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, postage and telephony systems, staffing and maintaining our contact centre, so that we can provide advice and information to customers in relation to missed repayments and take payments by alternative methods.

Premium Credit continue to evaluate the cost to our business, of a customer defaulting on a repayment. The charge is purely to cover Premium Credit’s cost of recovery of the late repayment and we do not make a profit from this action.


Still have a question?

  • For any queries regarding your credit agreement please call us using the call button at the bottom of this answer*.

When calling us:

  • Please have your Credit Agreement reference number (which starts with a D) to hand, so that we can help you as quickly as possible.
    • Your Credit Agreement reference number can be found on your welcome letter as well as on your online account.

*Telephone lines are open Monday to Friday from 8am to 6pm (excluding bank holidays)


Please note:

We are only able to discuss information pertaining to your credit agreement.  For any queries relating directly to your insurance policy or other service, please contact your service provider directly. 


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