Many Hongkongers unaware of credit score and its effects on their financial health, university survey finds
But co-organiser of poll hopes it will educate people in finding out their score
A survey conducted by the University of Hong Kong and a peer-to-peer crowdfunding lender found that Hongkongers were mostly oblivious of their credit score. An overwhelming majority did not know their credit score and did not care to find out.
The survey, carried out by the university’s Public Opinion Programme and MoneySQ, found that 89 per cent of Hongkongers were unaware of their credit score.
While 85 per cent of interviewees said that knowing your credit score was important, 89 per cent of those who said they did not know their credit score had no intention of finding out, even after being told by the interviewer how to check their credit score.
A poor credit score can affect a person’s ability to receive a loan, mortgage or credit card.
“Once you know your credit score, you will work to improve it,” Steven Lee Kun-tai, founder of lender MoneySQ, said on why his company initiated the survey.