I am shopping around for the best car rates, but the companies need my SSN to give me an accurate quote. Will this affect my credit score if they run my credit to see what rates I qualify for? I don’t want to get my score lowered!

 

  • Tom Larsen 5:02 pm on April 17, 2010

    Quick answer – NO!

    I have insurance companies that have 60 "tiers" of rates, so your credit "score" determines where you fall in the tier rating system.

    In no way does this effect your credit rating.

  • tinkerbell25 5:02 pm on April 17, 2010

    I’ve heard of insurance companies refusing to cover you if you have a low credit score. I highly doubt it would affect your score since your not seeking to borrow money.

  • fmulder21@sbcglobal.net 5:02 pm on April 17, 2010

    I don’t think so, they do a "soft inquiry" I keep up with my score and never see anything "hard"= Opening a new credit card. I’ve never even seen them on the "only credit checks you can see." IE: American express reviewing your credit every few months…etc

  • ★★★ Katharine ♥♥♥♥ 5:02 pm on April 17, 2010

    no, it won’t…
    they want it to see what kind of rates to give you – because how good of an insurance rate depends upon your credit with some companies.

    • People are reading:

    am i required to give my insurance agent my ssn, does auto ins use my ssn, does shopping around for insurance affect your credit, will getting an insurance quote affect my credit score