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  • FIRST POST
    • richard 3095
    • By richard 3095 16th Mar 17, 5:59 PM
    • 80Posts
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    richard 3095
    PPI & Credit Cards
    • #1
    • 16th Mar 17, 5:59 PM
    PPI & Credit Cards 16th Mar 17 at 5:59 PM
    Hi. I've had credit cards with Santander & Barclays for a few years. I invariably pay the balance off before it's due. Have I been paying PPI as a matter of course on my cards?

    When I use look at Resolver, which has teamed up with moneysavingexpert.com I get the feeling, from the questions asked, that maybe I cannot have a claim, because it looks unlikely from the questions being asked. Mostly I have to enter "don't know". Al I can offer is the bank and the credit card number or part of that is asked for.

    I guess I'm skeptical that I can claim. Rich
Page 1
    • Bogalot
    • By Bogalot 16th Mar 17, 6:02 PM
    • 1,001 Posts
    • 2,572 Thanks
    Bogalot
    • #2
    • 16th Mar 17, 6:02 PM
    • #2
    • 16th Mar 17, 6:02 PM
    If you pay off your card in full each month you won't have paid PPI.

    So why do you think you were missold, and how much of nil are you wanting to reclaim?
    • Moneyineptitude
    • By Moneyineptitude 16th Mar 17, 6:24 PM
    • 18,863 Posts
    • 9,017 Thanks
    Moneyineptitude
    • #3
    • 16th Mar 17, 6:24 PM
    • #3
    • 16th Mar 17, 6:24 PM
    Have I been paying PPI as a matter of course on my cards?
    Originally posted by richard 3095
    You won't even have PPI unless you knowingly agreed to it. If you no longer know, it's simply because you've forgotten.

    If you do have PPI on your credit cards you will only have paid it when the account had an outstanding balance. If you always pay off your balance you won't have paid any PPI. You will only ever get a refund of amounts paid, even if any PPI was mis-sold to you.

    Instead of making a "complaint", why don't you simply contact the credit card providers and ask them if you had PPI?

    I never said I think I've been missold.
    Originally posted by richard 3095
    So why are you considering making a complaint then?
    • richard 3095
    • By richard 3095 16th Mar 17, 6:27 PM
    • 80 Posts
    • 5 Thanks
    richard 3095
    • #4
    • 16th Mar 17, 6:27 PM
    • #4
    • 16th Mar 17, 6:27 PM
    This is from a page on moneysavingexpert.com

    Question: " I always paid off my card in full - can I claim?

    Yes. Insurance is usually added to your account based on the final monthly balance before repayments so you could have been paying for the insurance even if you cleared your account each month. If in doubt contact your card provider to check."


    So, that makes me wonder if perhaps I might have paid PPI.
    • lovinituk
    • By lovinituk 16th Mar 17, 6:45 PM
    • 5,334 Posts
    • 5,970 Thanks
    lovinituk
    • #5
    • 16th Mar 17, 6:45 PM
    • #5
    • 16th Mar 17, 6:45 PM
    <popcorn ready>
    The following is my forum signature and not necessarily a response to your post:
    "To be truly successful you must live a few years of your life like others won’t so you may live the rest of your life like others can’t"
    • dunstonh
    • By dunstonh 16th Mar 17, 7:05 PM
    • 88,292 Posts
    • 53,522 Thanks
    dunstonh
    • #6
    • 16th Mar 17, 7:05 PM
    • #6
    • 16th Mar 17, 7:05 PM
    This is from a page on moneysavingexpert.com

    Question: " I always paid off my card in full - can I claim?

    Yes. Insurance is usually added to your account based on the final monthly balance before repayments so you could have been paying for the insurance even if you cleared your account each month. If in doubt contact your card provider to check."
    Does it really say that? That is strange as the vast majority of credit cards only levy PPI if you borrowed money after the interest free period. So, if you paid it in full each month, you didnt pay a thing in PPI. Although MSE does say some funny and unreliable things from time to time.

    The answer you received in post#2 was correct. So, you may wish to retract your foul response
    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.
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