Survey Says Many Misunderstand Credit Scores

Fair Isaac and the Consumer Federation of America have announced the results of a new survey that shows that almost half of American consumers do not understand key facts about credit scores.

To provide consumers with basic information about credit scores, CFA and Fair Isaac have prepared a new free brochure that is being distributed by the Federal Citizen Information Center (FCIC).

"This credit score brochure contains the most important information about the score most businesses use -- the FICO credit score -- including what factors influence its rise and fall, and how consumers can get their own scores," said Cheri St. John, vice president of Global Scoring and Consumer Solutions for Fair Isaac.

The brochure is available for downloading at both FICO's and CFA's websites.