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Issue Position: Credit Scoring

Issue Position

By:
Date:
Location: Unknown

Most insurance companies today use information in your credit history along with other factors in deciding whether they will offer you coverage and how much you will pay for it.

I believe that credit scoring in insurance is inherently unfair, particularly in today's economy. And I have tried to limit and even ban the practice.

At my request, the Legislature passed a bill limiting the use of credit scores that prevents insurance companies from considering:

*The number of credit inquiries
*Collection accounts identified as medical bills
*The initial purchase or financing of a vehicle or house
*The use of a particular kind of credit, debit or charge card
*Your total available line of credit

If you believe the use of credit scores for insurance is unfair or discriminatory, I strongly recommend that you let your legislators and legislative candidates know.


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