Re: Re: Inquiries from Insurance Companies **breeze** I GOT INSURANCE "ADVERSE ACTION" BECAUSE OF USING CREDIT TO MY BENEFIT!!! NO "BADDIES" 25+ YEARS NO ACCIDENTS NO CLAIMS ONE TICKET 7+ MPH (1983) DO YOU SEE ANY "CAUSE AND EFFECT"
Re: Re: Inquiries from Insurance Companies No George, I do not believe there is any cause and effect. I do not agree with using credit for insurance. I think credit has nothing to do with your auto insurance. I have said this many many times: I DO NOT AGREE WITH USING CREDIT FOR INSURANCE. I don't understand why you address me as if I were advocating it. I do not!!
Re: Re: Re: Inquiries from Insurance Companies I NEVER SAID YOU AGREED WITH USING CREDIT REPORTS FOR INSURANCE... I just can't get FARMERS to agree to that!!! I HAVE A NO CANCEL CLAUSE (they can't cancel)...BUT THEY CAN DO THAT ADVERSE ACTION GARBAGE TO ME!!! If I get any more "HARDS" it will be for CREDIT...NOT INSURANCE!!!
Re: Re: Re: Inquiries from Insurance Companies FICO scores are crap. They make absoultely no sense whatsoever. My scores have tanked nearly 100 points and I can't figure out why. If anyone wants to start a lawsuit against credit scoring, count me in. WeatherNLU ==================== Click here for a real eye opener about the scoring rip-off. http://members.aol.com/victcrdrpt/Score.html THE END ** *** ** LB 59
Re: Re: Re: Re: Inquiries from Insurance Companies LB, I had visited that site once before, I think you might have given it to me, excellent information on there. The govt. employee who made $123K per and got turned down for a Toys R Us card is priceless.
Re: Re: Re: Inquiries from Insurance Companies Mr. Lindsey has been a vocal critic of credit scoring systems for some time. The Associated Press quotes him as saying "If human beings are taken out of the loop, some rationality and common sense is lost in the process." BOY ARE HUMAN BEINGS TAKEN OUT OF THE LOOP!!! When you get DENIED a second time for a card----->DID ANYBODY LOOK AT MY CREDIT REPORT WITH THEIR EYES??? NO!!! WE SENT IT THROUGH THE COMPUTER AGAIN...WITH ANOTHER "HARD"<----LOGICAL!!!!
I thought I read somewhere on the MyFico web page that Insurance companies don't, or at least are not suppose to use your credit report and credit score when determining insurance, that there was a separate "insurance score" or that there are another set of "bureau's" that collect information and provide an insurance score, or something like that. Instead of a CRA or Credit Bureau, that there are "Insurance Bureau's" or something ... will go investigate ... FedUp2003
Ok, here it is: http://www.myfico.com/myFICO/FAQ/FICOScores.asp#Q30 Do insurance companies look at FICO credit risk scores? No. FICO credit risk scores predict credit risk - the risk that you will be late on future payments for loans, credit cards or other credit products - and that doesn't interest insurers. Instead, insurers use a different product commonly called an insurance score. Insurance scores help insurers predict the likelihood and severity of a person's future insurance claims and losses. Since insurance scores are calculated from information in your credit report, they are sometimes mistakenly called credit scores, which can be confusing. Okay, so I guess they do pull from your CR at the CRA's, but supposedly look at different info to determine an "insurance score." So, they can get away with saying they don't consider your credit rating and that your credit has nothing to do with risk and potential for fraud, ... but we all know the truth ... if they are looking at your Credit Report, you know this infomation is weighing in the back of their minds and is a factor in whether or not they give you insurance or what your rate is. Hell, now that I think about it, I called Farmers myself a couple of months back and after asking all the standard questions to get me a rate quote, he said to come in next week and sign the papers and then added, "oh, by the way, how is your credit. We require you to score at least a 600 before Farmers will grant you an insurance policy." Of course I never kept that appt. cause I refused to do business with an Insurance company that was going to pull a Hard and/or require a certain credit score. How can he determine what kind of insurance risk I am by my credit score? My scores are low because of other reasons, bullshit reasons, not because I'm not responsible or am a risk. FedUp2003
I HAVE ADVERSE ACTION DUE TO TRANS UNION!!! I HAVE 25+ YEARS OF PERFECT CREDIT HISTORY!!! NO ACCIDENTS NO CLAIMS ONE TICKET 7+ MPH (1983) EXCESSIVE CREDIT LINES IS THE REASON THEY GET TO CHARGE ME MORE FOR MY INSURANCE!!! NOT BECAUSE I OWE TOO MUCH...BUT BECAUSE I "COULD" OWE TOO MUCH!!!
