I called Geico this year only to acquire a quote for insurance. I noticed recently that they put an inquiry on my credit report on the same date that I called. I did have Geico as my insurance agent several years prior to my call, but dropped them for another company who's rates were better. I only called Geico to see if they had lowered their rates in recent years. Do they have the right to access my credit report? I'm sure when I applied for insurance with them several years ago that I authorized them at that time, but does this authorization extend for your entire lifetime? I told the agent in very definite terms that I only wanted a quote. Anyone have this same experience?
RE: Called Geico For A Quote a DISPUTE THE INQUIRY!!! TELL THE CREDIT REPORTING AGENCY THAT YOU DID NOT APPLY FOR CREDIT WITH GEICO!!!
RE: Called Geico For A Quote a DID YOU TELL THE CREDIT REPORTING AGENCY THAT YOU DID NOT APPLY FOR CREDIT WITH GEICO???
RE: Called Geico For A Quote a You are applying for credit actually. They are letting you pay for a 6 or 12 months policy by the month, they could get stuck with a balance if you do not pay. Progressive, with all my poor credit (really bad) checked and approved me for 11 month payment (downpayment + 10) which is their BEST payment plan, so don't worry, but yes, they check your credit if you are trying to do a payment plan (mine is $3700/year go figure).
RE: Called Geico For A Quote a SORRY, I HAVE FARMERS INSURANCE GROUP...PAYMENT FOR 6 MONTHS DUE FEB 22...COVERAGE STARTS FEB 22, SO I HAVE NO CREDIT ARANGEMENT. SO THEY ARE NOT A CREDITOR.
RE: Called Geico For A Quote a NEVER, EVER give your social security number to an insurance company FOR ANY REASON. They do not need it.
Never give out SSN..... That's why when I was searching for auto insurance, I just used all bunk information (ssn, bday, address, phone) but I used all the info regarding my car, driving record, etc. I got tired of getting a quote and then 3 days later in the mail, getting mailers from every insurance company known to man! All over an insurance quote! Like J. Edgar stated, never give out that info to them. They don't need it.
they DO NOT need your authoriz if you call an insurer to ask for an insurance quote, the FCRA allows them to pull a credit report. Period. In my experience, when I moved to CA 4 years ago, Geico is not writing renters' insurance policies, Allstate pulled my credit report, and State Farm did not. This is one of the reasons that the FICO scoring model is so highly criticized. The model, which lowers your FICO score for more than two credit inquires in a six month period, docks you for a potential landlord checking your credit, your application for insurance, and even a job.
People with huge debts are more likely to purchase insurance (on a vehicle, personal property via renter's insurance) and destroy it for the insurance money than folks with no debt nor history of delinquencies.
Excellent Point I refused to give my SS number to the power company, becuse I already had a good record with them. The rep whined that I was really applying for credit, so that's why they wanted it. However, she never actually said I had to give it to them. Finally she said I could give it to them tomorrow, while they went ahead and turned on my power at the new address. This was an obvious maneuver to save face, and I never called them back. My power is still on. End of story. Never let anyone intimidate you into giving them your SS number. It's illegal to require its use for credit or insurance. As a practical matter, you may not get that credit card or that insurance policy without it, but you should never get in the habit of giving it out without a fuss. It's none of their inhuman, bureaucratic, totalitarian business.
"it is illegal..."?? No, it is perfectly legal, and in fact the standard practice to ask for your ss# to give you credit, insurance, or a job. If you don't provide your SS#, most creditors or insurers will simply decline to do business with you, which is also legal.
FICO and insurance Some insurance companies are starting to deny people on the basis of their FICO scores. More on this can be found on the Bayhouse board at: http://www.bayhouse.com/discus/messages/4/794.html?973230384
RE: People with huge debts They also do it for renters insurance .... had a little disagreement with AmFam about that, too
RE: State Farm doesn't check c I ended up going with a company called General Casualty, which I think is based here in Wisconsin. Great customer service, and the rates are comparable to anyone else.
"standard practice to ask Pat, Surely your fine legal mind understands the distinction between "to ask" and "to require." Police, for example, can ask to enter a residence and legally enter when permission is given. The same residence would be illegal for them to enter without permission, unless they first obtained a warrant. As for "standard practice," that is not a legal argument. It is common for some corporations to violate the law, if their only concern is avoiding penalties. Many violations of law go unpunished. However, the SS number is for tax and employment purposes only. There may not be penalties for requiring its use for other purposes, but to require such use is still contrary to both the law and the intent of Congress.
RE: FICO and insurance Don't believe everything you read at Outhouse.com I mean Bayhouse.com. The views there are singular.
