Approval: Applications may be subject to an ‘affordability assessment’ and in that respect the lender may contact any applicant direct to make further enquiries. Credit is subject to status, and they may use a credit reference agency that leaves a record of the search or other information about you to conduct credit and anti-money laundering check. This record will be visible to third parties.

If your credit application to Premium Credit is approved, you will receive your information pack within the next 14 days. You will find your monthly repayment schedule in your information pack. Please read the pack carefully to ensure you understand the terms and conditions and it is right for you. You can make a full or partial repayment at any time subject to the terms in the Credit Agreement.

Transaction Fee: The Premium Credit Transaction Fee is a fixed charge and no element of it is refundable if you cancel your agreement after the 14-day cooling off period.

Chaser Fee: If you are happy to proceed with the credit agreement, please make sure you sign the Credit Agreement as soon as possible. This can be done online. A £25 charge will be incurred if Premium Credit are required to write to you to remind you to sign your credit agreement.

Default Fee: The first collection will come out of your bank account within 14 days and on the same date each month after that as your inception/renewal date. If you fail to make your required monthly repayment on time, Premium Credit may charge you a £25 default fee. For unregulated credit agreements (typically loans to business customers) this fee is £120. Failure to bring your repayments up to date could result in your agreement being cancelled.

Premium Credit Ltd are a third-party finance provider. If your application for credit is successful, they will pay for the cost of your insurance in full and you will be obliged to repay this credit by monthly direct debit.


Our search for a product has involved a limited number of lenders. Primarily we look at the rates and terms offered by Premium Credit Ltd. We compare these with your Insurance Company's rates. If your insurer has a payment facility on more favourable terms, we will provide this option to you.

Premium Credit Ltd will appear on your bank statement against the Direct Debit. You will be given 5 working days notice if there are any changes to the date, amount, or frequency of your Direct Debit payments.


If you do change your mind you can withdraw from the credit agreement free of charge within 14 days by contacting us. Any repayments you have already paid will be refunded and you will have to find an alternative way to pay for your insurance. If you cancel after 14 days, you may have to repay any money owed to Premium Credit.


Please note we are acting as credit broker not a lender. Premium Credit is the lender. We may receive a commission for introducing you to them.


All direct debits are protected by a guarantee, which is shown in the paragraph below. It will also be printed on the confirmation letter from Premium Credit Ltd:


Direct Debit Guarantee

The Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits.

If there are any changes to the amount, date, or frequency of your Direct Debit the organisation will notify you (normally 10 working days) in advance of your account being debited or as otherwise agreed. If you request the organisation to collect a payment, confirmation of the amount and date will be given to you at the time of the request.


If an error is made in the payment of your Direct Debit, by the organisation or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society.


If you receive a refund, you are not entitled to, you must pay it back when the organisation asks you to. You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify the organisation.


In the event of an error, you are entitled to request a refund from your bank or building society. You have the right to withdraw the credit agreement within the 14-day cooling off period. A copy of the safeguards under the Direct Debit Guarantee will be sent to you with your confirmation letter from Premium Credit.