Credit Score Quiz Results

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WASHINGTON-Below are some of the the findings from the Consumer Federation of America and VantageScore credit score quiz:

• Those aged 34-45 (67% correct) and those with at least $100,000 annual incomes (66% correct) scored highest. Those at least 65 years of age (53%) and those with incomes below $25,000 (58%) scored lowest.

• A key factor explaining score differences is whether one has obtained one's credit scores. Consumers who had obtained their scores scored higher (64%) than those who never had (54%).

Among the findings on what consumers do not know:

• A credit score mainly represents the risk of not repaying a loan (48% correct).

• Age (33%) and marital status (40%) are not factors used to calculate a credit score.

• On a $20,000, 60-month auto loan, borrowers would usually pay $5,000 more in interest with a bad score than with a good one (30%).

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