Is bad credit a character flaw?

[Dr. Zhivodka]

I find this puzzling. I have above average credit (765) and I get treated very well. Lines of credit at big banks, leased cars ...etc...etc.

Care to elaborate? What do you consider "perfect credit?"

Quote from Roman Candle:

I can tell you one thing, I have perfect credit and 35 years of it. I am getting treated like I have crappy credit. So what’s the difference?

 

[Roman Candle]

Quote from Dr. Zhivodka:

I find this puzzling. I have above average credit (765) and I get treated very well. Lines of credit at big banks, leased cars ...etc...etc.

Care to elaborate? What do you consider "perfect credit?"

778 with equifax. I have tons of credit lines, they have all been cut. They tried to raise my rates, I opted out and closed the line. So I can pay off the debit at the original rate.

I had a B0fA account for 20 years, 35k credit line, 7.99% never late ever. It was cut to 5k and rate raised to 24.34%

 

[bigarrow]

Quote from sjfan:

What exactly do they lie about? Were you supposed to care about you in some personal way? You are an inconvenient element in a perfectly normal statistical population. You mean shit to them. If you think any differently, I think you don't really have a grasp on life, nevermind insurance

Their policy doesn't affect me, my auto rates are pretty good.
Do some reading on the insurance companies, I don't have time or inclination to educate you. Once you understand their history you'll realize what kind of low life business they run.
I deal with property insurance everyday and I've worked for the companies also. In fact I just talked to two adjusters today. Adjusters by the way are usually pretty good people, I like dealing with them. But your either fooling yourself if you trust the insurance companies or your ignorant, probably both.

 

[bigarrow]

Do a google search on "Mckinsey & Company" and you start to see how the large insurance companies operate.

 

[sjfan]

Where did I say in any of my posts that I *trust* them? There's a world of difference between trust and "they lied". I simply hold an opinion of professional indifference to them. I have insurance. I know that they are adversaries in that it's in their interest not to pay me. But there's a difference between that and "lying".

(Obviously, there are fraud in insurance like there are fraud in basically everything. But a few bad apples does not rotten basket make).

Quote from bigarrow:

Their policy doesn't affect me, my auto rates are pretty good.
Do some reading on the insurance companies, I don't have time or inclination to educate you. Once you understand their history you'll realize what kind of low life business they run.
I deal with property insurance everyday and I've worked for the companies also. In fact I just talked to two adjusters today. Adjusters by the way are usually pretty good people, I like dealing with them. But your either fooling yourself if you trust the insurance companies or your ignorant, probably both.

 

[Dr. Zhivodka]

Wow...that really does suck man. I'm very surprised with that score and having never been late they would try that stuff with you. No rhyme or reason. They're certainly not incentivizing you to be a good customer.

Quote from Roman Candle:

778 with equifax. I have tons of credit lines, they have all been cut. They tried to raise my rates, I opted out and closed the line. So I can pay off the debit at the original rate.

I had a B0fA account for 20 years, 35k credit line, 7.99% never late ever. It was cut to 5k and rate raised to 24.34%

 

[FanOfFridays]

Quote from TGregg:

People with bad credit scores will (on average) have a history of making poor choices compared to people with good scores.

Take a million people with 20 years of credit history. Break out the top 10,000 and bottom 10,000 by credit score. The top 10k will be (on average) better and safer drivers, be better educated, have better jobs, be in better health, be more honest, etc. Does it mean that every single person in top group is a better driver and all the rest compared to every single person in the bottom group? Of course not. But if I am a car insurance company and I need to set rates for a million customers then one easy variable is credit score.

This is correct

Quote from ddefina:
Someone of high moral character won't have a bad credit score. And likewise a person of low moral character will have a low credit score.

This is total bullshit. Evidently you missed the lecture on actuarial theory in your stats class.

 

[jhnsmith978]

Quote from nutmeg:

I notice a thread:

Fast food places now getting applications from people with bachelors degrees.

Who do you hire?

High credit score, no degree.

Low credit score, but applicant has a degree?

It depends actually..If you ask me for that then i will go for people with Low Credit Score but having a degree..Because I am sure applicants with degree always have capability to raise their Credit Score easily..
Raise Credit Score

 

[u21c3f6]

Quote from nutmeg:

I notice a thread:

Fast food places now getting applications from people with bachelors degrees.

Who do you hire?

High credit score, no degree.

Low credit score, but applicant has a degree?

Actually, this has more to do with the job than the credit score but I would actually hire the high credit score, no degree.

Joe.

 

[Lethn]

Quote from u21c3f6:

Actually, this has more to do with the job than the credit score but I would actually hire the high credit score, no degree.

Joe.

Apologies if someone has already pointed this out but:

Wouldn't the reason that you got a degree and have low credit be because you took out a student loan? Of course it depends on the country but if it were somewhere like the UK it would pretty much just be added to the hideously rising national debt and hardly anyone would notice.

Credit Card companies wouldn't be able to tell the difference because they're privately owned and wouldn't have access to such information so isn't that a completely misguided and baseless assumption on their part?

Feel free to correct me but that's how I see it.