More consumers have an understanding of their credit score andhow those scores work, but they are still in the minority accordingto a new survey.
Commissioned jointly by the Consumer Federation of America andProvidian Financial, the survey found that 31 percent of consumershad obtained their credit scores in the past year, up from 24percent the previous year. The survey, conducted in early August bythe Opinion Research Corporation, was its second annual survey onconsumers understanding of credit scores. The first survey wasconducted in July 2004.
"In the past year, consumer understanding of these scores hasimproved, in part because many consumers have obtained theirscores," said Stephen Brobeck, executive director of the CFA."Unfortunately, most consumers still do not know the basic factsabout credit scores and their financial significance."
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