The three major credit bureaus, Experian, Equifax and Trans Union, worked with the Fair, Isaac company to develop generic scoring models that allow each bureau to offer a score based solely on their credit report data on you. Because the scores are created differently by the credit bureaus and used differently by lenders, Fair, Isaac and the credit bureaus have said that knowing a score is of little use to the consumer, and may simply be confusing.

However, Fair, Isaac is currently negotiating with the bureaus to change contract agreements that could allow lenders to more freely disclose credit scores to consumers. The company said it is responding to increased public curiosity about the scores. Some lenders already have started revealing scores to potential borrowers if they ask. And as consumer awareness of credit scoring, and FICO scores in particular, grows, more and more lenders are willing to discuss it.

All lenders should, however, tell you the reasons provided for a low score if that score is a factor in delaying or denying your loan application. A list of "score reason codes" comes with each credit score report a lender receives. The codes explain the top reasons your score was not higher, such as too many inquiries or delinquency on accounts.