New Year’s Day? You might think that the only significance of the day lies in the fact that you officially get to hang up the 2020 calendar you bought at the SPCA or start doodling on the monthly blotter you were given by that pesky rep from the company who wants to buy your good graces.
How is your credit rating determined? Your Credit Bureau score is calculated using a formula that evaluates how well or how badly you pay your bills, how much debt you carry and how all of that stacks up against other borrowers. The lower your scores, the less you stand a chance of obtaining a loan or other financing.
The recipe used by the majority of insurance companies is one which enables the agent (called a seller) to earn a commission for each policy sold. This is how they make their money so that they can eat. This commission is paid in differing amounts – the first helping is the biggest, followed by regular, smaller ones for the duration of the lifetime of your policy.