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MyCommute4Less in action

2.5% fare rise could mean monthly Travelcard commuters spending nearly £4,000[1] in 2015
Commuters can save over £400 by buying an annual Travelcard with MyCommute4Less before 31st December 2014

London, 16th December 2014 – With the TFL fare rise of up to 2.5% coming into effect on January 2nd 2015, new money-saving brand for commuters, MyCommute4Less, is urging commuters to beat the rise for a whole year by buying an annual travelcard before the end of 2014.

An annual Travelcard for zones 1-9 bought this side of Christmas will cost £3,256.00. A week later it will cost £3,336.00[2]. If a commuter opts for monthly Travelcards their annual budget in 2015 will be nearly £4,000. But for the 1 in 5 who already buy a monthly Travelcard[3], MyCommute4Less means they can make a significant saving[4] on their 2015 commute.

“Not many London commuters will have over £3,000 to beat the January 2nd fare rise”, especially with all the additional pressures on budgets at this time of year”, explained Roger Brown of MyCommute4Less. “Which is why we have launched this new service. Tackling the costs of travel in London, MyCommute4Less enables commuters to benefit from an annual Travelcard without having to find 12 months money up-front.”

MyCommute4Less provides an easy to use and fair solution for commuters by financing the cost of an annual Travelcard which is paid for over 10 months – in effect giving them two months of non-payment at the end of the year. Plus the cost is much less than buying 12 monthly Travelcards.

“Annual Travelcards can save commuters hundreds of pounds”, continued Roger Brown. “They give 52 weeks of tube, rail and bus travel for the equivalent cost of buying just forty weekly Travelcards, and not much more than 10 monthly cards. But with 92%[5] of London commuters not opting for an annual Travelcard, the difficulty in finding the cash upfront is clearly a real barrier to these savings. MyCommute4Less lets London workers spread the cost – to make the most of the savings - as well as get access to all the additional benefits that come with an Annual Travelcard, such as discounted rail fares and other travel offers.”

Working with, a commuter’s annual Travelcard is loaded onto a new Oyster card when they sign up with MyCommute4Less. The customer makes ten manageable monthly payments. MyCommute4Less charges a Transaction Fee which is the equivalent of 5% on the cost of an annual Travelcard (equivalent to an APR of 9.5%) %) which is more cost-effective than most bank loans[6]. Even with the MyCommute4Less Transaction Fee, commuters will still be saving compared to buying a weekly or monthly Travelcard.

“MyCommute4Less is a straightforward and transparent initiative which potentially offers London rail, tube and bus users considerable savings over monthly, weekly or daily costs – without having to find the cash up-front”, continued Roger Brown. “And with 70%[7] of London commuters admitting that they will have to make some sacrifices to be able to afford the 2015 fare rise it could make a real difference.”

Please feel free to use this image of MyCommute4Less in action.


For further information please contact the MyCommute4Less Press Office: HSL – Wendy Harrison, Hannah Talbot or Laura Welsh: or 0208 977 9132

Notes to Editors

• MyCommute4Less is a trading name of Premium Credit Limited, which has been in business for 25 years and is the leading insurance premium finance company in the UK and Ireland. Premium Credit has two million customers and in 2013 it lent a total of £3.7 billion, processing 25 million Direct Debits.
• You must be over 18 to apply for credit from MyCommute4Less.
• Concessionary discounts from a student or apprentice card cannot be applied by MyCommute4Less
• Customers can voluntarily cancel by phone, then return their Oyster card. Once MyCommute4Less receives it, the Credit Agreement will be cancelled and any refund will be calculated based on the last day of travel using TfL's refund formula. The customer only pays for what they’ve used. There are no cancellation fees.
• However, if cancellation is as a result of default on the monthly payments and the refund is not sufficient to repay the credit owed to MyCommute4Less then the customer will be liable for the shortfall. Conversely, the customer will be entitled to any surplus funds, if any, once the credit has been repaid.

[1] Monthly Travelcard for zones 1-9 - £320.30 per month - £3843.60 for 12 months
2 TFL 2015 Fares -
3 Populus survey of 2,000 London commuters, conducted November 2014
4 Annual Travelcard for zones 1-9 purchased before 31st December 2014 - £3256.00. By buying annual TravelCard with MyCommute4Less before 31st December rather than monthly Travelcards, commuters can save £587, less the 5% MyCommute4Less fee (£162.80). So saving £424.80.
5 Populus survey of 2,000 London commuters, conducted November 2014
6HSBC – personal loan for £1,800 over 12 months – 21.9% APR – total amount payable £2,000.57 (12th November 2014)
7 Populus survey of 2,000 London commuters, conducted November 2014

This press release was distributed by ResponseSource Press Release Wire on behalf of Harrison Sadler in the following categories: Personal Finance, Business & Finance, Travel, for more information visit