WASHINGTON, D.C. – Only 5 percent of respondents to a financial literacy survey said they needed help understanding their credit report, yet a majority of adults have neither ordered their credit report or score in the last 12 months, the National Foundation of Credit Counseling (NFCC) reported today.

Improving their credit score is where most consumers said they need help, with 56 percent of respondents selecting “improving my credit score” as the personal finance area in which they needed the most help.

““In spite of it being free and critical to a person’s financial well-being, Americans remain resistant to ordering their report,” said Gail Cunningham, spokesperson for the NFCC. “What consumers continually fail to understand is that the credit score is based on information contained in the credit report.”

Results of the poll also revealed that 23 percent of respondents admitted to needed help controlling their spending. However, only 11 percent of participants said that saving money was their biggest concern.

Additionally, only 5 percent of those polled indicated they needed assistance planning for retirement.  This result could suggest that consumers feel adequately prepared to make sound decisions related to retirement. However, retirement planning often takes a backseat to other seemingly more pressing financial concerns, putting many into a position of having to play catch-up as they approach retirement age.

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