# Fairway Credit



## Fish (Jul 18, 2017)

Our annual subscriptions are due from the 1st August, as such I have just received my invoice for Â£1,537.00.

I've always paid via standing order but it would seem that there's a new regulator and golf clubs aren't able to do this now under new FCA regulations.

So if we want to spread our subscription over the year we must go through Fairway Credit and fill in an application form available through the club.

Anyone already using this scheme?

Is this a credit application to which a search takes place on me?

The cost of the credit over 11-12 months is 6.9% (13.2% APR. We used to be charged Â£35 I think for admin for using a standing order, if this percentage is now on the full total of credit that will treble to over Â£100!

Anyone else come across this being introduced as golf clubs apparently are no longer able to offer standing orders/direct debits for their subscriptions.

http://www.premiumcredit.co.uk/about/news/fairway-credit/

http://www.premiumcredit.co.uk/annual-non-insurance-fees/sports-leisure/golf-club-membership/


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## DCB (Jul 18, 2017)

Not heard of any problem with paying a club direct by DD.  I certainly wouldn't be keen on using a 3rd party like that. No idea if they do a credit search, but, I'd be surprised if they didn't.


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## anotherdouble (Jul 18, 2017)

Yes Robin they will do credit agency searches and a stamp is left on your record whether you proceed with the agreement or not


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## Bazzatron (Jul 18, 2017)

I'd be whacking it all on an interest free credit card instead, and then setting up a DD to pay that off.


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## karlcole (Jul 18, 2017)

My
Club has just started direct debit this year. Never heard of the issue regards FSA


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## fundy (Jul 18, 2017)

Club just needs to offer monthly payments rather than calling it a credit agreement, the difference is they cant charge you extra this way whereas they can using Fairway credit

13% APR is just profiteering imo


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## Lincoln Quaker (Jul 18, 2017)

Clubs can only do there own in house direct debit scheme if they have a CCL. Some are still doing it unlicensed but its a ticking timebomb if they are caught.

Most clubs don't and therefore use alternative agencies that have the CCL and are all FCA regulated.

We gave our CCL up 2 years ago as it was becoming a right pain in the backside.

Fish, if you want to know anything more send me a txt as we use fairway credit all the time for those members that wish to pay monthly.


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## Lincoln Quaker (Jul 18, 2017)

karlcole said:



			My
Club has just started direct debit this year. Never heard of the issue regards FSA
		
Click to expand...

I hope not as they are the food standards agency


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## DRW (Jul 18, 2017)

http://www.thegolfbusiness.co.uk/20...heme-now-exempt-from-the-consumer-credit-act/

https://www.gcma.org.uk/news/financial-conduct-authority-credit-rules-update/


Some details here, a fairly complex area really(looked at it for my business over the years) and can understand clubs not doing it themselves.


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## mashleyR7 (Jul 18, 2017)

karlcole said:



			My
Club has just started direct debit this year. Never heard of the issue regards FSA
		
Click to expand...

FCA these days. 

I've used Fairway credit at Ashford my previous club. Simple, easy, hassle free way to pay the monthly payments, never had an issue with them, never worried about at stamp on my file as my credit rating is 100% perfect. Yes, you pay an extra charge for the privilege but for me it's all sorted in one set up. If I went down the 0% credit card route I'd worry that I wouldnt be disciplined enough to pay it all back in the 12 months so steered away from this.


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## Junior (Jul 18, 2017)

Fish said:



			Our annual subscriptions are due from the 1st August, as such I have just received my invoice for Â£1,537.00.

I've always paid via standing order but it would seem that there's a new regulator and golf clubs aren't able to do this now under new FCA regulations.

So if we want to spread our subscription over the year we must go through Fairway Credit and fill in an application form available through the club.

Anyone already using this scheme?

Is this a credit application to which a search takes place on me?

The cost of the credit over 11-12 months is 6.9% (13.2% APR. We used to be charged Â£35 I think for admin for using a standing order, if this percentage is now on the full total of credit that will treble to over Â£100!

