Consumers’ awareness of their credit standing has improved over the past years, in part thanks to all the free credit score tracking services that fintechs, as well as financial institutions, have incorporated into their apps.
But while many users are aware of their credit standing, few check their credit scores on regular basis, according to a study by Discover Financial Services released today. Checking credit scores regularly can significantly improve credit behavior, the study suggests; however, almost a third of those surveyed indicated that they have not checked their scores in the past year. About 20% said they checked their score once. From the report:
