this post was submitted on 17 Jul 2025
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Yeah cuz a credit score measures how good you are at being a credit customer, not how good you are at money.
And is irrelevant to the text above? They said their insurance went up not that their credit score changed.
Wanna take a guess at one of the factors in how much you pay for insurance premiums in most US states?
LOL. I have excellent credit and I pay nearly twice the higher figure.
The post title directly references credit scores. Its pretty relevant to respond to.
I was replying to OP saying, "Also, your credit score drops if you pay all your debts," not the item they quoted.
You don't need to loan money to get a credit rating, that is a total myth.
The credit rating is based on assets and income, debt actually has very little effect on it, only if you declare bankruptcy does it usually change the rating.
A person with a mortgage will always have a much better credit rating than the same person without a mortgage, not because they have a debt, but because the house is an asset.
House insurance on a mortgage is there to protect the lender, not the homeowner. Its quite likely that paid off mortgage policy holders make more claims than mortgage owners and that would affect the risk rating.
You're right in that you actually need to be loaned money to get a credit rating, but you're just entirely wrong overall.
You're objectively incorrect. Please look into what the credit agencies say they use before you provide your opinion.
How much you owe and your payment history is 65% of your credit score alone. You literally have to be loaned money to have a credit score.
What you're saying directly contradicts what OP (the headline writer not the post they quoted) said - that paying off your debts lowers your credit rating.