What Other States Use Credit As a Rate Factor?

[eliotmason]

Nearly every state allows for the use of credit. CA and MA are exceptions. There may be more.

Consumers don't necessarily need to provide their social security number as part of the quoting process. Most of the time, name and address are enough.

 

[tospears]

A SSN isn't necessary in all cases to convert an app to policy. I had an 85 year old Army Vet who cursed me up one side and down the other because he didnt want to give me his SSN. I called my underwriter, and he said it was ok to write w/o the SSN.

 

[mileena]

....you can't even rent a car with poor credit since their stats showed higher accident rates with people who have poor credit.

That said, everyone gets swept up in the net which is tragic. There are reasons for poor credit that are largely out of someone's control who could be the worlds safest driver.

Sorry for the tangent, but try getting a solid job with poor credit.

exactly. i have poor credit but it is not my fault. i have $50,000 in defaulted education loans from 1994 (16 years ago!!) on my credit report. they should've been removed after 7 years, but under federal law, such loans cannot be discharged in bankruptcy or removed from your credit report and you still owe the government! so because of this my credit looks bad when it shouldn't be. i am a good driver.
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Nearly every state allows for the use of credit. CA and MA are exceptions. There may be more.

Consumers don't necessarily need to provide their social security number as part of the quoting process. Most of the time, name and address are enough.

NJ is another state. there is at least one more state too. forgot what it was.
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....you can't even rent a car with poor credit since their stats showed higher accident rates with people who have poor credit.

That said, everyone gets swept up in the net which is tragic. There are reasons for poor credit that are largely out of someone's control who could be the worlds safest driver.

Sorry for the tangent, but try getting a solid job with poor credit.

i've never had a problem renting and i have poor credit. as long as you have insurance, there is no way the rental company is going to turn down a paying customer. they are in business to make money.

 

[Paul Yeaple]

Some TX Companies in Texas do... Safeco, Travelers...Travelers is pretty spot on with the Insurance Score almost being a reflection of you Credit Score

 

[1manshow]

exactly. i have poor credit but it is not my fault. i have $50,000 in defaulted education loans from 1994 (16 years ago!!) on my credit report. they should've been removed after 7 years, but under federal law, such loans cannot be discharged in bankruptcy or removed from your credit report and you still owe the government! so because of this my credit looks bad when it shouldn't be. i am a good driver.

Please tell me how it's "not your fault" if you didn't pay back your college loans? Are you a total dipstick?

 

[Aram Fingal]

Are you a total dipstick?

Yes, see mileena's other threads.

 

[JMO Fan]

Stats show that poor credit generally means more auto insurance claims.

One example: Those who get behind on payments park the car in a bad area with the keys inside. Theft means total loss. Insurer pays.

Those who are careless with credit tend to be careless with their cars and other possessions.