Missold premium account and credit card?

2

Comments

  • eskbanker
    eskbanker Posts: 30,939 Forumite
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    TheElite wrote: »
    Around 8 or 9 years back, while in university, I went to the bank to deposit some money for the tuition fee and the cashier told me that one of the managers would like to discuss some options with me.

    She called me into the office and talked 18 year old me into getting a credit card and switch my classic Lloyds account to a premium account (I can't remember how much it was, around £10 per month or something, but I cancelled a few months later).

    1) Would this be seen to be misselling?
    2) Given that a few years have passed, can something be done about this?
    While most of the discussion seems to have related to your first question, it's all somewhat moot given the second one!

    It's extremely likely that any attempt to claim mis-selling would be rejected by the bank on time-barring grounds, as you'd have had to claim within 6 years of the alleged mis-sale or 3 years after being aware of it (which you'd be held to be by virtue of cancelling).
  • Abbey1991
    Abbey1991 Posts: 159 Forumite
    eskbanker wrote: »
    It's extremely likely that any attempt to claim mis-selling would be rejected by the bank on time-barring grounds, as you'd have had to claim within 6 years of the alleged mis-sale or 3 years after being aware of it (which you'd be held to be by virtue of cancelling).
    I think that as the amount is quite small and if the OP is as polite as it seems from here, the bank will probably refund it anyway.
  • TheElite
    TheElite Posts: 9 Forumite
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    Thanks for everyone's answers.

    I think the reason why this was still in some obscure part of my mind was that, in my opinion, the bank did intentionally give me wholly unsuitable products given my situation.

    I should have probably added in the first post that I wasn't working, and the only regular income was pocket money for uni and expenses from parents. So, given the situation, the bank was acting unethically in giving me a credit card and a premium account when I had no set income. I was a naive just-left-school student, they offered me something and I took it.

    I'm not going to do anything about it, and it's probably too late anyway. I just wanted some opinions.

    Thank you
  • ERICS_MUM
    ERICS_MUM Posts: 3,579 Forumite
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    How many cases claiming to be mis-sold are actually mis-bought ?
  • Abbey1991
    Abbey1991 Posts: 159 Forumite
    ERICS_MUM wrote: »
    How many cases claiming to be mis-sold are actually mis-bought ?
    Dunno but as this is a "consumer revenge" site, best to give people the benefit of the doubt.
  • robber2
    robber2 Posts: 558 Forumite
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    Abbey1991 wrote: »
    Dunno but as this is a "consumer revenge" site, best to give people the benefit of the doubt.

    Dont be silly, its a whole lot more than that. Theres a pretty big clue in the sites name.
  • pmartin86
    pmartin86 Posts: 754 Forumite
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    chattychappy wrote: »
    "misselling" only applies to particular regulated activities. In general, it is up to buyers to determine whether something is suitable for them. Given my weight, I shouldn't be eating chocolate. But I can't claim "misselling" against Sainsburys for continuing to sell me the stuff!

    God damn it! I very breifly got exited that I could make millions off Fosters Larger and the Local kebab shop before you said you couldn't claim!
  • eskbanker
    eskbanker Posts: 30,939 Forumite
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    pmartin86 wrote: »
    God damn it! I very breifly got exited that I could make millions off Fosters Larger and the Local kebab shop before you said you couldn't claim!
    One of the criteria for a section 75 claim is misrepresentation so you may have a viable case against Fosters for selling what appears to be feline urine but labelling it as 'lager'....

    Allegedly, of course.

    ;)
  • chattychappy
    chattychappy Posts: 7,302 Forumite
    eskbanker wrote: »
    One of the criteria for a section 75 claim is misrepresentation so you may have a viable case against Fosters for selling what appears to be feline urine but labelling it as 'lager'....

    Allegedly, of course.

    ;)

    Make sure you get charged £100/can first though!
  • MEM62
    MEM62 Posts: 4,746 Forumite
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    ERICS_MUM wrote: »
    How many cases claiming to be mis-sold are actually mis-bought ?

    Probably most of them.
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