full-timing and credit rating

My auto insurance agent told me that they check your insurance score every two years.

Credit rating is a factor with insurance these days, but primarily when applying for new insurance. Renewals not so much. Seems there is factual evidence that people with low credit are more apt to file a claim for self inflicted damage.

WyoTraveler wrote:

WVbassmistress wrote:
Not sure about the "what does it matter if you are debt free". Aren't insurance rates partially based on credit rating?

Yup.

Really? My credit rating is 0. I've been with the same insurance company for almost 30 years and the subject never came up.

WVbassmistress wrote:
Not sure about the "what does it matter if you are debt free". Aren't insurance rates partially based on credit rating?

Perhaps, but if you've been with the same co for years, I doubt it.

WVbassmistress wrote:
Not sure about the "what does it matter if you are debt free". Aren't insurance rates partially based on credit rating?

Yup.

Not sure about the "what does it matter if you are debt free". Aren't insurance rates partially based on credit rating?

Even if you don't have a house, you'll still want to pay attention to your credit rating. You might want a new camper some day or need a loan for repairs (although I hope you won't!)

Here's how the FICO score is currently derived:

It will for a while, maybe a couple years. No big deal. It's not the fulltiming, it's selling the house.

If debt-free then you can thumb your nose at a credit rating.

I would think full timing has little impact on credit rating. As long as you don't do anything to damage your credit rating it should stay good, however if you are no longer working or have income when you go to borrow money you may get a second look even though your credit rating is good. I kinda experienced this recently when I purchased a new truck. My good credit rating allowed me to get the lowest interest rate but if I was not at a bank who has known me for a long time the "measley" retirement check (i'm not old enough for social security yet) may make some lenders balk.

If you are debt free it is a non-issue.