Premium Credit Ltd - www.premium-credit.co.uk

I am deeply dissatisfied with Premium Credit's lack of accountability and transparency regarding the substantial increases in my insurance premiums. Despite being a loyal customer for over a decade, their inability to provide a reasonable explanation or facilitate communication with the insurance supplier, HOOD GROUP LIMITED, leaves me feeling frustrated and unsupported. It is disappointing that a company I trusted to manage my financial transactions is unwilling to address my legitimate concerns, and I would caution others to think twice before entrusting them with their insurance payments.

I was paying in installments and requested timing of first Direct Debit payment and 4 days later no reply.

I then went on line to sign my credit agreement with Premium credit which only involves entering agreement number from mail and DOB - it keeps coming up with error and requests I call them - another lost hour no doubt.

Only good thing was I found the installment timing in one of the Premium Credit emails

**READ THE SMALL PRINT** As this company is just interested in taking your money and looking for ways to add extortionate fees and penalties even when it is their fault.

I changed banks, updated my DD bank details 10 days before they were due to take their next payment and their system couldn't even deal with that much notice. They tried to take the payment from the old details and because it didn't go through they charged me a £27.50 penalty fee.

Now any normal and fair company that cares about its customers would accept the mistake and take off the penalty but instead, when I called up I got an adviser who initially was helpful and confirmed I had in fact done everything I should have and 10 days was plenty of time for the change to happen on their system. However, when I then asked for the penalty to be removed he just started reading from his script (when he wasn't talking over me), not actually listening to my explanation and just started repeating "Sorry, there is nothing I can do as we can't just let off everyone that calls up". He then told me it was my banks fault and I had to try and get the £27.50 back from them. Although confirmed that this fee was absolutely a Premium Credit penalty fee and nothing to do with the bank.

The difference is these people don't have to care about individual customers as their clients are the big companies we purchase from and so they don't have to listen to us or offer reasonable or fair customer service as it won't affect their business.

So, if your insurance company (Arch Insurance for me on this occasion) say they will be setting up your monthly payment plan using Premium Credit then walk away or ask them to use someone else as it will cost you a lot more than the DD quoted if they get half a chance to sting you. Put simply, you can wave goodbye to having a professional, customer-focused company on your side.

I have two bank accounts that I use...one for main money....the other for direct debits...the main money account transfers into my direct debit account. I messed up and forgot to transfer sufficiant funds. Premium credit lashed me with a £27.50 fine taken by direct debit and also collected the payment of my premium which was £24.70

they took both payments on the same day.

I have complained but they are satisfied because they got an extra £27.50 out of me.

As a result I have been forced to close down my policy with them. They are over the top customer unfriendly and faceless.

I would never use this company, sometimes you don't have a choice as they are on the back end of many monthly payments services like insurance etc.

They are just money grabbers. In it for the money and want to make as much as they can out of banking mistakes that may happen, missed payments whilst changing bank accounts etc.

If I find out any insurance company uses them, I will just go to another company who doesn't. A lot of companies use Close Brothers and I will ensure I use the companies who use them.

We bought a static caravan and used this company to pay site fees. They charged us a late fee £27.50 the day we set it up. Said they'd refund it. They didn't.

Took £100 too much on DD. Recalculated the fees for the next 9 payments. To take into account the extra payment. Not happy. But they refused to refund the £100.

Another payment out my bank today guess what another £100 too much. As far as I'm concerned they are now inbreach of the DD and I'm cancelling it. Avoid this company. They behave dishonestly.

I would like to warn people about Premium Credit.

They use the disgusting practice of hiding any contact details to allow people to cancel within the 14 day period which is enshrined in contract law if you have agreed a 'loan' over the telephone or online. This includes spreading insurance payments monthly. In my case, home insurance.

They advise you to register, then login, then to go to Customer Agreements in order to cancel. But when you navigate to Customer Agreements, there IS NO OPTION TO CANCEL (grrr!)

Their email address communications@pcl.c*.u* (the one they use to send you your agreement) is, astonishingly, not a communication email but a No-Reply email. In fact, you have to jump through hoops to find any way to contact them.

There is no phone number on their website.

There is no email address on their website.

The only email you see is for FEEDBACK on the website, which is to disguise the fact that it is, in fact, the email you WOULD use to cancel any policy you have taken out online or over the phone, when you have the legal right to cancel within two weeks.

It really makes me furious.

Had premium credit agreements for years now missed a payment, I realise I was lulled into a false sense that they are a good company, I mistakenly let my balance drop too low on 27th Aug so missed a payment, had a threatening letter from them, solicitors action etc etc if the money isn't there when they try and take the payment on 8th Sept plus a £27.50 charge I have made a mental note to never deal with companies again who use premium credit (and I have used them for at least 10 years never missed a payment) shame on you Premium Credit!