good credit score=insurance savings

Discussion in 'Homesteading Questions' started by mpillow, Nov 27, 2004.

  1. mpillow

    mpillow Well-Known Member Supporter

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    Just wanted to share with everyone that our family just saved over $500 a year insurance (home & vehicles) because our credit was really good. Its called platinum program and our agent checked our score (no fee) and quickly saved us BIG BUCKS>!

    Worth checking out....your score needs to be high 700's FYI.
     
  2. fordy

    fordy Well-Known Member

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    ...........One , interesting , point of Leverage utilized by ALL Credit Card companies......IF...you(generic you) are LATE....on ANY payment.....No matter which creditor it is , the CC companies can Raise your interest Rate on your Visa\MC\Discover cards . This was revealed on the PBS special on Credit Card companies and their business practice(s) . They , have Lots of Rules , but very little Ethics in how they conduct their business and even less concern about the hardships that they create by extending credit to folks who can't manage their credit properly , ...fordy... :eek: :)
     

  3. mpillow

    mpillow Well-Known Member Supporter

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    Good point!

    We have always kept only one credit card each (from diff. credit unions) that have reasonable interest rates and no fees. Eventhough our rates are low around 12% it is almost irrelevant because we always pay the whole balance. We even keep separate checking to avoid not knowing what the other person might have written. And we always pay add'l principle on mortgage each month. Knowledge, self-discipline, and organization will serve one well in life!
     
  4. joan from zone six

    joan from zone six Well-Known Member

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    mpillow - good hint - what is the name of your ins. company? do you know if other companies have same policy?
     
  5. mpillow

    mpillow Well-Known Member Supporter

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    Its actually an independent agency having sevral carriers but ours is One Beacon. I'm not sure if others are doing this too but I have tried to tell everyone I know about it so they may also benefit. I did see a little ditty on the news about it about a month ago but actually our ins. agent called and asked us because there was a mess up in billing with our mortgage holder(payment includes taxes and ins.)
     
  6. DAVID In Wisconsin

    DAVID In Wisconsin Well-Known Member

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    I think that yall will find most insurance companies use your credit score in setting their rates. You may not even know when they are doing it.
     
  7. mpillow

    mpillow Well-Known Member Supporter

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    a certain "info." had to be given in order for agent to do the credit check, which they didnt have.