In a page straight from the bank credit card industry, Progressive has instituted a new way to rip off customers. During the past year I opened an overdraft protection for my checking account as a precaution against outrageous bank fees should some mistake ever occur in my account. This overdraft protection has never been tapped and is limited to $3000. Progressive used this new "revolving line of credit" to raise both my motorcycle rates and RV rates. The RV rate increase was 28%. They claim anyone who opens any revolving line of credit for any reason presents a higher claim risk and the state of Montana allows this. I can't believe this. An actual credit score would be a better measure but then they probably wouldn't be able to trap as many people in this loophole. As usual with big companies, my complaints fell on deaf ears.
Be careful with this one folks. Any time you might be in a department store and the nice lady says "10% off your purchase today if you open an account with us" or you find a new lower rate credit card, you just became a more dangerous driver and raised your insurance rates. Oh yeah, I asked them if I closed that account, would my rates revert back, no such luck, chump.
Any good lawyer out there looking for a good class action?
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