QuickSurvey Results: Having Credit Troubles?by Tim Manni
Readers of our weekly Market Trends newsletter know we usually include a topical mini-survey. The most recent one asked: Have you had trouble getting approved for credit lately?
The results so far: Just over half (53%) said No, while nearly 23% said Yes. We also asked whether you’d had a credit line reduced, and about 14% said you had. Ten percent said no, but believe that it could happen.
Of the respondents who have had trouble getting credit approval, one-third mentioned credit cards and another third mentioned a home equity credit line. Nearly 36% said they’d been denied for some other kind of credit. (Numbers don’t total 100% because more than one choice was available.)
The last question we asked was: Have you been denied credit recently? — as opposed to “having trouble getting approved.” A whopping 72% of our readers said No. Evidently Market Trends readers are a cut above!
A new survey will be added to Market Trends this week; if you subscribe to our email delivery, you’ll see it in your email in a short while, otherwise you can read it on Monday morning. (So why not subscribe? It’s free!) But you can still participate in the survey discussed here via this link — and you can leave feedback on the survey, and/or our newsletter, as well.