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A simple routine appears to improve both people's credit scores and their sense of self-worth, a new survey finds.

A simple routine appears to improve both people’s credit scores and their sense of self-worth, according to a new survey commissioned by Discover.

Seventy-three percent of people who check their credit scores at least seven times annually say they are more likely to engage in positive credit behavior, such as:

  • Paying bills on time.
  • Paying down loans.
  • Maintaining low balances on credit cards.

By contrast, just 44 percent of borrowers who check their score once a year reported that such monitoring caused them to behave more responsibly with their credit.

And it appears that the more often you check the score, the better. Among borrowers who check their score four to six times annually, 72 percent reported an improvement in the previous 12 months. That number drops to 38 percent for those who check their score just once.

The study also found that millennials have a stronger emotional stake in their credit scores than borrowers in other generations.

Forty-six percent of millennials say their credit standing affects their sense of self-worth. That compares with 43 percent of Generation X members and just 30 percent of baby boomers.

In addition, 64 percent of millennials say a good credit score gives them an enhanced sense of freedom. Just 56 percent of Generation X members and 40 percent of baby boomers feel the same way.

Millennials also are significantly more likely to keep a close eye on their credit score, with 40 percent having checked their score at least four times within the past year.

That compares with 30 percent of Generation X members and 25 percent of baby boomers who reported the same frequency of checking their scores.

For more tips, check out “7 Fast Ways to Raise Your Credit Score.” And if you are trying to repair your credit, find help in our Solutions Center.

How often do you check your credit score? Let us know by commenting below or on our Facebook page.

Stacy Johnson

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