The FACT Act of 2003: Notice and Request For Public Comment On the Effects of Credit Scores and Credit-Based Insurance Scores on the Availability and Affordability of Financial Products
Our automobile insurance was increased last September based wholly on our credit score. I feel this is so unfair, we had a period of medical illness in our family and the bills hurt our score. Our driving records are spotless with no tickets or accidents on either of us, so why should our rates increase for that factor alone?? I feel this is unconstitutional and not fair to the general public. I have not had any tickets or accidents in over 20 yrs, so I do not agree with what the insurance companies are stating in relation to a credit score can equal a bad driver. Thank You!