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Wallethub Suruvey-COVID-19 and Credit Cards

Wallethub Suruvey-COVID-19 and Credit Cards

87 Million Americans Are Worried About Their Credit Scores Due to the Coronavirus


News Release - May 6, 2020

UNDDATED - About 87 million Americans are worried about their credit scores due to the COVID-19 pandemic, according to WalletHub’s nationally representative Coronavirus and Credit Score Survey, released today along with tips to protect your credit score during the crisis. Below are additional highlights of the survey, along with a WalletHub Q&A.  

Key Stats

  • Many Americans fear credit score damage: 87 million Americans are worried about their credit scores due to the coronavirus. Some of the most worried groups include middle-income people, the 30-44 age bracket and people with fair credit.
     
  • Americans want missed payment forgiveness: 86% of Americans agree that credit scores should ignore any missed payments during the coronavirus pandemic.
     
  • Housing payments take precedence: 58 million Americans are most worried about paying their mortgage or rent during the coronavirus pandemic, followed by 46 million most worried about paying their credit card bill.
     
  • Women anticipate more debt: Women are 21% more likely than men to expect to get into more debt during the coronavirus pandemic.
     
  • Financial priorities vary by age: Millennials' top financial priority right now is paying bills, while Gen Xers' is preserving cash.

 
The complete survey results can be found at https://wallethub.com/free-credit-score/#survey.
 



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