Credit agreement-car insurance

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MsM wrote: »

I called my insurer to cancel de DD and pay in full. Not possible, since aparentely I already agreed to this contract and I've should have paid attention !
I'm fuming.[€/QUOTE]

i'm sure the CCA agreement will say somewhere you can pay it off all in one go early, obviously interest charged will be for the time on cover up until you end the agreement. there was a new EU law which updated the consumer credit act recently. i'd talk to another advisor and persist in paying off the balance in full. make sure they don't charge you the full annual interest if you pay early.

dunstonh

Dacouch beat me to it.

The £1500 is like a floor limit. Could you imagine if they had to credit score every single car insurance application? With a pre agreed limit, it is a lot quicker and simpler.