Credit affects so many things nowadays - the interest rate on loans, the required deposit amount on your utility account or apartment lease, the cost of your home or auto insurance. Wait a minute! My credit score can affect how much I pay for insurance? That doesn't make any sense. Or does it?
The truth is, almost every insurance carrier out there gives people with good credit better rates than those with 'bumpy' credit.
Since I work in the industry, I think I know the answer why they use credit as a rating factor, but I'd love to hear everyone's thoughts on the issue.
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