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[MSE Dan]

This discussion relates to the updated Credit Card Protection Plans article.

Click reply to discuss

[scattycat]

Sorry Dan I just dont believe in it, its a racket and should be avoided.

[raeble]

Waste of money. I also think it is a racket to be avoided.

[Rafter]

It is insurance - and by law it isn't compulsory.

Problem is it isn't competitive and unlike car or home insurance, it is not immediately obvious what is covered and what is not.

This policy looks like the best of a bad bunch, but still better not to have credit card debt in the first place or maintain a savings buffer.

R.

[dongunn]

I have credit card protection thru a company called Sentinel, which covered me from 4.203 t 3.2.06 for £39. Is this cosher? I don't see this company listed in your article.

[Phantom Flan Flinger]

Originally Posted by dongunn

I have credit card protection thru a company called Sentinel, which covered me from 4.203 t 3.2.06 for £39. Is this cosher? I don't see this company listed in your article.

Sentinel covers you if you lose your cards i.e. against fraud, it's not insurance against you being unable to pay your cards if you're made redundant, etc.

[aaroncroydon]

My partner has a Natwest credit card and has just been charged £20 for a year's membership. He cancelled it last year and didn't expect it to appear this year. We moved house last year, so teh Insurance company allegedly sent out a renewal to our old address. The call centre said that he couldn't cancel the policy as the renewal took place in February and you're given 14 days to cool off and cancel if you wish. I stated the case and he kept referring to the Terms & Conditions. I said I wasn't happy with this and I wanted to speak to his line manager. He put me on hold and said that all of the managers were in a meeting (at 7.30pm?). He said a manager could call me back in an hour. I said that would be fine as long as he/she cancelled the policy. And then he said he would cancel the policy (without referring to a manager), send out a letter confirming the cancellation, and the refund would take 7-10 days.

My point is, no matter what they say about T&Cs, cooling off, etc., stand your ground. How many other people would've said "sod it, it's only £20!" Let's sting them back!

[vanessa123]

i took out a card for my partner over the internet a months ago, and declined credit card protection (ccp) as it's a rip off!.
but after he had the card for a few months and i looked at the statement it had ccp added to it, so i asked him to ring and find out why.
the company says he agreed to it over the phone which he denies, and they can't find any proof to substantiate their statement, however they do have proof that we declined ccp on the initial application but they are unwilling to refund us.
any help or advice would be grately appreciated.
xxxxx

[oldfella]

but they are unwilling to refund us.
-------
tell them they have 7 days to pay otherwise you will sue them in the small claims court

Mike

[PixieFace]

Just wanted to let you all know that I have managed to cancel the payment protection on my Lloyds Advance credit card with no real trouble at all. I tried on Friday using the standard customer services line, and was pressured into keeping it, with the usual jargon. However, after a few more calls, I managed to get a direct line to the cancellation department and after a one minute call, they are cancelling, saving me just over £20 a month.

PixieFace

[vanessa123]

Originally Posted by oldfella

but they are unwilling to refund us.
-------
tell them they have 7 days to pay otherwise you will sue them in the small claims court

Mike

thanks for your input, we have put this advice in motion, a man at the company said that we needed to officially complain by letter first to be taken seriously in the small claims court. so we have, and have received a reply stating that it will be sorted out one way or another by the 2nd of february, which i thought was quite good....... i will keep the forum posted on the developments.
thank you

vanessa

[Astaroth]

At the end of the day it is insurance and so all depends on your personal appetite for risk as to if it offers good value for money.

Given the misses used to work in claims for PPI I have heard of many cases where people have had their complete debt written off because they had PPI cover. What surprised me even more was with credit card PPI people could continue spending on the card whilst claiming and the claims department continued to pay it off.

Personally I dont feel that PPI is necessary for my personal circumstances but it really does have to be a personal decision.

[vanessa123]

Originally Posted by vanessa123

thanks for your input, we have put this advice in motion, a man at the company said that we needed to officially complain by letter first to be taken seriously in the small claims court. so we have, and have received a reply stating that it will be sorted out one way or another by the 2nd of february, which i thought was quite good....... i will keep the forum posted on the developments.
thank you

vanessa

re. my previous entry i can now confirm the credit card company have apologised for any problems we have had and refunded us £170 direct to the card.
marvelous result, especially as the first guy we dealt with said well it's your word against ours really and we won't give the money back!!
ha-ha i may ring him and rub it in........
thanks to all who helped out and keep fighting!!!!!!!!!!!
xxxx

[thegeeman]

Hi all

First of all this is my very first post on this site so apologies if i've posted incorrectly. This seemed to be the only thread that i could find in relation to credit card payment protection insurance (ppi).

My situation:
Approx 6yrs ago i had a claim under ppi declined. Believing it was genuine, i phoned them to have a go; as you do! Nevertheless, they still refused the claim. At that point, completely annoyed and frustrated, i told them to cancel the ppi as "i am not paying for something that i will not be able to claim on." The customer services asst at the other end of the phone said he will arrange for that to be done. He NEVER did.

Now i know this is completely my fault, but i simply never got round to chasing it up. My credit card balance is approx £9k so you can imagine how much i've paid over the years on ppi alone!! I put my hands up to admitting that i did NOT like even opening my credit card statement each month, as the whole thought of the debt itself, concerned me.

