Free credit score reports Shreveport

The adventure begins by following the letters instructions to call the listed 1-800 number to receive a free copy of your credit report which apparently has some effect on the score. You may wait several weeks for a reply, only to be sent a consent form that reads like an identity thiefs dream: the form will request detailed proof of identification, including photocopies of your drivers license, in addition free credit score reports Shreveport to your social security number and your insurance information.

If after gathering all of free credit score reports Shreveport that information you are brave enough to send it off through the mail, the packet that you get back will simply summarize your credit rating, with absolutely no information about your insurance score. If you inquire further with the credit-reporting agency, you will likely be told that your credit report contains information that was used to calculate your free credit score reports Shreveport insurance score, but that the credit-reporting agency has no access to your actual score. free credit report review (More: Does Spiderman Need Life Insurance?) If you persist and contact your insurance company, it will likely tell you that 99% of its clients do not qualify for the companys lowest rate, and to qualify, your credit must be absolutely perfect.

In other words, even if you carry free credit score reports Shreveport no balances on your credit cards, own your home free and clear, are completely free credit score reports Shreveport debt free and have free credit score reports Shreveport a credit rating in the high 700s, youre still unlikely to have an insurance score that qualifies you for the lowest available insurance free credit score reports Shreveport rate. absolutely free credit report no trial

So what exactly is this mysterious insurance score, and what exactly is its reason and purpose? What It Is and How It Is Calculated An insurance score is a rating used to predict the likelihood that a customer will file an insurance claim. This score as we noted above - is based on an analysis of a consumers credit rating, and the method for calculating it varies from insurer to insurer. While many companies use proprietary formulas to calculate the scores, the free credit score reports Shreveport factors used in the calculation include the customers outstanding free credit score reports Shreveport debt, length of credit history, payment history, amount of revolving credit versus amount of credit in the form of loans, available credit and monthly account balance. Unlike a credit rating, which uses free credit score reports Shreveport personal financial information to determine your ability to repay debts, insurance-score calculations do not factor in your income. www credit report free This omission means that it is very possible for you to be penalized for taking out a large loan or charging a large amount on your credit cards each month even if your income is more than enough to cover the expenses. The Logic Insurance companies justify the use of insurance scores by citing studies that apparently show a positive correlation between credit scores and insurance claims.