey data says 58 percent of customers saw their credit reviews at some stage in time, 45 percent saw them during the last twelve months. Other research has noted that 43 to 63 percent of the participants saw their credit reviews. We requested the Consumer Data Industry Association (CDIA)-the guys that represent the credit report agencies-the number of credit reviews Equifax, Experian, and TransUnion had deliver to customers in one year. CDIA informed us that 57.4 million credit reviews were released to individuals each year. Within our questionnaire, we wanted to know how many of the 58 percent of customers who mentioned that they checked out their credit reviews had purchased their reviews individually or had other people access their account. From the clients who saw their credit reviews, 53 percent stated that they acquired their report by themselves, and 47 percent stated another person or group bought it, on their behalf, including:
* a home financing business (29 percent),
* a bank or lending company (25 %),
* a lender in general (16 %),
* a car dealership (12 percent),
* a charge card company (four percent), and
* various other sources (14 percent).
From the 58 percent of customers who told us they'd seen their reviews, the biggest percentage stated that they'd seen their reviews simply because they were after a large purchase- a vehicle or home, or were refinancing. The credit confirming biz has additionally collected particulars around the reasons people order their reviews and discovered that:
* 39 percent of participants checked out their credit reports because they were inquisitive,
* 31 % were ready to apply for a loan or credit card,
* 10 % had been denied credit,
* 6 % were worried about id info being stolen,
* 12 percent had other sorts of reasons, and
* 1 % did not know why they'd seen their reviews. Maybe it was late at night after the bar. Who knows?
We also asked people who had seen their reports whether they understood the content. Almost all them-79 percent-felt that the data on their reports was very or somewhat straightforward.
18 percent felt their reviews were somewhat or very difficult to understand, and 3 % did not know.
* a home financing business (29 percent),
* a bank or lending company (25 %),
* a lender in general (16 %),
* a car dealership (12 percent),
* a charge card company (four percent), and
* various other sources (14 percent).
From the 58 percent of customers who told us they'd seen their reviews, the biggest percentage stated that they'd seen their reviews simply because they were after a large purchase- a vehicle or home, or were refinancing. The credit confirming biz has additionally collected particulars around the reasons people order their reviews and discovered that:
* 39 percent of participants checked out their credit reports because they were inquisitive,
* 31 % were ready to apply for a loan or credit card,
* 10 % had been denied credit,
* 6 % were worried about id info being stolen,
* 12 percent had other sorts of reasons, and
* 1 % did not know why they'd seen their reviews. Maybe it was late at night after the bar. Who knows?
We also asked people who had seen their reports whether they understood the content. Almost all them-79 percent-felt that the data on their reports was very or somewhat straightforward.
18 percent felt their reviews were somewhat or very difficult to understand, and 3 % did not know.
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