It is no secret that insurers use your credit information to judge you, but you may be amazed by how many types of credit information they use.

Most companies that use credit information use an "insurance credit score." An insurance credit score is calculated using information about your credit history. Many insurers penalize recent history more heavily than old credit history. The factors used in many scoring models are:

- Public records (such as bankruptcy, collections, foreclosures, liens, and charge-offs). Public records generally lower your insurance credit score.
- Past payment history (the number and frequency of late payments and the days between due date and late payment date). If you have not paid your bills on time, your insurance score will go down.
- Length of credit history (the amount of time you've been in the credit system). A longer credit history tends to raise your insurance credit score.
- Inquiries for credit (the number of times you've recently applied for new credit, including mortgage loans, utility accounts, and credit card accounts). Shopping for new credit tends to lower your insurance credit score.
- Number of open lines of credit (including the number of major credit cards, department store credit cards). Having too much credit tends to lower your score. However, it generally is not a good idea to cancel a credit account that you have had for a long time. A long credit history helps your score.
- Types of credit in use (such as major credit cards, store credit cards, finance company loans, etc). Generally, major credit cards are treated more favorably than other types of consumer credit.
- Outstanding debt (how much you owe compared to your total available credit). Too much outstanding debt tends to lower your score.