Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • gramochroi
    • By gramochroi 13th Oct 16, 9:41 PM
    • 96Posts
    • 84Thanks
    gramochroi
    Arcadia Group & CarpetRight
    • #1
    • 13th Oct 16, 9:41 PM
    Arcadia Group & CarpetRight 13th Oct 16 at 9:41 PM
    Apologies in advance, these questions have probably been asked before, but would like to know the answer to question 1 in particular before I make a phone call tomorrow if at all possible.

    1) Was PPI sometimes shown as interest on Top Shop cards?

    2) Did CarpetRight charge PPI shown as interest on statements in the late 1990's and early 2000's, or would this more likely to have been, in fact, interest?

    Many thanks.
Page 1
    • Moneyineptitude
    • By Moneyineptitude 13th Oct 16, 9:47 PM
    • 17,232 Posts
    • 7,774 Thanks
    Moneyineptitude
    • #2
    • 13th Oct 16, 9:47 PM
    • #2
    • 13th Oct 16, 9:47 PM
    Was PPI sometimes shown as interest on Top Shop cards?
    Originally posted by gramochroi
    Categorically not.
    PPI is insurance.
    Interest is interest paid on the outstanding amount owed.

    Did CarpetRight charge PPI shown as interest on statements in the late 1990's and early 2000's, or would this more likely to have been, in fact, interest?
    Originally posted by gramochroi
    PPI is insurance.
    Interest is interest paid on the outstanding amount owed.
    The two were never confused by any provider and each was always itemised separately on each and every monthly statement.

    If your statements don't clearly show PPI, you didn't have it.
    It's a myth fostered by Claim Companies that PPI was "hidden" in Interest charges.
    • gramochroi
    • By gramochroi 13th Oct 16, 10:14 PM
    • 96 Posts
    • 84 Thanks
    gramochroi
    • #3
    • 13th Oct 16, 10:14 PM
    • #3
    • 13th Oct 16, 10:14 PM
    But Santander have told me that I had PPI and it wasn't shown as a separate charge on my statement?
    • Moneyineptitude
    • By Moneyineptitude 13th Oct 16, 10:26 PM
    • 17,232 Posts
    • 7,774 Thanks
    Moneyineptitude
    • #4
    • 13th Oct 16, 10:26 PM
    • #4
    • 13th Oct 16, 10:26 PM
    But Santander have told me that I had PPI and it wasn't shown as a separate charge on my statement?
    Originally posted by gramochroi
    Since credit card PPI was only paid when the account had a balance, it's entirely possible to "have" PPI and yet to never have paid any.
    Santander will only refund monies you actually paid, so even if any complaint you might make is upheld you might well receive nothing.
    • gramochroi
    • By gramochroi 13th Oct 16, 10:29 PM
    • 96 Posts
    • 84 Thanks
    gramochroi
    • #5
    • 13th Oct 16, 10:29 PM
    • #5
    • 13th Oct 16, 10:29 PM
    Thanks for your help. I have been made an offer, but will just have a further chat with them to make sure it is correct.
    • gramochroi
    • By gramochroi 13th Oct 16, 10:58 PM
    • 96 Posts
    • 84 Thanks
    gramochroi
    • #6
    • 13th Oct 16, 10:58 PM
    • #6
    • 13th Oct 16, 10:58 PM
    Sorry if I'm being an absolute dimwit. But I had this card for fifteen years between 1986 and 2001. The offer they have made me is based on my having paid about £1.20 a month in PPI. I asked my ex to pull out some old paperwork today. As an example in Jun/July 2000 my spend on the card was £118.29, although I know it went quite a lot higher at times. There is no indication of PPI, just interest payments.
    • Moneyineptitude
    • By Moneyineptitude 13th Oct 16, 11:03 PM
    • 17,232 Posts
    • 7,774 Thanks
    Moneyineptitude
    • #7
    • 13th Oct 16, 11:03 PM
    • #7
    • 13th Oct 16, 11:03 PM
    It doesn't matter how much you spent on the card, it's the balance left that determines whether PPI is paid. On months when you had a nil balance, you won't have paid any PPI.
    • gramochroi
    • By gramochroi 13th Oct 16, 11:05 PM
    • 96 Posts
    • 84 Thanks
    gramochroi
    • #8
    • 13th Oct 16, 11:05 PM
    • #8
    • 13th Oct 16, 11:05 PM
    But would the PPI have been included in the balance? Where is this indicated, was it a hidden percentage?
    • Moneyineptitude
    • By Moneyineptitude 13th Oct 16, 11:27 PM
    • 17,232 Posts
    • 7,774 Thanks
    Moneyineptitude
    • #9
    • 13th Oct 16, 11:27 PM
    • #9
    • 13th Oct 16, 11:27 PM
    If you paid off the balance prior to the next statement, no PPI would have been charged. Any PPI would only be charged on the NEXT month's statement, thus allowing you to pay off the balance if you desired.

