Egg Card PPI pretick letter??
Comments
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Ppi is listed on your statement seperately every single month .
I cant see how you can say you didnt know you had it
These policies were largely sold years ago and people were basically told they had to have it as a condition. Many didn't really know what it was and that was the whole point of Martins PPI campaign. Thanks to sites such as this people have taken up complaints to the bank but even now there are people that don't spend a lot of time online or reading - I see posts weekly on other forums asking for PPI advice because the poster has' heard something' about the subject - this is probably the reason the claims coming are still doing brisk business.
It's easy to think everyone is on MSE or similar and is clued up about financial matters but it's simply not true.
The accounts so many people ask about re PPI are so often very old accounts, people don't remember the details from 10/15 years ago, course not.
I can barely remember my first mortgage provider tbh, much less if I was sold any policies all those years ago.0 -
LuxuryWoman wrote: »No I didn't continue to use the card, it's too long to go into but no. I had £100k from house proceeds coming to pay any balances off. I was a housewife with a baby then, self employed, not so easy to simply take out a new card. This was around 2005 but they repaid me 2.5k all told for original charges of around £150
So you got the card and must have spent quite a bit of money before you saw the PPI on the first statement and didn't use it again?. Did you try and apply for another card?LuxuryWoman wrote: »These policies were largely sold years ago and people were basically told they had to have it as a condition. Many didn't really know what it was and that was the whole point of Martins PPI campaign. Thanks to sites such as this people have taken up complaints to the bank but even now there are people that don't spend a lot of time online or reading - I see posts weekly on other forums asking for PPI advice because the poster has' heard something' about the subject - this is probably the reason the claims coming are still doing brisk business.
That's part of the problem if someone doesn't understand something they are paying for they should do some research and not blindly pay it.
I remember when i applied for my first credit card and was offered PPI. I had never heard of it before so did some research and decided i didn't want it so declined, it's not difficult.
One of my first bank accounts was a packaged bank account with a monthly fee. When i received all the paperwork i decided it wasn't what i wanted. So i went back into the branch (where i opened the account) and said i didn't want it and got a refund of the monthly fee i had already paid.
So many people happily pay for financial products they don't understand without question. This is the reason so many people have unsuitable PPI policies and other products.
Getting everyone to jump on the PPI reclaiming bandwagon won't stop them from making poor financial decisions in the future. They need to take more responsibility.0 -
From my memory bank 12 years ago. My balance when I received my new card and had to activate it by phone was about £200. I'd had the card and while buthe the ppi was added at this activation of the new card.
Yes people do need to take financial responsibility but the mis-selling scandals of recent years may force banks not to incentivize their staff too push unnecessary products on people.
My ex MIL was paying ppi on a catalogue, she was told she had to have it. She was a retired housewife. Catalogues the only way she could pay for a new washin machine or whatever.
Not everyone was missold it's true but many were. I certainly was.0 -
I have just had a refund from EGG via Barclays as I had been mis-sold PPI in 2004 and 2005 which incidentally did not appear on the statement each month, it was applied as a single premium, one when I initially got the card and another when a credit limit increase was approved, so when I said I didn't know I had I am being completely truthful!0
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So, not PPI then?it was applied as a single premium
CC PPI is charged on outstanding balance each month. What was it actually called?0 -
I have just had a refund from EGG via Barclays as I had been mis-sold PPI in 2004 and 2005 which incidentally did not appear on the statement each month, it was applied as a single premium, one when I initially got the card and another when a credit limit increase was approved, so when I said I didn't know I had I am being completely truthful!
Single premium PPI on a credit card?. I have never heard of such a thing, PPI varies according to the balance so I have no idea how it can be single premium.
I'm willing to bet it must have been some other kind of insurance, can you upload the letters (with personal information removed) so we can see what it was.
But even if you did pay a single premium when you go the card and when you got a credit limit increase this must have come from somewhere so you should have questioned the payments if you didn't know what they are for.
You should also check your bank accounts to see what other payments you are paying and don't know what they are for.0 -
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