Can my driving habits effect my credit score?
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A month ago I’ve attended a S.T.O.P Class and got into an argument with the instructor.
According to him – the number of points that on my licence can reduce my FICO credit score.
To my understanding – your driving habits & record can effect your insurance payments, but has nothing to do with your credit score.
P.S. can a credit score effect your auto insurance quote?? I can’t see the connection here..
Tnx
StefanieStefanie,
You are very right. The federal law prohibit many personal information items from being factored into your credit score, including your deriving habits (points on your driving license).
Federal law also prohibits factoring any private information “that is not proven to be predictive of future credit performance”.
As to why credit scores have effect on your insurance rate – I’m not sure. Anyway, it’s a known fact.
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