Premium Credit/Policy Expert and Clearscore

rustyboy

Hi All

Ive got a query about my Clearscore account and wondered if anyone can shine some light on it maybe.

I took out Home insurance in May 2022 with Policy Expert and paid monthly, this was done through Premium Credit.

The policy was then renewed in May 2023, except this time I paid in full.

My policy expert account is showing that the May 2022 policy is closed, and the May 2023 is active, which I expected both to be.

However, my Clearscore account is showing as having a loan with Premium Credit, Im presuming this is May 2022, still but s still showing as active.

Normally I’d let it drop off, but I have 3 loans on my credit file now, and if ossicle, try to get ths old one taken off if that’s what it still is.

I wouldn’t have thought that me paying my Home Insurance in full would constitute a loan though, but happy to be corrected on this.

Has any one else had this or similar? Any tips would hope me solve this.

MorningcoffeeIV

rustyboy said:

Normally I’d let it drop off, but I have 3 loans on my credit file now, and if ossicle, try to get ths old one taken off if that’s what it still is.

I wouldn’t have thought that me paying my Home Insurance in full would constitute a loan though, but happy to be corrected on this.

If you're not paying in full upfront and therefore taking credit to pay monthly (usually paying more to do so), it's a loan.

Assuming it's not showing any balance, it's not an issue.  Focus on getting the other loans paid off instead.

rustyboy

Thanks. I rang them in the end. 

The account wasn’t closed as I renewed so they mata why it’s still on my credit file. One of the others is due to drop off to as I also closed that account. Slow at their end.