Here's Yet Another Thing Your Bad Credit Can Wreck

Mortgage and auto lenders aren't the only people who may modify their offers based on your credit score.

In her book "Get A Financial Life," Beth Kobliner writes that a not-so-hot credit score could mean you'll pay more for insurance, as well.

That's because insurers take credit into consideration when determining insurance premiums on your home and car.

The lower your credit score (FICO scores go up to 850, and a score under 650 starts to get dicey), the more of a risk you could be to them.

To add another layer of complication, according to Kobliner, insurers aren't using the same credit scores as everyone else.

"... the credit rating agency Fair Isaac Corp. has created special insurance scores to help insurance companies assess applicants," Kobliner writes. "These work a lot like general credit scores and take into account all the same factors your credit report does."

The credit system is known for its lack of clarity, and the fact that credit rating agencies calculate different scores for different uses means that your score is different depending on who's looking - so you never know exactly what number someone else will see.

Generally, though, the score you can see for free through a site like Credit.com, Credit Karma, or Credit Sesame is close enough to the others to give you an idea.