Increase in the Default Charge

What are your charges?

If you miss a payment, fail to return your signed Credit Agreement in a timely manner, or wish to change your monthly payment date, we will charge you for Read more...

How can you impose the charge without me signing a new credit agreement?

We have the right to change our charges at any time providing we give 30 days’ notice; see Section B.4.5 of the Credit Agreement. Still have a Read more...

Will this affect my credit score?

The increase in default charge will not have any effect on your credit score, but we will continue to report any missed payments to Equifax.   Read more...

Why is the default charge being increased?

The increase in the default charge reflects the increase in the additional costs we incur when you miss a repayment. Those costs include: stationery, Read more...

How do I discuss this change?

Please visit https://www.premiumcredit.com/default-charges for more information.   Still have a question? For any queries regarding your Read more...

How will the change take place?

We will be increasing the default charge 30 days from the date we communicated the change to you.   Still have a question? For any queries regarding Read more...

What is the impact to me?

Any missed repayments after the 2nd December 2019 will be charged £27.50. Prior to that date, the charge will remain at £20.   Still Read more...

How was I notified of this change?

We sent the correspondence to your registered email account. If no email address was given, a letter was sent to you Still have a question? For any Read more...

Where in the Credit Agreement does it state that charges can be increased?

Section B.4.5 of the Credit Agreement states that "we may vary any of the other fees or charges that you may have to pay (under Clause B.3) by giving Read more...

Why has my broker/service provider not communicated this change to me?

This is a Premium Credit charge arising under your credit agreement with us, so the communication comes from us. Your broker/service provider has already Read more...