63% of consumers check their credit scores monthly


The higher a consumer’s income, the higher their credit score and the less often they check it, according to “The New Reality Check,” a collaboration between PYMNTS and LendingClub based on a survey of 2,326 U.S. consumers.

Get the report: The new reality check

Of those included in the survey, the average US consumer credit score in March 2022 was 697.

When ranked by income, there is an 86-point gap between the credit scores of high-income consumers and low-income consumers, according to the report.

The average credit score for high-income consumers — those earning more than $100,000 — was 734.

Among consumers earning between $50,000 and $100,000, the average credit score was 703.

Among low-income consumers — those earning less than $50,000 — the average credit score was 648.

Figure 5

Sixty-three percent of all consumers said they checked their credit score in the month to March 2022, 11% said they checked it earlier in the day they were surveyed, 25% said the having checked not today but earlier. this week and 26% saying they checked it not this week but earlier this month.

Among different income groups, there is a seven percentage point difference in the share of consumers who check their credit scores monthly

Those with below-average credit scores checked their report more often — and most often among the three income groups identified in the report — 67% say they checked it in the month before the survey .

Among consumers with an average credit score, 63% had checked it, the same percentage as the overall sample.

Those with above-average credit scores checked it the least often, with 60% saying they checked it in the month to March 2022.

Figure 6



On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveys 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.


Comments are closed.