I am 100% confident in my insistence that i requested this ppi be removed. As for the approximate date, the card provider can simply tie it in with when my claim was declined. I have wrote to them asking that they refund my ppi payments for the years i have been paying it and that they can access the taped conversation (if available) to confirm that i requested the ppi be removed.

My questions to any and all that can help me is; realistically, what chance do i have in getting any of it back? will they not merely say that "why has it taken so long? You could have done this ages ago?" "We can't find any record of you requesting it be removed so we are not paying out!" etc etc.

I would be very grateful if someone could please help me.

Many Thanks
WG

[thegeeman]

Hi all

First of all this is my very first post on this site so apologies if i've posted incorrectly. This seemed to be the only thread that i could find in relation to credit card payment protection insurance (ppi).

My situation:
Approx 6yrs ago i had a claim under ppi declined. Believing it was genuine, i phoned them to have a go; as you do! Nevertheless, they still refused the claim. At that point, completely annoyed and frustrated, i told them to cancel the ppi as "i am not paying for something that i will not be able to claim on." The customer services asst at the other end of the phone said he will arrange for that to be done. He NEVER did.

Now i know this is completely my fault, but i simply never got round to chasing it up. My credit card balance is approx £9k so you can imagine how much i've paid over the years on ppi alone!! I put my hands up to admitting that i did NOT like even opening my credit card statement each month, as the whole thought of the debt itself, concerned me.

I am 100% confident in my insistence that i requested this ppi be removed. As for the approximate date, the card provider can simply tie it in with when my claim was declined. I have wrote to them asking that they refund my ppi payments for the years i have been paying it and that they can access the taped conversation (if available) to confirm that i requested the ppi be removed.

My questions to any and all that can help me is; realistically, what chance do i have in getting any of it back? will they not merely say that "why has it taken so long? You could have done this ages ago?" "We can't find any record of you requesting it be removed so we are not paying out!" etc etc.

I would be very grateful if someone could please help me.

Many Thanks
WG

[Birkonian]

Hi.

I wrote to my credit card company on 19th January to cancel my PPI , as I have been made redundant and switched to temporary seasonal work which is not covered by the policy.

Since writing to them, I have not received a reply, and in my statement on 9th February, I have again been charged for PPI.

Would I be able to reclaim any charges they have made since writing to them?

[LittleVoice]

Birkonian

Even second class post should have got the letter to them in time for your February statement. Did you get a certificate of posting for the 19 Jan letter or send it recorded delivery?

I would challenge the February deduction - is there a free phone number you can use. Mention the letter you have already written. Or do you have web access to your card account. If so, use any secure messaging service to get through to them. Keep a copy of any message you send (screen print and draft the message in WP application).

In the event that they agree to refund the February charge, I would get them to confirm in writing immediately - could they send a simple email? If you get a refusal, pursue it. I would send, by recorded delivery**, another letter enclosing a copy of the first. This will confirm you do not want the insurance as it is not suitable for you - they would never have been at risk of paying out.

** recorded delivery - is not perfect - for instance because businesses (particularly big ones) regularly do not sign for its receipt - but it will show that you have written (though a certificate of posting would also do that).

- LittleVoice

[Birkonian]

Thanks for that one. I did not get a certificate of posting, or send it by recorded delivery, as I managed to cancel the PPI on another credit card without any problem.
So far there has been no reply but they usually require a written request for cancellation, and yet they manage to sign you up for these policies over the phone with just a "yes" or "no". I have already complained to that particular credit card company about regular phone calls on Saturdays from a foreign call centre trying to sell me their life insurance recently and they stopped that immediately.

[Birkonian]

I have now got a reply phone call confirming cancellation. Apparently you have to give 30 days notice with that particular company, although my other credit card company was able to cancel the PPI inmmediately.

When you cancel your PPI, you will find that banks and Credit card companies have different rules about cancellation.
In my case, I found that Capital One were able to cancel it immediately, but MBNA insisted on 30 days notice and charged me an extra month.

I took out the PPI when I worked full time but when I became redundant and switched to temporary contract work, I was not covered whilst unemployed.

[martincredland]

Originally Posted by thegeeman

Hi all

First of all this is my very first post on this site so apologies if i've posted incorrectly. This seemed to be the only thread that i could find in relation to credit card payment protection insurance (ppi).

My situation:
Approx 6yrs ago i had a claim under ppi declined. Believing it was genuine, i phoned them to have a go; as you do! Nevertheless, they still refused the claim. At that point, completely annoyed and frustrated, i told them to cancel the ppi as "i am not paying for something that i will not be able to claim on." The customer services asst at the other end of the phone said he will arrange for that to be done. He NEVER did.

Now i know this is completely my fault, but i simply never got round to chasing it up. My credit card balance is approx £9k so you can imagine how much i've paid over the years on ppi alone!! I put my hands up to admitting that i did NOT like even opening my credit card statement each month, as the whole thought of the debt itself, concerned me.

I am 100% confident in my insistence that i requested this ppi be removed. As for the approximate date, the card provider can simply tie it in with when my claim was declined. I have wrote to them asking that they refund my ppi payments for the years i have been paying it and that they can access the taped conversation (if available) to confirm that i requested the ppi be removed.

My questions to any and all that can help me is; realistically, what chance do i have in getting any of it back? will they not merely say that "why has it taken so long? You could have done this ages ago?" "We can't find any record of you requesting it be removed so we are not paying out!" etc etc.

I would be very grateful if someone could please help me.

Many Thanks
WG

DID YOU GET ANY WHERE WITH PPI CLAIM BACK?????