(BPT) - Do you ever feel like you don't really understand as much as you should about credit ratings and credit in general? If so, you're not alone. A new survey* conducted by Credit One Bank, in partnership with YouGov, discovered a startling truth: Many U.S. adults with credit cards have a surprising gap in their understanding of the basics of credit.
For example, nearly three in four survey respondents (72%) were unaware that a single missed credit card payment can stay on their credit report for up to seven years. In addition, nearly half of respondents (48%) were unaware that creditors may close accounts due to inactivity, which can also reduce the length of their credit history.
These and other survey findings highlight the need for better financial education from a credible source. The results are also a timely reminder of how crucial it is for everyone to understand credit basics - because credit affects everything from the ability to get a good interest rate on credit cards and auto loans to being able to access a home mortgage and more.
"Many seemingly small actions can wreck your credit score without you realizing it," said Amber Greenwalt, senior vice president of Brand and Advertising at Credit One Bank. "But the good news is, incremental changes can also have a big impact on improving credit health, and credit building doesn't have to be daunting."
Knowledge that can help you improve your credit
Even if you have had financial setbacks in the past, you can repair and improve your credit if you follow the tips featured in Credit One Bank's new campaign, "The Credit Wreckers." These characters help illustrate, in an informative and playful way, some of the common missteps people make that are most likely to negatively impact their credit:
- Max Out has eyes that are bigger than his wallet. When he sees something he wants, he buys it, and his credit score pays the price. Max Out doesn't know that he should only use 30% or less of his total available credit at any given time - because using his full credit line can lower his score. 4 Habits for Good Credit | Credit One Bank.
- Miss Payment means well, but more often than not she misses her monthly credit card payments. What she doesn't know is that every missed payment can stay on her credit report for up to seven years. If only she would set up Autopay, she'd never miss a payment again. How Long Do Late Payments Stay on Your Credit Report? | Credit One Bank.
- Cancelina thinks that it's a good idea to cancel her unused credit cards once they're paid off. Like 70% of adults surveyed, she's unaware that she should keep her oldest credit card accounts open and use them at least once every few months. Should You Close a Credit Card Account | Credit One Bank.
To learn more about The Credit Wreckers and how you can develop better credit habits moving forward, visit CreditWreckers.com.
Credit One Bank is dedicated to equipping cardmembers with the knowledge to help them make well-informed financial decisions. The company provides credit education resources to help individuals understand and improve their credit health, from in-depth articles on over 20 topics to practical tips and insights available at CreditOneBank.com.
*Survey Methodology: All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,007 adults, of whom 1,469 have a credit card. Fieldwork was undertaken between 28 May - 2 June 2025. The survey was carried out online. The figures have been weighted and are representative of all U.S. adults (aged 18+).