More consumers have an understanding of their credit score and how those scores work, but they are still in the minority according to a new survey.

Commissioned jointly by the Consumer Federation of America and Providian Financial, the survey found that 31 percent of consumers had obtained their credit scores in the past year, up from 24 percent the previous year. The survey, conducted in early August by the Opinion Research Corporation, was its second annual survey on consumers understanding of credit scores. The first survey was conducted in July 2004.

"In the past year, consumer understanding of these scores has improved, in part because many consumers have obtained their scores," said Stephen Brobeck, executive director of the CFA. "Unfortunately, most consumers still do not know the basic facts about credit scores and their financial significance."

While many consumers understood the basic principles of credit scores--for example, that making payments can help raise a score and that scores are used in decisions for loans and credit--other aspects of credit scoring remain unknown.

Only 27 percent of respondents knew that scores are a measure of risk rather than credit knowledge or amount, according to the survey, with less than half--47 percent--aware that they have more than one credit score. Less than one quarter of respondents, at 23 percent, could identify the three major credit bureaus. Additionally, Mr. Brobeck noted that more than 75 percent of respondents mistakenly believe they are entitled to receive their credit score once a year. "That right extends only to a credit report," he said.

Mr. Brobeck and J. Christopher Lewis, Providian's chief public policy officer, said lack of knowledge about credit scoring appears to be most prevalent among poorer consumers. The survey showed that nearly two-thirds of college graduates had obtained their credit scores, compared with only 27 percent of those without a college degree.

Additionally, he said, only 56 percent of the least-educated and 64 percent of the lowest-income consumers were aware that making a late payment could lower their credit scores. By comparison, the percentages for the most-educated and highest-income were 84 percent and 82 percent, respectively.

Mr. Lewis noted, however, that concerns that institutions could use scores to "red-line" certain groups are unfounded. Credit scores, he said, "are color blind. We are blind to the socio-demographic background of a credit applicant."