Premium Credit email scam

alexsim

Just got an email from Premium Credit telling me my annual statement is ready, I have never heard of or used them before, is it a scam or is someone taking credit out in my name? I have not replied or clicked on any link as I was immediately suspicious. 

pramsay13

Could be either. Does it look genuine, is it well written, mention you by name along with some other identification?
Company looks genuine enough so maybe contact them using their own website contact details and ask. 

CliveOfIndia

Could be either.  The easiest thing is to check the sender's email address - does it look legit?  A genuine email will have an address that ends with premiumcredit.com or similar.  If it's a gmail/outlook/hotmail or similar then it's definitely a scam.

But just to be doubly sure, check all three of your credit reports to make sure there's nothing on them that shouldn't be.

sparks_2023

I had a Premium Credit account for a car warranty and GAP insurance once. There is a genuine company with this name which at least deals with motor finance add-ons.

ellie29608

I also had this email today I checked with my bank they said I had no premium credit set up I reported it

DullGreyGuy

alexsim said:

Just got an email from Premium Credit telling me my annual statement is ready, I have never heard of or used them before, is it a scam or is someone taking credit out in my name? I have not replied or clicked on any link as I was immediately suspicious. 

Premium credit are a genuine company and predominately are used by brokers when you want to pay for your Car or Home insurance in instalments rather than in one go. 

So let's say you buy your £1,000 car insurance from Towergate, as a random broker that uses them, you agree to pay them monthly at £95 per month with a 30% APR. Towergate however has to pay Aviva the full £950 (less their 5% commission) in 28 days even though you've only paid them £95. Some companies dont want or can't afford to do that for every customer and so instead you get a loan from Premium credit, they pay Towergate £1,025, Towergate pays Aviva £950 keeping the £75 commission and you repay Premium Credit £95 a month/ £1,150 in total. 


So... have you got any insurance you are paying monthly rather than annually?

thriftytracey

I just had the email today it looked legitimate.  I was able to login to the portal link on the email but the only credit agreement I had was Pet Insurance back in 2015.  I don't have any insurances that are monthly other than pet insurances and none of them are due.  I wonder if I should contact my bank.  

Annoyingly there is no phone number to contact them Premium Credit.  There is only a chatbot and when I put in the reference number in the email for t his 2015 policy long defunct it said "something went wrong"

I hope it is not identify fraud.

CliveOfIndia

thriftytracey said:

I hope it is not identify fraud.

As per the reply I gave to the OP a year ago, the simplest first step is to check all three of your credit reports, make sure there's nothing on there that shouldn't be.

thriftytracey said:

the only credit agreement I had was Pet Insurance back in 2015.  I don't have any insurances that are monthly other than pet insurances and none of them are due.

So you've still got a pet insurance policy (different from the one in 2015) that you pay monthly?  Have you tried putting the current policy number into their website?  If, as in the OP's case, they're just saying your annual statement is ready, it could be legitimate (i.e. they're not asking for any additional payments).  But obviously, do make sure you're on their legitimate website.

thriftytracey

CliveOfIndia said:

thriftytracey said:

I hope it is not identify fraud.

As per the reply I gave to the OP a year ago, the simplest first step is to check all three of your credit reports, make sure there's nothing on there that shouldn't be.

thriftytracey said:

the only credit agreement I had was Pet Insurance back in 2015.  I don't have any insurances that are monthly other than pet insurances and none of them are due.

So you've still got a pet insurance policy (different from the one in 2015) that you pay monthly?  Have you tried putting the current policy number into their website?  If, as in the OP's case, they're just saying your annual statement is ready, it could be legitimate (i.e. they're not asking for any additional payments).  But obviously, do make sure you're on their legitimate website.

I have checked ClearScore and there is nothing untoward so that is a relief.

I have no annual statements on PremiumCredit.  I have no PremiumCredit "D" numbers on my two current pet insurance policies and no mention of a credit agreement.

So, I expect it was sent out in error.