More proof (as if we needed it) that a CK score is worthless

For just about anything you want to get off your chest about credit cards.
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MemberSince99
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Postby MemberSince99 » Mon Mar 25, 2013 6:42 pm

Well Daniel, appreciate you chiming in, but your data unfortunately does not compute.

In my case, as I mentioned my rating on CK is "Very Poor". I have no derogs, no late payments, and my rating was also "Very Poor" prior to getting a new vehicle last September. I really doubt that getting a new vehicle 6 months ago makes me a massive risk, but hey, what do I know.

I'm going to posit that the insurance companies, being the semi-legitimate criminal organizations that they are, will use ANY excuse to say you're a horrible risk we must jack your rate up, our execs need a new golf course on company grounds (my old insurance company actually had one on-site for their pampered execs). Case in point - when my credit was horrible, they used that to jack my rate up, it was almost as much as if I'd had a drunken driving (which I've never had). But once my credit improved and I had a really good score (720s) they didn't drop my premium - nope they continued to jack it up, citing any excuse they could manufacture. I finally got wise to them and went to another company who offered me the same coverage for half the money, no doubt to get the business and with the full intention to jack the rate up as soon as possible.

That's why I switch thieves I mean companies on a regular basis. Let the competition work for you, that's what capitalism is supposed to be about. It's all money down the toilet from my perspective anyway so I might as well get a reasonable screwing as opposed to a massive screwing.

Just how I see it.


Daniel
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Postby Daniel » Tue Mar 26, 2013 11:24 am

Yeah, I couldn't tell you which model they are using here, and you may be correct that it has little value, or is flawed. But don't discount them in general, because the insurance companies definitely don't! :)

MemberSince99
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Postby MemberSince99 » Tue Mar 26, 2013 8:56 pm

Ok, thanks for that! :) Honestly I'm not sure why I'm viewed as a terrible risk, but if it helps them jack my premium up, God bless the insurance companies :) Anyway thanks for chiming in and not taking offense as well.

DavidNY
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Postby DavidNY » Tue Mar 26, 2013 9:38 pm

Daniel wrote:I would like to note that insurance scores are not nonsense


CK has me listed as a 'poor' insurance risk. It seems like this insurance score is nonsense since I have excellent credit scores.

sosabe77
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Postby sosabe77 » Wed Mar 27, 2013 5:17 am

Yeah, CK is extremely hit or miss. I can't complain about the free monitoring though.

Daniel
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Postby Daniel » Wed Mar 27, 2013 11:46 am

MemberSince99 wrote:Ok, thanks for that! :) Honestly I'm not sure why I'm viewed as a terrible risk, but if it helps them jack my premium up, God bless the insurance companies :) Anyway thanks for chiming in and not taking offense as well.


I feel like we are in the wrong business, maybe we should start an insurance company and find reasons to jack ppl's rates up; after we do that, we may need to offer them token discounts to make them feel better about it :P We may be on to something here hehe

MemberSince99
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Postby MemberSince99 » Wed Mar 27, 2013 8:12 pm

If I had no morals, I'd do that. Or sell intangible goods that I take paypal payment for - in their terms and conditions they do not cover intangible goods hence it's a license to steal (legally). I know this because I got screwed that way - I bought software items and when I did not receive what I paid for filed a claim. Paypal duly denied the claim on the basis they do not cover intangible goods. At that point, I realized that if making money was my ONLY concern, I'm in the wrong business.

But I have to live with myself so I make an honest living. It sucks, but what can you do.



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