If I miss a monthly installment payment, will it affect my credit score?

Policy Expert is registered as a Credit Broker with the Financial Conduct Authority and we arrange monthly installment payments with the lender Premium Credit, subject to your credit status. 

Prior to a policy being set up, we inform you that we will share your data with Premium Credit, and they may carry out credit, affordability and/or anti-money laundering checks on you. Should you miss a payment during your policy term, this may also be reflected on your credit score. 
 
If a payment is unsuccessful, it will be re-attempted a few days later. A £27.50 'missed payment' charge will also be payable to Premium Credit, which will automatically be added to your next successful payment. 

 

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