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Do businesses besides lenders and those who issue credit (e.g., retailers) use credit scoring?

Last Updated: March 28, 2008

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Some insurance companies use credit report information, along with other factors, to help predict your likelihood of filing an insurance claim and the amount of the claim. They may consider these factors when they decide whether to grant you insurance and the amount of the premium they charge. The credit scores insurance companies use sometimes are called “insurance scores” or “credit-based insurance scores.”

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