Consumer voices on credit reports and scores
To better understand consumers’ perspectives on their credit reports and scores, we conducted focus groups with consumers from diverse backgrounds across the country. Through this research, we examined issues such as whether consumers were checking their credit scores and reports, how they were doing it, and what motivated them to check it.
Key takeaways from the research include:
- Consumers who had seen their reports or scores accessed them from a variety of channels
- Some consumers reported being confused and frustrated about how to check credit reports and scores, what information these include, and how to improve them.
- Consumers may lack information to take action to improve their credit histories
- Consumers who are more engaged in the financial system check their credit reports regularly
These focus group results suggest areas of consumer confusion that could be addressed by targeted financial education approaches.