Bad Credit Can Impact Car Insurance More Than Drunk Driving   

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By Mark Foster
This is hard to believe, but recently Consumer Reports said a customer’s credit score may matter MORE than a drunken-driving conviction for auto insurers setting premiums! Yes, a DWI conviction may raise your car insurance premium, but not as much as bad credit. It may seem wrong, but that’s the facts. It just goes to show how important having good credit is and how much it can impact us. Here are a few tips to boost your credit score:

  • Make sure your payments are always on-time. Just one late payment could knock your score down by about 100 points.
  • If you have credit card debt, focus on knocking it down. Pay more than the minimum due. The less you owe, the higher your score.
  • Owing 50 percent or more of your credit card limit (for example, owing $500 on a $1,000 limit card) is a “score killer” in FICO’s (credit scoring company) own words. Again, the less you owe, the higher your score.

Focusing on these important score factors can help you boost your score and ultimately save money.
Mark Foster is Director of Education with Credit Counseling of Arkansas (CCOA). CCOA is a member of the National Foundation for Credit Counseling. To schedule an appointment with a Certified Consumer Credit Counselor contact CCOA at 800.889.4916, or visit CCOA online at
Views expressed are the personal views of the author, and do not represent the views of the National Foundation for Credit Counseling, its employees, its members, or its clients.