This is getting ridiculous - Credit Scores and car insurance

[Penner]

Your score is used to measure your creditworthiness—the likelihood that you’ll pay back a loan or credit-card debt. But you might not know that car insurers are also rifling through your credit files to do something completely different: to predict the odds that you’ll file a claim. And if they think that your credit isn’t up to their highest standard, they will charge you more, even if you have never had an accident, our price data show.

Cherry-picking about 30 of almost 130 elements in a credit report, each insurer creates a proprietary score that’s very different from the FICO score you might be familiar with, so that one can’t be used to guess the other reliably.

The increase in your premium can be significant. Our single drivers who had merely good scores paid $68 to $526 more per year, on average, than similar drivers with the best scores, depending on the state they called home.

And your credit score could have more of an impact on your premium price than any other factor. For our single drivers in Kansas, for instance, one moving violation would increase their premium by $122 per year, on average. But a score that was considered just good would boost it by $233, even if they had a flawless driving record. A poor credit score could add $1,301 to their premium, on average.

https://www.consumerreports.org/cro/car ... /index.htm

We need to burn it to the ground.

Here's my problem, where's the "opt-out"? Say I don't want to deal with this whole credit nonsense at all, I have to go to each credit bureau and have them freeze my credit, at a cost of $15 per one. We really should get a law passed that says a citizen can just opt out of these things, without a need to pay them $15 each.

This is how things work now. People are checking your credit score and there is really nothing you can do about it. They really don't talk to you, credit scores talk to banks, insurances, employers (if they are looking into your credit score to hire you), etc... The only way you want things to change is to have Congress pass a bill into law, but that is unlikely to happen.

[Speaker to Animals]

You can try to.opt out of corporate America and opt in to the alternative economy.

Corporate America is part of the AIDS that infects our nation anyway. Start looking for an exit. Lower your cost of living. Work odd jobs. Freelance. Start a small business. Rent some land an run a small organic farm. Start a food truck business.

Corporate America for thge most part.fucking sucks now.

[jediuser598]

You can try to.opt out of corporate America and opt in to the alternative economy.

Corporate America is part of the AIDS that infects our nation anyway. Start looking for an exit. Lower your cost of living. Work odd jobs. Freelance. Start a small business. Rent some land an run a small organic farm. Start a food truck business.

Corporate America for thge most part.fucking sucks now.

Can't disagree.

[jediuser598]

You can try to.opt out of corporate America and opt in to the alternative economy.

Corporate America is part of the AIDS that infects our nation anyway. Start looking for an exit. Lower your cost of living. Work odd jobs. Freelance. Start a small business. Rent some land an run a small organic farm. Start a food truck business.

Corporate America for thge most part.fucking sucks now.

Was getting quotes for car insurance and lady offered me renter's insurance. For 12 a month I'm like sure. She begins asking me questions, she asks me, "if we picked your house up tilted it to the side, and shook it, how much worth of stuff would fall out?" I looked around, told her about $500, she starts laughing and says, "surely it's more than that!" I tell her "that depends, am I wearing my boots, and do I have my books on me?"

Was talking to AAA about car insurance, woman there tells me my rates are high because I simply don't own enough stuff. If I had a mortgage, and more cars, my rate would be lower.

Ended up going with a company who didn't check my credit.

[jediuser598]

Your score is used to measure your creditworthiness—the likelihood that you’ll pay back a loan or credit-card debt. But you might not know that car insurers are also rifling through your credit files to do something completely different: to predict the odds that you’ll file a claim. And if they think that your credit isn’t up to their highest standard, they will charge you more, even if you have never had an accident, our price data show.

Cherry-picking about 30 of almost 130 elements in a credit report, each insurer creates a proprietary score that’s very different from the FICO score you might be familiar with, so that one can’t be used to guess the other reliably.

The increase in your premium can be significant. Our single drivers who had merely good scores paid $68 to $526 more per year, on average, than similar drivers with the best scores, depending on the state they called home.

And your credit score could have more of an impact on your premium price than any other factor. For our single drivers in Kansas, for instance, one moving violation would increase their premium by $122 per year, on average. But a score that was considered just good would boost it by $233, even if they had a flawless driving record. A poor credit score could add $1,301 to their premium, on average.

https://www.consumerreports.org/cro/car ... /index.htm

We need to burn it to the ground.

Here's my problem, where's the "opt-out"? Say I don't want to deal with this whole credit nonsense at all, I have to go to each credit bureau and have them freeze my credit, at a cost of $15 per one. We really should get a law passed that says a citizen can just opt out of these things, without a need to pay them $15 each.

This is how things work now. People are checking your credit score and there is really nothing you can do about it. They really don't talk to you, credit scores talk to banks, insurances, employers (if they are looking into your credit score to hire you), etc... The only way you want things to change is to have Congress pass a bill into law, but that is unlikely to happen.

Or move to Portland, lol.

[clubgop]

We need to burn it to the ground.

Here's my problem, where's the "opt-out"? Say I don't want to deal with this whole credit nonsense at all, I have to go to each credit bureau and have them freeze my credit, at a cost of $15 per one. We really should get a law passed that says a citizen can just opt out of these things, without a need to pay them $15 each

.

What's that gonna do? No credit history is as bad as having poor credit history. A lending company or insurance company is assuming risk why do you think limiting thier information will net anything positive?

[Okeefenokee]

This is what happens when lifetime government employees promise naive young people that they will confiscate all the banks and dole them out to the workers.

[Penner]

https://www.consumerreports.org/cro/car ... /index.htm

We need to burn it to the ground.

Here's my problem, where's the "opt-out"? Say I don't want to deal with this whole credit nonsense at all, I have to go to each credit bureau and have them freeze my credit, at a cost of $15 per one. We really should get a law passed that says a citizen can just opt out of these things, without a need to pay them $15 each.

This is how things work now. People are checking your credit score and there is really nothing you can do about it. They really don't talk to you, credit scores talk to banks, insurances, employers (if they are looking into your credit score to hire you), etc... The only way you want things to change is to have Congress pass a bill into law, but that is unlikely to happen.

Or move to Portland, lol.

What does Portland have to do with this? The map that is in your article doesn't have any info on California and Mass. Portland is not in those states.

[jediuser598]

This is how things work now. People are checking your credit score and there is really nothing you can do about it. They really don't talk to you, credit scores talk to banks, insurances, employers (if they are looking into your credit score to hire you), etc... The only way you want things to change is to have Congress pass a bill into law, but that is unlikely to happen.

Or move to Portland, lol.

What does Portland have to do with this? The map that is in your article doesn't have any info on California and Mass. Portland is not in those states.

I take it you've never been to Portland?

They're crazy down there.

[Okeefenokee]

Not crazy enough to pump their own gas.