Gas Card Reporting

[Remember0]

I found an article on the web that says havin a gas card helps your auto insurance score (or at least one of the many auto insr scores available):

"The ChoicePoint Attract scoring model, with dozens of separate factors...dings you for...not having an oil company credit card..." ( http://editorial.autos.msn.com/article.aspx?cp-documentid=435604 )

Hence my question regarding if say the Shell or Mobil gas cards report differently on a credit report...like how do they tell you have an oil company credit card? Shell and Exxon gas cards for example are backed by Citi. It wouldn't shock me if it reported as a retail citi card, unless credit reports have a special Gasoline category.

P.S.: The impetus behind the question is from this thread which talks about auto insurance FICO scores: http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Hilarious-CreditKarma-changes/m-p/3154486...

[takeshi74]

I don't have a current report but on one from 2013 my Shell card reported just as another revolving account.  The only indication that it is a gas card is that it reports as "SHELL/CITIBANK CBNA".  There is no "gas card" section on reports for the major 3 CRA's.  You can verify by pulling your own report.  Sections don't come and go.  If you don't have anything under a section the section will be empty.

EDIT: Choicepoint Attract appears to be a LexisNexis product and, IIRC, they maintain their own database.  If that's the case it's certainly possible that they have gas cards listed distinctly.

[capitalkid]

I read years ago about having an oil card to boost Ins rates. I applied for chevron card and it was declined due to BK, then my husband applied and got one at 500$ starting line,GE.  Within about 6 months his score for insurance qualified him for a new rate upon renewal, so we inquired as to what the current rate would be to have me added so I could drop mine altogether and we could save $.  

We have a 1 Ton F350, 2 drivers mid/upper 30's no points, no accidents, 1 car on the policy and we have current of 1,000,000/1,000,000 coverage for 85$ mo and the coverage is maxxed out per the state law, we have everything set to the highest point value, car rental coverage, towing, BI/PD/VD/DR/CC/ everything that can be ticked is ticked.  Even accident forgiveness is ticked.  And our truck is PIF.   

Prior to his established Oil card we had two different insurance carriers for each of us to cut our rates down and were early 30's,no accidents/points.  I was paying 80$ plus per month and his was 75$ plus per month, we had a way higher rate for both of us together on our 1Ton truck.  Also our coverage was just over the state minimum for the above rates and did not have any extras.  It sucked for sure I was always worried because we drive such a large vehicle and our truck is 100% steel and will hurt another car should something happen, most likely they will suffer more than us, so we need to be mindful of the other party/parties in future planning w/insurance more so than ourselves. 

In 2012 I added a oil card finally. to my side of the reports, our rates this last time around were savings of about 10$ per mo.  As per last policy renewal May 2014.  

SO, I have no doubt having an oil card has aided our rates, we will not be without an oil card- if only for the reporting purposes, in the future if we can help it.  

Of course YMMV, 

[TRC_WA]

No change here. My insurance actually went up $10 a month when I renewed and I have 2 gas cards.

I don't buy this at all. There is no gas card section of your CR... These cards report the same as the others.

[Remember0]

Fair enough. Even if it does help, it's probably impossible for us to tell as there's so many other factors going into it.

But thanks guys! Now that I know it reports like every other revolving account, I'm most likely not even going to bother getting a gas card. Functionally, I don't see why my regular credit cards aren't far better...I mean they work just as well as a gas card at a gas pump when need be. You'd think the auto insurance companies would be smart enough to realize that hopefully.