Quote:
Originally Posted by WinnisquamZ
After conversations with a few individuals in the insurance industry I was awakened to the fact that one’s credit rating is factored into rates. And over the past few years it has weighed more. Personally, mine has declined because I don’t have a mortgage or car payments. And carry little CC debt. Crazy world we live in
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Great point. The fact that one's credit score depends on the amount one borrows is ludicrous! When we paid off our home, and at the time we had no debt, our credit scores plummeted. We now buy a vehicle on credit even though we don't have to. It went up immediate. Dave Ramsay has been ranting about the backward system for a long time, but no one seems to hear.