Premier Account

With tons of benefits including half price home delivery, complimentary brochures and invitations to special events, the Downtown Premier Account is an easy way to shop in our stores. 

To find out more information please see the key explanations below and to find your nearest store to sign up, please click here


Is a Premier Account suitable for me?

  • This is a store card account
  • This account requires you to pay off at least 2.5%  of your account balance each month
  • Interest is payable unless goods are paid for in full (so that cleared funds are received by us) by the 25th day of the month following the month of purchase.
  • It will take a long time to clear a Premier Account balance if only minimum monthly payments are made.  

A Premier Account is therefore not suitable if you want a card that can be used at businesses other than Oldrids & Downtown; if you are seeking interest free credit for a period of months or years or if you will find it difficult to make regular monthly payments to us. This agreement may not be suitable if you are only able regularly to make the minimum monthly payment. 

How much must I pay? 

The minimum monthly payment 2.5% of your account balance shown in your last statement of £5 if this is greater. If your account balance is less than £5 the minimum monthly payment is the amount of your account balance. 

You must pay a greater sum than the minimum monthly payment. You may vary the amount that you pay each month.

The interest rate and the annual percentage rate are shown in the SECCI (this is a separate document which by law we must give you when opening a Premier Card Account - it stands for Standard European Consumer Credit Information) and in the Premier Card Agreement. Click here to view the SECCI.

When opening a Premier Card Account we are required by law to give you certain examples of the total cost of a Premier Card Account but those examples are based on assumptions as to the use of the Premier Card and how you repay your Premier Card account. The actual cost of your Premier Card account will depend on how you manage your account.

Important Features of the Premier Card

 The Premier Card allows you to pay for purchases by the 25th day of the month following your purchase. If you do not do so, interest is payable from the date of purchase. 

Interest continues to be added to your account while there is a balance owing. This means that if your regularly only make the minimum monthly payment it will take a long time to pay off the amount owed. 

If you do not repay the whole amount shown on your statement, interest will be added to the account for the period from the statement date to the date of payment. This will be shown on your next statement. 

What happens if I can't or don't pay? 

If you are having trouble paying, please get in touch. We want to hear from you. We will sit down with you and try to come to some arrangement with you. 

Debt recovery action is very much a last resort. 

If payments are missed, cheques or direct debits dishonoured, you exceed your credit limit or if we have to serve a default notice we will charge administration fees. We will also charge for any expenses we incur in pursuing the debt. Full details are given in the SECCI and the credit agreement. If we have to take County Court action against you, you may a County Court judgement against your name, you will incur fees and costs and we may take steps to enforce that County Court judgement. You and other members of your household and other people who are financially linked to you and them may find their credit records harmed and find it difficult to get credit. 

What happens if I withdraw from the Premier Card agreement and how do I do it? 

You can withdraw from the Premier Card agreement within 14 days of the agreement being signed (in other words if you sign on the 1st of the month then the 15th if the last day to withdraw).

If you withdraw, you must pay the whole balance on your account without delay and in any event by 30 days after you withdraw.

To withdraw, please write to our Customer Accounts Manager, Oldrid & Co. Ltd, Downtown Boston, Grantham Road, Boston, PE21 7NL or telephone our Customer Accounts Manager on 01205 318213.

What if I want more information about the Premier Card agreement?

The staff in our customer accounts department are the experts and they will be happy to help you.