New Report Details the Modern Credit Challenge for Consumers

Consumers review credit scores with an expert

IDIQ®, a financial intelligence company that offers CreditBuilderIQ, has released new data that details consumer credit concerns voiced by mortgage, real estate, and lending professionals as well as consumers.

The report, titled “The Modern Credit Challenge: Mortgage & Real Estate Professional & Consumer Research,” showcases credit health needs from a partner and consumer perspective and offers a solution – CreditBuilderIQ.

The research included surveys of more than 100 mortgage and real estate professionals, more than 200 prospective consumers, and a study of proprietary data of more than 20,000 IDIQ consumers with credit scores less than 700.

Let’s explore the key findings:

The Top Five Consumer Concerns Are:

  1. Not knowing how to strengthen their credit
  2. Catching up on late payments
  3. Having inaccuracies on their credit report
  4. Unknown inquiries
  5. Lack of access to preferential financing

Download The Modern Credit Challenge Today!

Consumer highlights include:

  • 82% of consumers want to learn more about how to improve their credit score.
  • 76% have at least two derogatory marks on their credit report
  • 74% have non-optimal credit utilization
  • 67% have a debt collection on their report
  • 59% are planning to purchase a car or home in the next year.

Mortgage and real estate professional highlights include:

  • 75% want to refer clients to DIY credit-building solutions
  • 70% want the ability to track clients’ credit
  • 50% wish current credit-building tools offered a consumer score plan and goals to improve scores

Get the Full Report

Download The Modern Credit Challenge today to get all the information.

About CreditBuilderIQ

IDIQ recently launched CreditBuilderIQ to help consumers and mortgage and real estate partner clients build credit. CreditBuilderIQ is a game-changing platform that gives individuals the tools they need to establish, manage, and reach their credit goals.

The Modern Credit Challenge – Web Form Download Request