EXACTLY !! As my brother says: "People are seriously trying to pay down debt to improve their credit score, and the insurance companies are responding by shuffling around the credit rating numbers to screw over the policy holders."
yeah, the goalposts are moving and I'm not sure we can run fast enough to keep up.
I had to chuckle about this. My father never owned a credit card until the last few years of his life, when his company forced one on him.
He would go in to the local Chevy dealer when we were kids, everyone knew each other, and worked his best deal, usually no interest over three or six months.
And on one of his last purchases, the credit clerk came back and with a face of woe told my Dad he had been turned down. Not for bad credit. For NO credit.
The dealer owner hustled the girl off and finished the deal, as normal...
It costs a lot of money to bring in a new customer. Always better to keep one, but clearly there's some squeezing going on.
Much of many insurance companies money has to be kept in short term accounts to ensure their claims will be paid; certain liquidity requirements.
And we all know how well short term money is earning now. So the insurance companies are getting more creative in their marketing schemes.
Like the airlines.
This is why I sold my independent insurance agency back to my partner. It was a gold mine. But I couldn't stand representing the big insurance companies
to my neighbors and friends when I had lost faith in them. The insurance companies jerked the clients around, and I had to try to justify the unjustifiable.
Phooeey. And btw, I think Progressive's Flo is nauseating and ugly. There, got that off my chest. :thumbsup:
