@Anonymous wrote:
I am not 100% positive if a LOC would count, but I believe it would. I would have to go back and look at the LEXIS-NEXIS attract codes or you could do so.
And you don’t have to have 33%. Having one helps you, but as you cross thresholds with more it helps you more, all the way up to the highest breakpoint being 33%. Therefore it would do you no good to have more than a third of your cards or accounts being credit union.
It's any open account (card, LOC, loan, anything), with a credit union, savings and loan (if you could still find any!), or any open mortgage account.
For Attract Auto, the threshold is only 14.3%, and the codes are 3118-3120:
"% of Open Credit Union, S&L, Mortg Accts to Total Opn Accts is xxx":
14.30% or More of Opn Crdt Union,S&L,Mort Act to Ttl Opn Accts is Better
1. What information is this message derived from? Of all the accounts that are considered open, the percent of those accounts that are open credit union, savings & loan, or mortgage accounts. An account is considered open if it has been reported in the last 12 months and has not been reported as closed. Installment type accounts must have a balance to be considered open.
2. How does this affect my insurance risk score? Insurance industry research shows that consumers who have a higher proportion of their active accounts with a credit union, savings and loan or mortgage experience fewer insurance losses.
3. What can I do to improve my score? If you have only a few accounts, keeping them active and making payments on time shows that you use your credit responsibly.
For Attract Home, the threshold is 33.34% (the very nit-picky will notice that 1/3 of your accounts is NOT enough to hit this...), and the codes are 3482-3486:
"Ratio of Opn Credit Union, S&L, Mortg Accts to Total Opn Accts is xxx":
Ratio of 33.34% or More Opn Crdt Union, S&L, Mort Acct to Ttl Opn Accts is Better
1. What information is this message derived from? Of all the accounts that are considered open, the percent of those accounts that are open credit union, savings & loan, or mortgage accounts. An account is considered open if it has been reported in the last 12 months and has not been reported as closed. Installment type accounts must have a balance to be considered open.
2. How does this affect my insurance risk score? Insurance industry research shows that consumers who have a higher proportion of their active accounts with a credit union, savings and loan or mortgage experience fewer insurance losses.
3. What can I do to improve my score? If you have only a few accounts, keeping them active and making payments on time shows that you use your credit responsibly.
Attract Home also has the very fun combo of 3492-3493...
"# Credit Union, S&L, Mortgage Accounts Established is xxx":
7 or More Credit Union, S&L, Mortgage Accounts is Better
1. What information is this message derived from? The score considers the number of credit union, savings & loan, or mortgage accounts.
2. How does this affect my insurance risk score? Insurance industry research shows that consumers who have a higher proportion of their active accounts with a credit union, savings and loan or mortgage experience fewer insurance losses.
3. What can I do to improve my score? If you have only a few accounts, keeping them active and making payments on time shows that you use your credit responsibly.
...which interacts soooo well with 3494-3501:
"# of Accounts Established is xxx" (with ranges of 6-7, 8-19, 20, 21-28, 29-34, 35-40, 41-53, and 54+):
Having 5 Accounts or Less is Better
1. What information is this derived from? The score considers the number of accounts that you have on file. This includes accounts that are closed as well as those that are still active.
2. How does this affect my insurance risk score? Insurance industry research shows that consumers who open a large number of accounts experience more insurance losses.
3. What can I do to improve this aspect of my score? Once you have opened an account, regardless of whether you use it, your score will be impacted by this factor. Open new accounts only when needed.
EQ8:850 TU8:850 EX8:850
EQ9:847 TU9:847 EX9:839
EQ5:797 TU4:807 EX2:813 - 2021-06-06
