– Research shows that almost half of UK consumers want more help from their bank to manage their credit profile.
– One in five Britons plan to take more steps to manage their credit profile in the future.
– One in four worried about availability of credit
New research commissioned by Affinion International reveals a concerning picture of Britons’ understanding of credit management. The leading global provider of customer loyalty and engagement products discovered that only 20 per cent of the British public know their credit score, half admitted not knowing what to do if there was an error on their credit report and almost 80% don’t know the length of time that personal information is held on their credit profile.
Alongside the low level of awareness about managing their credit profile, one in four Britons – rising to 40% of 25-34 year olds – are concerned about being able to access credit, despite the economy’s recovery over recent years. The study, compiled in partnership with research specialist Conlumino, found that while a large majority of Britons (88%) know what a credit profile is, consumers lack understanding on how best place at buy propecia online to act on the information to improve their credit status and would greatly value more help and assistance from their bank. This lack of consumer knowledge means usage is infrequent with only 25% of people having looked at their credit report in the last year.
The research reveals there is a considerable appetite from consumers to know more about managing their credit profile. Despite 68% of people surveyed not currently taking any measures to manage their credit profile, one in five intend to do more in the future. Almost half of more than 2,000 people surveyed said it would be helpful to know the steps they can take to manage and improve their credit rating with 46% thinking their bank should do more to help, rising to 55% amongst 25-44 year olds.