    In summary;
    PPI was detailed on a separate line each month (but only if payable)

    PPI was not "hidden" in Interest charges or anywhere else.

    If no PPI is itemised on a given statement, then you didn't pay any for that month.
    • magpiecottage
    • By magpiecottage 13th Oct 16, 11:45 PM
    • 9,133 Posts
    • 5,579 Thanks
    magpiecottage
    You seem to be alleging that PPI was missold to you in 1986 and they have made an offer.

    You could instead take the matter to FOS. If you do, you risk the matter being looked at by somebody at Santander who realises that in 1986 there was no predecessor to FOS that had jurisidiction over the sale so that FOS has no jurisdiction either. If that happens, you get nothing.
    • Mersey
    • By Mersey 13th Oct 16, 11:46 PM
    • 1,243 Posts
    • 565 Thanks
    Mersey
    But Santander have told me that I had PPI and it wasn't shown as a separate charge on my statement?
    Originally posted by gramochroi


    This is rare, although it did happen by mistake on some of the old Arcadia Group stores, which Santander are now dealing with.
    Please be polite to OPs and remember this is a site for Claimants and Appellants to seek redress against their bank, ex-boss or retailer. If they wanted morality or the view of the IoD or Bank they'd ask them.
    • Nasqueron
    • By Nasqueron 14th Oct 16, 9:07 AM
    • 2,960 Posts
    • 1,601 Thanks
    Nasqueron
    This is rare, although it did happen by mistake on some of the old Arcadia Group stores, which Santander are now dealing with.
    Originally posted by Mersey
    How would that work? If it didn't mention the PPI charge then the balance wouldn't match the charges
    • Mersey
    • By Mersey 14th Oct 16, 1:40 PM
    • 1,243 Posts
    • 565 Thanks
    Mersey
    Exactly, It didn't. I think the FOS mentioned it last year (after finding a case - but Santander said it was a very limited error, but didn't specify to how many of Burton & TopShop's historic accounts).
    Please be polite to OPs and remember this is a site for Claimants and Appellants to seek redress against their bank, ex-boss or retailer. If they wanted morality or the view of the IoD or Bank they'd ask them.
    • Nasqueron
    • By Nasqueron 14th Oct 16, 2:07 PM
    • 2,960 Posts
    • 1,601 Thanks
    Nasqueron
    Exactly, It didn't. I think the FOS mentioned it last year (after finding a case - but Santander said it was a very limited error, but didn't specify to how many of Burton & TopShop's historic accounts).
    Originally posted by Mersey
    So can you link to the FOS case in question?
    • dunstonh
    • By dunstonh 14th Oct 16, 3:17 PM
    • 85,103 Posts
    • 50,126 Thanks
    dunstonh
    FOS only publish ombudsman decisions. Not adjudicator ones. So, it may not be available.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • gramochroi
    • By gramochroi 14th Oct 16, 10:17 PM
    • 96 Posts
    • 84 Thanks
    gramochroi
    So what would they base the calculation of their redress on?
    • gramochroi
    • By gramochroi 14th Oct 16, 10:18 PM
    • 96 Posts
    • 84 Thanks
    gramochroi
    It appears they are offering me about £1.25 per month over fifteen years.
    • Mersey
    • By Mersey 14th Oct 16, 10:37 PM
    • 1,243 Posts
    • 565 Thanks
    Mersey
    That plus 8% pa interest on top.
    Please be polite to OPs and remember this is a site for Claimants and Appellants to seek redress against their bank, ex-boss or retailer. If they wanted morality or the view of the IoD or Bank they'd ask them.
    • gramochroi
    • By gramochroi 14th Oct 16, 10:48 PM
    • 96 Posts
    • 84 Thanks
    gramochroi
    Yes, plus compensation, don't want to be greedy, just seems a very low monthly calculation.
    • Nasqueron
    • By Nasqueron 15th Oct 16, 10:26 AM
    • 2,960 Posts
    • 1,601 Thanks
    Nasqueron
    Yes, plus compensation, don't want to be greedy, just seems a very low monthly calculation.
    Originally posted by gramochroi
    PPI was typically around 70p per £100 of balance, £1.25 might suggest you had around £180 balance on the card on average - unless you have documentation showing you had significantly more on the card every month you will have to accept their offer
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

145Posts Today

3,350Users online

Martin's Twitter