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
    • AndyWh1te
    • By AndyWh1te 7th Dec 17, 9:50 PM
    • 1Posts
    • 0Thanks
    AndyWh1te
    Egg / Barclaycard PPI redress
    • #1
    • 7th Dec 17, 9:50 PM
    Egg / Barclaycard PPI redress 7th Dec 17 at 9:50 PM
    Hello,
    First post here but I've used the site for a while and found the PPI advice very helpful.
    This year I decided to claim for mis-sold PPI from my Egg (now Barclaycard) credit card on the basis that I would not have received correct advice and online boxes were pre-ticked when I applied.
    I first took the card out in October 1999 and it was replaced with a Barclaycard when they took over the Egg Card business.
    My complaint was declined by Barclaycard, so I escalated it to the financial ombudsman. They were very helpful indeed and after an email conversation with them through the Resolver site they discerned that I was mis-sold PPI by Egg due to me not having been working full time in permanent employment in the 6 months prior to my initial card application.
    I am pleased to say that Barclaycard have now made an offer as follows, after cancelling the PPI policy last month:
    A - Refund of payments made by you for PPI cover - £3206.69
    B - Refund of interest charged on PPI premiums - £1275.70
    C - 8% interest statutory compensation - £2785.62
    Less income tax deduction - £557.12
    D - Total payable - £6710.89

    Now my query is with item B, the refund of interest. Does this figure seem right for 18 years of card interest on £3206.69? I am not sure how they would have arrived at this figure and was wondering if it was possible to verify the figure at all?

    Has anyone else had a refund offer from Barclaycard and had to query the offer in the same way?

    On another note their offer letter says that the ombudman says that I have already accepted the offer, which I have not.

    Thanks in advance,
    Andy
Page 1
    • -taff
    • By -taff 7th Dec 17, 11:17 PM
    • 7,161 Posts
    • 5,159 Thanks
    -taff
    • #2
    • 7th Dec 17, 11:17 PM
    • #2
    • 7th Dec 17, 11:17 PM
    Redress is defined. you don't get to haggle with them.
    Your balance will not have been that figure for the entire time?
    • antrobus
    • By antrobus 7th Dec 17, 11:49 PM
    • 15,295 Posts
    • 21,824 Thanks
    antrobus
    • #3
    • 7th Dec 17, 11:49 PM
    • #3
    • 7th Dec 17, 11:49 PM
    ...Now my query is with item B, the refund of interest. Does this figure seem right for 18 years of card interest on £3206.69?...
    Originally posted by AndyWh1te
    Given that B is almost 40% of A. Yup.

    .,,,,I am not sure how they would have arrived at this figure and was wondering if it was possible to verify the figure at all?...
    Originally posted by AndyWh1te
    It will have been calculated. If you ask them nicely they will likely send you a copy. Then you can verify it for yourself.
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

194Posts Today

1,498Users online

Martin's Twitter
  • I realised I forgot in my links earlier. 1. Help to Buy ISAs, how they work and best buys...? https://t.co/BSCNPeqiVF

  • RT @whatdawndid: Thanks to uncle @MartinSLewis I just received £200 back, just like that from the student loan company! Turns out that the?

  • RT @LaraLewington: Shocked and saddened by Cheggers news. Working with him on It?s A Knockout was my 1st job in telly when I was just 19. H?

  • Follow Martin