[Dlbonivich]

A good credit score is 690 in the insurance companies eyes. The longer you do not have a mortgage account or car payment the harder it is to have a high score. Haven’t had either for 20 years and it effects my score

[Kegarn]

Personal lines insurance (home/auto) use Insurance score, no longer your credit score.

[Hiltongrizz11]

Originally Posted by airdale2

My credit ratings are locked out so what can be the effect on this??

Your credit scores aren't locked out. If you mean you have a freeze that means no one can see them or alter them on the outside. However your credit scores still change and are affected by your monthly activities just like anyone else's. You can't freeze them in position lol 😂😂😂

[noslices1]

Originally Posted by retiredguy123

I don't get it. First of all, 10 points is almost nothing. How do you know it was the new card that caused your score to go down? Credit scoring is top secret, and often not logical. Did your score go up when you paid off the card? Do you need to make monthly payments on the card? If not, why would they issue you a credit card that you cannot buy anything with?

I have great credit. It was 833 and I bought a new car with 6 year financing. After I paid it off in 18 months my score dropped 10 points. I paid it off too fast according the the credit bureau. What’s up with that?

[christine J Toft]

Originally Posted by Dlbonivich

A good credit score is 690 in the insurance companies eyes. The longer you do not have a mortgage account or car payment the harder it is to have a high score. Haven’t had either for 20 years and it effects my score

Interesting. My credit score is 833 out of 850 and I haven't had any debt in 20 years.

[retiredguy123]

Originally Posted by Dlbonivich

A good credit score is 690 in the insurance companies eyes. The longer you do not have a mortgage account or car payment the harder it is to have a high score. Haven’t had either for 20 years and it effects my score

I have never had a car payment, and I haven't had a mortgage in more than 40 years, but my credit score is over 800.

[retiredguy123]

Originally Posted by noslices1

I have great credit. It was 833 and I bought a new car with 6 year financing. After I paid it off in 18 months my score dropped 10 points. I paid it off too fast according the the credit bureau. What’s up with that?

Did you actually hear that from a credit bureau? If not, it would just be speculation. I didn't think they ever shared information about how they calculate the scores.

[joelfmi]

This number was left on my answering machine stating if I did not call the number by 5PM the next day the US Marshall would come to my home and arrest me. I never did call it was a scam. I still have the message on my answering machine for proof of this call

[Billy1]

credit scores go up and down, whether you charge something or not.

[Notsocrates]

Originally Posted by retiredguy123

It makes perfect sense to me. People with a high credit score are more responsible with debt and that translates to other areas of responsibility, including how well they take care of their property. Also, they are less likely to file an insurance claim, which could cause their insurance rates to increase.

Making sense has nothing to do with it. Insurance is actuarial. If claims from those with low scores are more, rates for them go up. That's all therecjs to it.

[Ptmckiou]

Originally Posted by Dlbonivich

A good credit score is 690 in the insurance companies eyes. The longer you do not have a mortgage account or car payment the harder it is to have a high score. Haven’t had either for 20 years and it effects my score

Not true for us. My score is upper 783 and have always carried a mortgage, car payment, and credit card debit. It’s your handling of debt they watch.

[debb3c]

It makes perfect sense, too much to explain here, but I’m sure that is right on target

[dlk1019]

Credit scores are the biggest scams out there. I know 2 different people with scores in the 800’s. They both have little to nothing; neither work, so their income is minimal, and they have been in this position for many years. My credit score is in the 700’s and I literally help support one of these people.
Not sure who invented the credit score, or what it’s real purpose is suppose to be.

[dewilson58]

Originally Posted by retiredguy123

I have never had a car payment, and I haven't had a mortgage in more than 40 years, but my credit score is over 800.

[dewilson58]

Originally Posted by dlk1019

Credit scores are the biggest scams out there. I know 2 different people with scores in the 800’s. They both have little to nothing; neither work, so their income is minimal, and they have been in this position for many years. My credit score is in the 700’s and I literally help support one of these people.
Not sure who invented the credit score, or what it’s real purpose is suppose to be.

The two have never been late like you.

Purpose...........consistency.