I read on this thread that insurance companies can pull hards anytime they want. Can they do it when you call for a simple insurance quote, ie., you are not a customer of theirs yet ? I called Travelers for a quote some months back and they pulled a hard on my TU.
Re: Re: Inquiries from Insurance Companies They do it all the time. """""""""""""""""""""""""""""""""""""""""""""""""" What Is Validation? http://consumers.creditnet.com/stra....php?s=&threadid=42188&highlight= validation Validation must reads Per Humblemarc http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=343640#post343640 Validation & Estoppel letters http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=345391#post345391 COMPOUND INTEREST ~ Rule Of "72" And Your Score http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=335821#post335821 FixYourOwnCredit! http://consumers.creditnet.com/stra...848&highlight=fix+AND+your+AND+own+AND+credit """"""""""""""""""""""""""""""""""""""""""" '''''''''' `````````` '''''''''' It's not what you spend it's how you spend it. ----------------------------- BACKGROUND: 1*Asset Management 19Years 2*Financial Services 19 Years 3*Insurance 19Years 4*Stock Market 19 Years 5*Owner of - BUDGET HOMES CO. 30 Years ~~~~~~~~~~-----------~~~~~~~~~~----------~~~~~~~ You did not damage your credit in a day-They screw it up instantly ! ----------~~~~~~~~~~-----------~~~~~~~~~~-------------- LB 59
Re: Re: Inquiries from Insurance Companies THEY "CAN" PULL A "HARD" THEY DON'T HAVE TO!!! YOU CAN NOT SEE HOW ONE DRIVES BY A CREDIT REPORT!!!
Re: Re: Re: Inquiries from Insurance Companies Rite but you can see how to make big bucks on premium over charges.
Re: Re: Inquiries from Insurance Companies DO WE GOING TO GET CREDIT BASED ON OUR TICKETS...ACCIDENTS...AND CLAIMS??? NO THEN HOW CAN YOU GET INSURANCE BASED ON A CREDIT REPORT???
Re: Re: Inquiries from Insurance Companies My scores are low because of other reasons, bullshit reasons, not because I'm not responsible or am a risk. FedUp2003 ================= That's why scoring is a con job.
Re: Re: Inquiries from Insurance Companies Insurance companies pulling a hard AFTER you sign up for a policy is one thing, perhaps the company wants to evaluate your ability to pay your premiums, I don't know. But...I do know that pulling a hard when your calling up for just a QUOTE is an outrage !!!!!! For what it's worth, I'm calling my congressman.
Re: Re: Re: Inquiries from Insurance Companies [EDIT] DO WE GET CREDIT BASED ON OUR TICKETS...ACCIDENTS...AND CLAIMS??? NO THEN HOW CAN YOU GET INSURANCE BASED ON A CREDIT REPORT???
Re: Re: Re: Inquiries from Insurance Companies YOU PAY BEFORE COVERAGE STARTS!!! NO CREDIT IS INVOLVED...SO NO CREDIT REPORT IS NEEDED!!!
Re: Re: Re: Inquiries from Insurance Companies GEORGE, that's only when you pay for your premium in-full at the start of the policy. I'm referring to when you choose to pay month-to-month or semi-monthly. Don't get me wrong....I'm not defending the lousy insurance industry pulling credit reports. I think it stinks !
