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52 | Th e M Rep o RT o r i g i nat i o n s e r v i c i n g a na ly t i c s s e c o n da r y M a r k e t ANALYTICS The LaTesT survey reveals gaps in credit Health awareness A large percentage of Americans don't know their credit score, nor what can impact it. t hough 90 percent of Americans realize the importance of credit, 39 percent admit to not knowing their current credit score, according to a recently released survey by JPMorgan Chase. The Chase Slate Credit Survey revealed a number of insights about credit health awareness in the U.S. Most significantly, it shed light on what Americans consider to be "good" credit scores. According to the survey's find- ings, the majority of Americans who have checked their credit previously believe that a 719 is a good score to have. Out of those who have never checked their score, an ideal score is 668, 51 points lower than those more educated on the issue. In reality, even the higher of these two scores may not qualify a consumer for the best rate. The survey also revealed data on generational gaps. According to its results, just 4 percent of generation Xers said they've never checked their credit score, while 19 percent of millennials and 13 percent of baby boomers admitted to it. Boomers tend to have a higher score—an average of 726—with generation Xers and millennials coming in with 712 and 695, respectively. More than half of those surveyed were not aware that overdue bills could impact their credit score, and only 37 percent said they were confident that their current score could help them accomplish their personal goals. Sixty-six percent said they would like to improve their credit score over the next year. "Your credit score is much more than just a number—it's a key indicator of credit health that helps you assess where you stand and what's within reach," said Farnoosh Torabi, personal finance expert and Chase Slate financial education partner. "Checking your score, and checking it regularly, is a simple step you can take now to introduce more positive financial habits into your life. The higher your score, the more likely you are to be deemed eligible for a loan or receive better terms and interest rates." Only two out of every 10 Americans surveyed said they check their credit score because it's important to managing their finances, and out of those who had never check their score, 44 percent said they had no reason to and 27 percent said they didn't have the time or energy. "Having healthy credit could mean the difference between achieving major life goals, such as buying a home or starting a small business, and never realizing those dreams," said Pam Codispoti, president of the mass affluent business for Chase Card Services. "Yet too many Americans don't have access to information and tools that empower them to properly plan for the future and manage their credit health." To help consumers bet- ter manage their credit, Chase recently introduced the Slate Credit Card, which allows card- holders to access monthly FICO credit scores, as well as the reasoning behind those scores. "It's a comprehensive picture of their credit health, and one we believe will be valuable and empowering along their financial journeys," Codispoti said.