Anyone else come across this being introduced as golf clubs apparently are no longer able to offer standing orders/direct debits for their subscriptions.

http://www.premiumcredit.co.uk/about/news/fairway-credit/

http://www.premiumcredit.co.uk/annual-non-insurance-fees/sports-leisure/golf-club-membership/

Click to expand...

Our's went the same way this year Fish.  If you wanted to pay via 12 month direct debit, then you had to do it via a 3rd party company (fairway credit) and there was interest.  This is due to needing a license and having to be regulated by the Financial Services Authority or something like.     However, we were given the option that, if we paid over 6 months, there was no interest and the club was allowed to do this without the need for a third party . (not sure why).


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## fundy (Jul 18, 2017)

Junior said:



			Our's went the same way this year Fish.  If you wanted to pay via 12 month direct debit, then you had to do it via a 3rd party company (fairway credit) and there was interest.  This is due to needing a license and having to be regulated by the Financial Services Authority or something like.     However, we were given the option that, if we paid over 6 months, there was no interest and the club was allowed to do this without the need for a third party . (not sure why).
		
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they can do it for any period less than 12 months as long as they dont charge for it, your club obviously didnt want the cashflow issues spreading over 12 months but could absorb spreading it over first 6 months, the crux is clubs want to charge to do this hence the requirement to use an external licensed company


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## tsped83 (Jul 18, 2017)

Â£1537!!!? Where do you play? Yikes.


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## GreiginFife (Jul 18, 2017)

The driver for this is how the club want (or need) the money and when. Using a CCA registered credit provider means the club get the money upfront and you owe the credit provider (and the agreement is nothing to do with the club and they can be arms length of it).
The club CAN offer instalment payments as long as they do not call it, refer to it as or imply that it is a credit agreement (where he club is openly fronting the funds in lieu of payment) this would need a formalised agreement and this is where the new FCA refs kick in. 
If the club was to just state that the payments were to pay a "future balance" and each payment is aggregated to that balance (not deducted from as this would be credit again) then it would circumvent the rule. Few are willing to do that though as they mostly want the full funds in the club coffers asap. Easiest way is to deal with a CP. The CPs don't work for free and so charge a fee in the form of interest. 

I think the days of clubs being able to work month to month on trusting people will pay and not just walk away are gone or at least fading fast. 

Cost to become CCA is prohibitive to most clubs.


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## patricks148 (Jul 18, 2017)

a few clubs Ive been a member of have all done the spread payments this way. I thought about it when i was a member of 4 clubs and all the fee's were due on the 1st Jan.So did as someone else suggested, put them all on a IF Credit card and paid it off that way.


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## karlcole (Jul 18, 2017)

Haha my mistake, they would have a field day at my place &#128514;



Lincoln Quaker said:



			I hope not as they are the food standards agency 

Click to expand...


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## BrizoH71 (Jul 18, 2017)

I've used Fairway Credit for the past four years at both my former and current club; there has been no credit check appearing on my file for any of those periods.

After the initial application it just auto-renews each year, i've never had to do anything other than to tick a box on the digital credit agreement they send me at the start of each season.


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## brendy (Jul 18, 2017)

Our place has been using them for years. It does a credit check but I've never heard of anyone being refused and it does auto renew each year with no bother. Interest wise it does whack on the equivalent of 1 months subs in interest which isn't great.


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## chrisd (Jul 18, 2017)

My club use Fairway Credit and it's the only way to spread the payments they offer. I always pay in full and save the charges


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## Bunkermagnet (Jul 18, 2017)

My club uses them. The club gets the full fee straight away which allows them to budget better. Personally, although having used Fairway credit before, I now pay mine in 2 lumps each year.


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## backwoodsman (Jul 18, 2017)

At ours, those who want to pay by installments just do it by x9 direct debit payments straight to the club.  First in Feb, last in October.  No interest or admin fees. From what folk have said in earlier posts, l guess the 9 payments is so as to avoid getting embroilled in the credit agreement business.

I suppose there's always a risk that some folk could walk away after a couple of months and not bother to pay the balance - but they donâ€™t seem to.


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## quinn (Jul 18, 2017)

Fish said:



			Our annual subscriptions are due from the 1st August, as such I have just received my invoice for Â£1,537.00.

