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Senior Contributor
Posts: 7,362
Registered: ‎01-05-2013
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BAFFLED and CONFUSED

According to Credit Karma my credit (FAKO) score went up 3 points, but my auto insurance score dropped 44 points.  How is this possible? Any insights will be greatly appreciated.

Regular Contributor
Posts: 135
Registered: ‎01-29-2013
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Re: BAFFLED and CONFUSED

CK is a FAKO score and you should take them with a grain of salt. Could be a number of weird factors, but I would not worry about it.

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Registered: ‎03-05-2013
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Re: BAFFLED and CONFUSED

Personally - and this is just me - but according to Credit Karma my insurance "score" is way in the tank. I've never made an insurance claim in my life, never had an accident in my life (or been involved in one), never had anything except a few parking tickets - from 20 years ago, etc. Despite what their score says, I've NEVER had a problem getting auto insurance at super great rates. So F their score. I personally wouldn't pay it any mind.

 

As for their "credit score": ditto. Pay it no mind.

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Registered: ‎02-11-2013
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Re: BAFFLED and CONFUSED


unusuallyconfused wrote:

Personally - and this is just me - but according to Credit Karma my insurance "score" is way in the tank. I've never made an insurance claim in my life, never had an accident in my life (or been involved in one), never had anything except a few parking tickets - from 20 years ago, etc. Despite what their score says, I've NEVER had a problem getting auto insurance at super great rates. So F their score. I personally wouldn't pay it any mind.

 

As for their "credit score": ditto. Pay it no mind.


Mine did the same thing... I noticed this when I opened a few new cards.. For some reason my score went up, and my ins score plumeted over 80 points.. Its like they ding you because they think, okay know, that you're going to be on the road more working over your new cards...

 

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Senior Contributor
Posts: 7,362
Registered: ‎01-05-2013
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Re: BAFFLED and CONFUSED

Thanks everyone.  I will rest a little easier with this info.

Senior Contributor
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Re: BAFFLED and CONFUSED


RSCo wrote:

unusuallyconfused wrote:

Personally - and this is just me - but according to Credit Karma my insurance "score" is way in the tank. I've never made an insurance claim in my life, never had an accident in my life (or been involved in one), never had anything except a few parking tickets - from 20 years ago, etc. Despite what their score says, I've NEVER had a problem getting auto insurance at super great rates. So F their score. I personally wouldn't pay it any mind.

 

As for their "credit score": ditto. Pay it no mind.


Mine did the same thing... I noticed this when I opened a few new cards.. For some reason my score went up, and my ins score plumeted over 80 points.. Its like they ding you because they think, okay know, that you're going to be on the road more working over your new cards...

 


LOL

Frequent Contributor
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Registered: ‎02-27-2013
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Re: BAFFLED and CONFUSED

The score is pointless imo just makes no sense I've had one claim in last 5 or 6 years no tickets etc.
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Frequent Contributor
Posts: 252
Registered: ‎02-19-2013
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Re: BAFFLED and CONFUSED

As others have said CK & any other FAKO score isn't anything to lose sleep over. All of my FAKO scores are 20 - 40 points below my actual FICO scores. But for some it is the other way around.

      

      

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Posts: 1,673
Registered: ‎11-11-2012
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Re: BAFFLED and CONFUSED


sarkell wrote:
The score is pointless imo just makes no sense I've had one claim in last 5 or 6 years no tickets etc.

The insurance score is nothing to do with driving experience (claims or tickets), purely based on credit record.  The justification is that some types of credit activity, different from that scored by FICO, can help insurance companies predict risk.   Several states, including my MA, have laws preventing this being used in setting premiums, but many other states have not.   So, for auto insurance, this really might not be a FAKO. 

 

But it does seem very strange, my Vantage is apparently the max 990, my insurance score varies from Poor to Fair (or whatever the level above Poor is called).

Blogger
Posts: 3,360
Registered: ‎10-19-2012
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Re: BAFFLED and CONFUSED

bs6054, are your FICO scores in the 800's? :robottongue:

From my observation, higher credit limits lead to lower auto insurance scores...

 

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