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A recently released TransUnion survey shed light on consumer confusion when it comes to credit scores. In fact, nearly half of all consumers falsely identified rental (45 percent) and cell phone (47 percent) payments as those that directly affect their score; however, these are not regularly reported to credit bureaus.
While consumers who frequently review their credit report incorrectly identify some aspects of it, consumers who rarely or never review their credit report have an even higher level of confusion. Among survey respondents who reported checking their report in the last 30 days, half mistakenly believe their full employment history (55 percent) and income level (41 percent) are included in their reports.
Surprisingly, even consumers who characterize their credit as "excellent" or "good" had troubl...
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