Citibank then Opus now progressive credit limited

Ed_from_beds

I had the same letter today, I rang cccs as am setting up a dmp at the moment, cccs had not heard of pcl or their address. Have to waitband see where this one goes...

Ed_from_beds

Progressive Credit Limited

With effect from 31 August 2011 your Opus credit card agreement will be between you and Progressive Credit Limited. We have compiled a least of frequently asked questions and answers should you have any queries about this change:!
1.!Who is Progressive Credit Limited?

Progressive Credit Limited is regulated by the Financial Services Authority (FSA) principally for the issuance of credit cards.
2.!Is Progressive Credit Limited a Debt Collection Agency?

No, Progressive Credit Limited is a card issuer.
3.!Is Progressive Credit Limited a “sub prime lender”?

No. Progressive Credit Limited issues cards to a wide spectrum of customers.
4.!Has my account been sold?

Your account has not been sold. Your account has been assigned to Progressive Credit Limited under Progressive Credit Limited’s licence with the FSA.
5.!Why has the Opus Card moved from Bank of Scotland to Progressive Credit Limited?

As you were previously notified CC Asset Management Limited (CCAM) was the purchaser of the CitiCard portfolio, this has not changed. However, to effect a more efficient regulatory structure your account has been assigned to Progressive Credit Limited.
6.!Is anything changing on my account?

Any changes to your terms and conditions were listed in the letter you were recently sent. Aside from this your charges, interest rates and other terms and conditions remain unchanged.
7.!What other brands is Progressive Credit Limited associated with?

Progressive Credit Limited is not associated with any other brands at this time.
8.!Is Progressive Credit Limited governed by FSA Regulations?

Progressive Credit Limited is regulated by the Financial Services Authority (FSA), the Office of Fair Trading (OFT) and the Financial Ombudsman Service (FOS) and also subscribes to other applicable codes of conduct.
9.!Do I need to make any changes to my Direct Debit or existing payment arrangements?

No. You do not need to make any changes; your payments will still be collected from your account in accordance with your instruction.
10.!Can I still make payments over the counter at LBG branches?

Yes. There have been no changes to the way customers can make payments to Opus. You can continue make your payments in the usual way.
11.!I have already made a payment to Opus, will that be delayed?

No. There have been no changes to the way customers can make payments to Opus. Your payment will reach us as it normally would.
12.!I am on a payment arrangement, is that affected?

No, this is unaffected. You should continue to make payments in accordance with your payment arrangement with Opus.
13.!Do I need to update any Continuous Payment Authorities (e.g. AA, Sky)?

If you needed to activate your new card it will be necessary to update any Continuous Payment Authorities with your new card number as some of the details on your card will have changed.
14.!How do I tell which is the old card and which is the new card?

Your new card will appear very similar to your existing card. On the reverse of your new card it will now state that your card is issued by Progressive Credit Limited rather than Bank of Scotland Plc to reflect the change of licence Opus falls under.
15.!Will my existing PIN number work with my new card?

Yes. Your PIN will remain the same.
16.!When is my new card valid from?
Your new card is valid and ready to use as soon as you receive it. Some customers have been asked to activate their cards prior to use. You will have been notified in the correspondence if this is the case.
17.!Will my old card still work and if not when will it cease working?

Your old card will cease to work so as soon as you receive your new Opus Card you should securely destroy your existing card. Please be sure to destroy the correct card. Your new card will state that your card is issued by Progressive Credit Limited on the reverse of the card.
18.!Will my card number and account number be changing?

Your account number will remain the same. In most cases the card number will also be unchanged, but if you were required to activate your new card it will have a new card number and you will need to amend any Continuous Payment Authorities you have setup.
19.!Is my new card equipped with contactless technology?

No. Contactless technology is not a feature supported by Opus at this time.
20.!Am I able to increase or decrease my credit limit?

You can request changes to your credit limit at anytime.
21.!Will you be changing my credit limit?

Your credit limit has not changed. As with all card providers we reserve the right to review your limit and increase or decrease it in the future.
22.!Will you be changing my interest rates?

Your interest rates have not changed. As with all card providers we reserve the right to change your rate in the future, up or down. However, we will always communicate this intention in writing and give you at least 60 days notice.
23.!Will I lose my promotional rates?

No. Any promotional rates you previously enjoyed with Opus will remain with your new Opus Card provided your account is maintained in accordance with the terms and conditions of your credit agreement.
24.!Am I able to add an additional cardholder?

No. The Opus product is not open to additional cardholders at this time.
25.!Can I have a Visa card rather than a MasterCard?

No. Opus is only available on the MasterCard scheme.
26.!Why didn’t I get sent a new card? Can I have one?

Some customers will not be getting a new card due to inactivity; for example the account may not have been used since the transfer from Citi last year. It is common practice across lenders not to reissue cards to inactive accounts.
27.!Is!my account changing owners again?

No. The licence that Opus operates under is changing from Bank of Scotland to Progressive Credit Ltd. As such new cards need to be issued to reflect this change.
28.!Can I opt out of this change?

No. All Opus accounts are being moved to Progressive Credit Ltd.
29.!Can I close my account?

Provided that your account balance is at zero with no pending transactions or charges, your account can be closed.! If you have a balance on your account and still wish to close your account you can do so but in line with your credit agreement you must continue to pay off the outstanding balance.
30.!Can I stay with Bank of Scotland?

No. All Opus accounts are being moved to Progressive Credit Ltd.
31.!Will you be changing my Terms and Conditions?

Your Terms and Conditions will remain the same with the exception of the details showing the licence under which your account is operated. No other terms are being amended as a result of this change.
34.!Is my debt still enforceable?

Yes. The status of your credit agreement has not changed and you should continue to maintain your account in accordance with the terms and conditions of your credit agreement.

scrooge171

According to companies house webcheck a new company last year.

Hope they remain solvent next year so they have enough to pay my current cashback deal.

claire16c

I had an AA airmiles citibank card, then when that stopped I got changed to Opus, so I rang up and cancelled the Opus card as it was useless to me.

I got a letter saying my account was closed. Then I got that letter saying it was changing to progressive and being closed. I already closed it! Seems they just sent the letter out to everyone.