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Posted in Auto Insurance
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mayamcgoo

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Why don't you show my caar insurance on my credit report?
I have been paying car insurance for years, but you do not show it on my credit report.

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Car insurance is not a credit item.  It best qualifies as a legal expense since we MUST have car insurance before we can drive, as required by the law.

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just because they check your credit

Doesn't mean it's something that the agencies consider relevant to your credit report.  Lots of entities look at credit reports for various reasons (rightly or wrongly for that matter).  But credit reports are specifically for credit risk assessment.  Sometimes this doesn't make sense from the consumer viewpoint, but look at it from the lender's view, and suddenly it makes sense.  For example, paying on a car loan can boost your credit score & look good on your credit report, when quite obviously the ability to pay for a car in cash is certainly a sign of higher financial prowess.  But that's not something they track...  because credit reports are used mostly by LENDERS... and people who don't borrow money are not "good customers" to LENDERS... even if they keep the legal auto insurance on their car or pay their electric bill every month.  HOWEVER, that's not to say that if you're approaching your local bank or credit union for a loan, you can't use other things, beside your credit report.  It may indeed help you, if you have a thin credit file, if you take some length of time worth of proof of on time payments to your landlord, auto insurance, utility companies, etc., to try and make your case that you're financially sound and worthy of credit risk.  It would entirely depend upon the financial institution and their policies and discretion on using those things, but it's certainly worth a try if you're financially secure but your credit report is not getting you anywhere.

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