Credit Info, which allows people to check their credit histories, says that only 6% of Lithuanians checked their credit history over the last year.
Most Lithuanians do not pay enough attention to keeping a good credit record and the company said that if they did, they would on average pay one-sixth lower interest rate on bank loans.
Banks set interest rates for clients depending on their credit histories. Those with overdue payments – like failing to pay utility bills on time – have to pay higher rates.
Credit Info says that over half of all people who checked their credit histories had debts or overdue payments.
The only way for Lithuanian consumers to improve their credit worthiness was to pay all payments due over a number of years, according to the company.