The Credit Score You Don't Know About

You have watched your credit score closely to help raise it to a quality number. Excited, you go to apply for a mortgage only to find out that you don't qualify for the interest rate you believe your credit score should get you. Is it just a big mistake, or is there something else going on?

Most people are well aware that they have a credit score that helps to determine their credit rating. They also know this score can affect everything from the amount of interest they pay on their credit cards to what interest rate they qualify for when applying for a mortgage.

What most people don't realize, however, is that the credit bureaus also keep a second score on everyone: the bankruptcy risk score. Although this score has been in use for more than 20 years by the credit bureaus, you probably have never heard of it until now. ...