NEW YORK—A new survey reveals nearly half of its respondents believe carrying a balance on a credit card improves a person’s credit score.
However, the study from U.S. News & World Report, also found 52% know that it doesn't raise a cardholder’s score.
Other findings:
- 16% of respondents did not know their credit scores.
- More than 35% say their credit reports contain a breakdown of their credit score, but more than 56% were aware that their reports contained a list of their credit activities.
- A little over 40% correctly identified FICO as the score used most often by lenders.
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