How is PPI charged on store accounts ?

fiscal_victim · 24 February 2018 at 11:26AM

Have just received 'results' of PPI 'investigation' by Santander Cards UK (formerly GE Money Cards) .Complaint has not been upheld -refusing to pay out. Even though I put a lot of money through the store cards the stated amount of PPI paid by myself looks very small to me. Does anyone know how PPI was/is charged on store card accounts ? Is it charged at date of purchase or is it only charged if the bill is not cleared by the due date thus avoiding any interest charges ?
This matter does not end here.

societys_child · 24 February 2018 at 11:43AM

is it only charged if the bill is not cleared by the due date

Yes, I believe (as with other credit cards) it is only charged on an outstanding balance and is normally between 70p to 80p per £100 outstanding balance per month. I'm sure someone will correct me if I'm wrong.

How much you paid in charges is not relevant, your reason(s) for complaint are what matter.

How is PPI charged on store accounts ?

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