Progressive Insurance credit score

Anonymous · ‎06-20-2007

A little while ago there was a discussion about the different kind of scoring that insurance companies do to determine your rate. I thought some might find the information they showed as positive/negatives and neutrals might help since some of these really surprised me...

Favorables:

Most recent reported car loan or lease opened at least 4 years ago (going to change with new car!)

Only two credit inquiries in the past 24 months

Revolving account balances total 10 -19% of available revolving credit

More than 5 years of reported credit history

Open loan and account balances total less than 95% of total available credit

2 or fewer loans or accounts opened in past 12 months

No bank revolving account opened in the last 4 months

Unfavorable

2 loans or accounts with satisfactory current payment status (are they saying I need more?)

1 or more installment loans in collection, default, repossesion, foreclosure or charge off

Earliest reported account or loan opened after age 25

Collection, default, reposession, foreclosure or charge-off withing the past 12 months (thank you EX for the new charge off date)

Neutral

History of 1 or more accounts with payments past due more than 30 days (I guess thats because these are old accounts)

Anonymous · ‎06-20-2007

Princess,

Did you get this from Progressive or know that they used this when quoting you rates?

Anonymous · ‎06-20-2007

After I got my quote they had a link on the side of the page that said something about my credit rating(or score something like that.) When I clicked on it it can up with a page that said Progessive uses credit info in addition to other information to determine your rate. They show you a bell curve with where you fit into the curve and then show you your positives and negatives. I printed it out so I could pass it on here.

MidnightVoice · ‎06-20-2007

https://onlineservice1.driveinsurance.com/interact-cgi/rc/insterm/rcinscredit.asp

try that link for proressive info

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

Anonymous · ‎06-20-2007

Thanks princessofpink and MidnightVoice for the info

In fact the reason my auto insurance score dropped was because I was building more stronger credit.

Message Edited by ilovepizza on 06-20-2007 12:32 PM

Anonymous · ‎06-20-2007

I'm dropping Progressive as my carrier. That explains by my rates went through the roof! Well, I've bailed on them and saved a ton of money....

jandj · ‎06-20-2007

Allstate has been wonderful to me and has dropped my rate 3 times since I started with them! I recommend!

Anonymous · ‎06-20-2007

Do you mind my asking who you decided to go with that saved you money?

Rocket01 wrote:
I'm dropping Progressive as my carrier. That explains by my rates went through the roof! Well, I've bailed on them and saved a ton of money....

Anonymous · ‎06-20-2007

I just bailed on Progressive after they continually jacked my rate for no reason, and I've NEVER filed a claim with any insurance carrier. I went from $1700 for 6 months down to $600 for 3 vehicles.

fused · ‎06-20-2007

Ahhh...I am so happy my state (Hawaii) passed legislation that prohibits insurance companies from pulling credit.