Comments on: Credit Score and Insurance Rate http://www.thesunsfinancialdiary.com/personal-finance/credit-score-and-insurance-rate/ Fri, 03 Feb 2012 17:42:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Sunhttp://www.thesunsfinancialdiary.com/personal-finance/credit-score-and-insurance-rate/#comment-11400 Sun Fri, 15 Jun 2007 18:53:24 +0000 http://www.thesunsfinancialdiary.com/articles/credit-score-and-insurance-rate/#comment-11400 Minimum Wage: Thanks for sharing your story. I am sure things will get better for you and there are lots of better paying jobs. It's tough to rebuild your credit, but that's not something that can't be done.TFB: It's true that when you have a perfect score, then none of these actually matters any more. It's always desirable to have a good credit score, no matter what it is for, loan or insurance. Minimum Wage: Thanks for sharing your story. I am sure things will get better for you and there are lots of better paying jobs. It’s tough to rebuild your credit, but that’s not something that can’t be done.

TFB: It’s true that when you have a perfect score, then none of these actually matters any more. It’s always desirable to have a good credit score, no matter what it is for, loan or insurance.

]]> By: TFBhttp://www.thesunsfinancialdiary.com/personal-finance/credit-score-and-insurance-rate/#comment-11387 TFB Fri, 15 Jun 2007 14:24:51 +0000 http://www.thesunsfinancialdiary.com/articles/credit-score-and-insurance-rate/#comment-11387 I don't think one should be overly concerned if one has good credit. The credit score screen at the insurance companies is more likely a negative screen. If someone has bad credit, they will add a surcharge, but if your credit score is already 750, i.e. good, you won't get a further discount if you make your score to 800. I don’t think one should be overly concerned if one has good credit. The credit score screen at the insurance companies is more likely a negative screen. If someone has bad credit, they will add a surcharge, but if your credit score is already 750, i.e. good, you won’t get a further discount if you make your score to 800.

]]> By: Minimum Wagehttp://www.thesunsfinancialdiary.com/personal-finance/credit-score-and-insurance-rate/#comment-11333 Minimum Wage Thu, 14 Jun 2007 19:01:19 +0000 http://www.thesunsfinancialdiary.com/articles/credit-score-and-insurance-rate/#comment-11333 My credit went from good to bad in a hurry due to an extended illness during which I was unable to work. In hospital and without income, I was unable to pay my bills, and all my active open accounts were closed and charged off.I ended up with a tax lien, a creditor judgment, and a bunch of chargeoffs. I am working again, earning minimum wage, but I cannot resolve those first two issues (which won't drop off my credit report until resolved) on my income, suggesting that I might never be able to get my credit out of the tank.So now I quickly went from a good risk to a bad risk, and remain a bad risk indefinitely? I don't think so! My credit went from good to bad in a hurry due to an extended illness during which I was unable to work. In hospital and without income, I was unable to pay my bills, and all my active open accounts were closed and charged off.

I ended up with a tax lien, a creditor judgment, and a bunch of chargeoffs. I am working again, earning minimum wage, but I cannot resolve those first two issues (which won’t drop off my credit report until resolved) on my income, suggesting that I might never be able to get my credit out of the tank.

So now I quickly went from a good risk to a bad risk, and remain a bad risk indefinitely? I don’t think so!

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