Q&A: How might one decrease the disadvantages you listed such as higher insurance premiums from using a credit card?
Question by Kamisha C: How might one decrease the disadvantages you listed such as higher insurance premiums from using a credit card?
Best answer:
Answer by Nicole
Using a credit card in itself won’t increase your insurance premiums. In personal home and auto insurance, the company runs an “insurance score” aka your credit score. The better your credit, the better your rate. I’ts a way for the insurance company to find a preferred market, just like them running your MVR. The fewer violations, the better your rate, etc.
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