No matter age, gender or credit score, 80 percent of voters agree that healthcare and Social Security are the most important issues in this year’s election, according to new research released by Credit Karma.¹ Beyond healthcare and Social Security, priorities vary by credit score. Those with lower credit scores were more likely to rate economic issues like unemployment, cost of higher education and wealth inequality as very important or extremely important. Respondents with higher credit scores were more likely to rank foreign policy issues as very important or extremely important. Drawing upon a survey of over 1,000 of its more than 50 million members, Credit Karma compiled data to pinpoint the most important political issues and determine if those issues varied by credit score. Top-of-mind issues, including healthcare, unemployment and the cost of higher education, are all rooted in the economy, and how a voter feels about those issues may depend on their approach to personal finance. Based on its research, Credit Karma found that an individual’s credit score might impact what issues matter to them. Additional highlights include:
- Members with lower credit scores (under 640) listed healthcare, Social Security, taxes, unemployment and the cost of higher education as the issues most important to them.
- Younger respondents were less likely to rank immigration as very important or extremely important while unemployment and the cost of higher education were more likely to be rated very important or extremely important. However, older respondents were more likely to rate immigration as very important or extremely important.
- Members of all ages, with credit scores between 640 and 749, were most likely to identify with the Republican Party and support Donald Trump.
- Nearly three out of four respondents with excellent credit scores (above 750) were more likely to rank foreign policy and immigration as very important or extremely important, focusing less on the cost of higher education or unemployment.
- Credit score aside, healthcare and Social Security are two of the most important issues among all respondents. Respondents also prioritized issues such as government surveillance, gun control and the decriminalization of drug use. In particular, government surveillance was consistently ranked very important or extremely important.
- Many have not decided which presidential candidate they support. Members with a credit score under 640 were the most likely to be undecided, leaving a lot of opportunity for party frontrunners to sway their vote. Meanwhile, the strongest support for Donald Trump was among respondents with average credit scores (under 750, but above 640).
“The Credit Karma 2016 election survey showcases the potential connection between a credit score and a person’s sociopolitical outlook,” said Bethy Hardeman, chief consumer advocate at Credit Karma. “As we find ourselves in the midst of one of the most contentious presidential races to date, voters want to be heard. These findings are a guide for the remaining candidates on what voters want and how these candidates can win the support of voters.”For more on the Credit Karma 2016 election survey, visit https://blog.creditkarma.com/.¹ Credit score data is based on VantageScore 3.0 credit scores provided by TransUnion pulled by Credit Karma members in March 2016.
Credit Karma 2016 Election Survey Methodology
Between March 28-April 11, 2016, Credit Karma surveyed 1,018 visitors to the www.CreditKarma.com site asking them to rate 14 issues based on level of importance, their preferred candidate and their party affiliation. Issues were ranked on a five-point scale ranging from “not at all important” to “extremely important.” By calculating the percentage of responses in the two highest points on the scale (“very important” and “extremely important”), we identified the respondents in each credit and gender category who saw the issue as a priority. By targeting age groups to present the survey, we were able to ensure that results reflect U.S. demographic makeup by age according to the most recent Census reports. All data was aggregated and anonymized. Research was conducted using the Qualtrics Insights platform. Aggregate level results have a maximum 3.07% margin of error at a 95% confidence level.
About Credit Karma
Credit Karma’s goal is to save Americans time and money. Through analysis of more than 50 million members’ finances, Credit Karma researches and recommends credit cards, loans and insurance based on each individual’s specific credit profile, drastically simplifying some of the most confusing and tedious yet important tasks in personal finance.The company started by providing free credit scores to recreate the financial industry around people instead of banks. It continues to expand its completely free offerings including its Credit Score Simulator, credit monitoring and friendly, personalized information to help each person understand and make the most of their individual situation.To create a free account, visit www.CreditKarma.com or download the mobile app from the Google Play™ or Apple® App Store℠.