I've always paid via standing order but it would seem that there's a new regulator and golf clubs aren't able to do this now under new FCA regulations.

So if we want to spread our subscription over the year we must go through Fairway Credit and fill in an application form available through the club.

Anyone already using this scheme?

Is this a credit application to which a search takes place on me?

The cost of the credit over 11-12 months is 6.9% (13.2% APR. We used to be charged Â£35 I think for admin for using a standing order, if this percentage is now on the full total of credit that will treble to over Â£100!

Anyone else come across this being introduced as golf clubs apparently are no longer able to offer standing orders/direct debits for their subscriptions.

http://www.premiumcredit.co.uk/about/news/fairway-credit/

http://www.premiumcredit.co.uk/annual-non-insurance-fees/sports-leisure/golf-club-membership/

Click to expand...

I always thought hearsall and finham were about the same price, hearsall use fairway credit and it's Â£120 per month over 10 months, seems a bit steep mate


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## Fish (Jul 18, 2017)

quinn said:



			I always thought hearsall and finham were about the same price, hearsall use fairway credit and it's Â£120 per month over 10 months, seems a bit steep mate
		
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Firstly they shouldn't be the same price as Coventry's Course and facilities are far superior, and I mean that with no disrect to Hearsall. 

That total includes my Â£150 bar card, Â£40 locker & Â£100 garage for my trolley & bag wich I charge my battery & GPS in, plus golf union fees, so it's actually Â£1200 which then compared to Hearsall is excellent value ðŸ˜‰


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## quinn (Jul 18, 2017)

Fish said:



			Firstly they shouldn't be the same price as Coventry's Course and facilities are far superior, and I mean that with no disrect to Hearsall. 

That total includes my Â£150 bar card, Â£40 locker & Â£100 garage for my trolley & bag wich I charge my battery & GPS in, plus golf union fees, so it's actually Â£1200 which then compared to Hearsall is excellent value ðŸ˜‰
		
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We looked at finham, but I think I made the right choice, nice course though, it should be for that price ðŸ˜‚


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## HomerJSimpson (Jul 18, 2017)

Pay every year by DD and think it's via Fairway Credit. Always been very happy with the arrangement


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## HDID Kenny (Jul 18, 2017)

Fairway Credit is an option at ours, I choose to pay DD 1 year in advance (9 equal payment with the 10th including an extra over of agreed annual subs) means I can take a year out if I wish. Works for me.


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## Liverpoolphil (Jul 18, 2017)

If your club is on IG then they can run the DD for your annual subs without the need to use Fairway Credit


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## Fish (Jul 19, 2017)

quinn said:



			We looked at finham, but I think I made the right choice, nice course though, it should be for that price ðŸ˜‚
		
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Hmm, you said your paying Â£120 over 10 months, that's the same as Coventry, the extras are my personal choice for the garage & locker and the Â£150 bar tab is gone in a month, easily, so based on the course fees alone, Coventry, if your paying Â£1200 is better value imo.


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## Fish (Jul 19, 2017)

Liverpoolphil said:



			If your club is on IG then they can run the DD for your annual subs without the need to use Fairway Credit
		
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Yes we are on IG, but it looks like this is a done deal.  It would seem they've used the facility before some years ago, so what would be good is to know why they moved away from it?


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## Oddsocks (Jul 19, 2017)

Lads.... IG?


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## Fish (Jul 19, 2017)

Oddsocks said:



			Lads.... IG?
		
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Intelligent Golf, a system better than HDID (System 2000)


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## Oddsocks (Jul 19, 2017)

Got ya


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## SwingsitlikeHogan (Jul 19, 2017)

My club uses Fairway Credit - we considered doing it ourselves but my understanding is that we felt there is just too much involved in keeping the FSA etc happy.


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## Khamelion (Jul 19, 2017)

MY club used to do standing orders, but rules changes and the club saying it was to much admin for the club staff, they moved to using direct debit. We now have the choice of paying up front in one go, or we can spread the payments over 12 months which is paid direct to the club. The club does not use any kind of credit agency.


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