Most U.S. adults who own credit cards show “a lack of knowledge of credit fundamentals,” leading to habits that could negatively affect credit scores, according to a new survey by Credit One Bank.
The survey, conducted in partnership with YouGov, found that 72% of respondents were unaware that a missed payment can stay on their credit report for up to seven years. Sixty-five percent were unaware that the maximum amount of available credit they should use at any given time is 30%.
At the same time, 70% of respondents were unaware that they should keep their oldest credit card accounts open and use them at least once every few months. Forty-eight were unaware that creditors may close accounts due to inactivity.
