TransUnion Survey Reveals Greater Need for Consumer Credit Management
TORONTO--(BUSINESS WIRE)--April 21, 2005--TransUnion Canada, a leading
authority on consumer credit, released the results of a survey today
conducted by Roper Public Affairs on the frequency with which Canadians
check their credit. The results are sobering. Over half (55 percent) of
Canadians say they have not checked their credit in the past year.
TransUnion recommends that consumers review their credit at least once a
year or three months before a major purchase to ensure good standing with
potential lenders. Checking credit frequently is also a vital first line of
defense in combating identity theft. Despite this, only 17 percent of survey
respondents reported checking their credit profile two or more times over
the past year.
"Reviewing your credit profile is a fast and easy way to ensure that your
finances are in order, your credit is safe from identity theft and that you
are ready for your next credit or loan application," said Ken Porter,
president,
TransUnion Canada. "That is why it is troubling to see so many people
missing this opportunity -- and why we're so committed to changing the
current dynamic."
The TransUnion/Roper survey also found:
Most Canadians Never Check Their Credit Score: Only 36 percent of Canadians
report ever checking their credit score.
Younger People More Likely to Check Credit: Canadians fifty and over (29
percent) are significantly less likely to have checked their credit score
this past year than Canadians aged 18 to 49 (41 percent).
Children Make a Difference: 42 percent of households with children have
checked their credit score over the past year, compared to 33 percent of
households without children.
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