Personal Credit Index Surges 19 Points - Plus Younger Consumers at Greatest
Risk of Identity Theft
COSTA MESA, Calif., Aug. 3 /PRNewswire/ -- Experian(R) and The Gallup
Organization today announced that the latest Experian-Gallup Personal Credit
Index(SM) finds that 18 percent of consumers report being victims of identity
theft, with younger adults at greatest risk. Twenty-five percent of consumers
under age 30 report having their financial information stolen, compared with
about 18 percent in the middle-aged group and just 11 percent among consumers
65 and older. More results for the Personal Credit Index can be found at
http://www.PersonalCreditIndex.com.
"The public's perception about how many consumers have suffered identity
theft appears fairly accurate, according to the poll, with the median
projected percentage at 15 percent -- not very far off from the 18 percent
measured in the poll," said Ed Ojdana, group president of Experian
Interactive. "This makes it all the more concerning that so few consumers are
being proactive in protecting their information."
The poll also finds some significant regional differences. Only 12
percent and 15 percent, respectively, of consumers in the Midwest and South
report being victimized, compared with 20 percent and 26 percent,
respectively, of consumers in the East and West.
About two-thirds of consumers who have not experienced identity theft say
it is unlikely to happen to them. Only 6 percent have purchased some form of
identity theft protection, and just 4 percent have purchased identity theft
insurance and checked their credit report to see if they are victims of
identity theft.
Though few consumers have taken preventive action to avoid becoming a
victim of identity theft, 62 percent are concerned that their financial
information could be stolen online. More than half also are concerned that
their personal information could be stolen from the mail (55 percent) or at a
retail store (53 percent), while just under half (47 percent) fear becoming a
victim at a restaurant. Smaller numbers fear identity theft from their
garbage (40 percent), their home (33 percent), or their work or school (25
percent).
The poll also showed a surge in consumer optimism about personal credit,
with the Personal Credit Index jumping from 79 last month to 98 this month.
This is the highest score since the launch of the Personal Credit Index in
March, when it was established at a benchmark score of 100.
"The overall increase is driven primarily by more positive consumer
feelings about being able to make their monthly payments and maintain a good
credit rating -- both now and in the future," said Dennis Jacobe, chief
economist for The Gallup Organization. "It's encouraging to see this increase
in the Personal Credit Index."
More information about the Experian-Gallup Personal Credit Index can be
found on the official Web site at http://www.PersonalCreditIndex.com.
About the Experian-Gallup Personal Credit Index
The Experian-Gallup Personal Credit Index is based on a monthly nationwide
survey of households and measures four key areas related to credit: level of
debt, monthly payment burden, credit rating and debt extension capability.
The sampling was conducted July 14-20, 2005, and included 1,014 adults, 18 and
over, randomly selected from across the country. The sampling error is plus or
minus three percentage points.
About The Gallup Organization
The Gallup Organization has studied human nature and behavior for more
than 70 years. Gallup employs many of the world's leading scientists in
management, economics, psychology and sociology. Gallup performance
management systems help organizations increase customer engagement and
maximize employee productivity through measurement tools, course work and
strategic advisory services. Gallup's 2,000 professionals deliver services at
client organizations, through the Web, at Gallup University's campuses and in
40 offices around the world.
About Experian
Experian is the global leader in providing value-added information
solutions to organizations and consumers. It has an unrivaled understanding
of individuals, markets and economies around the world. Experian provides
information, analytics, decision-making solutions and processing services. It
assists organizations in understanding their markets and customers and helps
them find, develop and manage profitable customer relationships to make their
businesses more profitable. Experian promotes greater financial health among
consumers by enabling them to understand, manage and protect their personal
information and helping them control financial aspects of key life events.
Experian works with more than 50,000 clients across diverse industries,
including financial services, telecommunications, health care, insurance,
retail and catalog, automotive, manufacturing, leisure, utilities, e-commerce,
property and government. A subsidiary of GUS plc with headquarters in
Nottingham, UK, and Costa Mesa, Calif., Experian's 12,000 people in 28
countries support clients in more than 60 countries. Annual sales exceed
$2.5 billion.
For more information, visit the company's Web site at http://www.experian.com.
The word "Experian" is a registered trademark in the United States, the EU
and other countries and is owned by Experian Ltd. and/or its associated
companies.
SOURCE Experian
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Related links:
http://www.experian.com
CONTACT:
Heather Greer of Experian, +1-714-830-7756,
heather.greer@experian.com
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