Women need better credit awareness, research shows

Women and credit
Women and credit

A new study released on June 24 highlighted some troubling facts about the financial awareness and stability of today's American women. The research, conducted by Harris Interactive for the Lending Club, found that only 65% of women knew their credit score vs. 74% of men. What's more, only 72% knew the interest rates on their credit cards, compared to 84% of men.

"Even with reform in Washington, it's not enough," says Jennifer Openshaw, chief consumer adviser to Lending Club. "People need to take ownership of their money. Traditionally, men have handled the larger finances so women haven't gained that experience," Openshaw told Walletpop in a phone interview. As a result, Openshaw says, they're now vulnerable in the event of death or divorce.