Official Credit Card PPI / MoneySavingExpert.com Discussion Area

Astaroth

At the end of the day it is insurance and so all depends on your personal appetite for risk as to if it offers good value for money.

Given the misses used to work in claims for PPI I have heard of many cases where people have had their complete debt written off because they had PPI cover. What surprised me even more was with credit card PPI people could continue spending on the card whilst claiming and the claims department continued to pay it off.

Personally I dont feel that PPI is necessary for my personal circumstances but it really does have to be a personal decision.

vanessa123

vanessa123 wrote:

thanks for your input, we have put this advice in motion, a man at the company said that we needed to officially complain by letter first to be taken seriously in the small claims court. so we have, and have received a reply stating that it will be sorted out one way or another by the 2nd of february, which i thought was quite good....... i will keep the forum posted on the developments.
thank you

vanessa

re. my previous entry i can now confirm the credit card company have apologised for any problems we have had and refunded us £170 direct to the card.
marvelous result, especially as the first guy we dealt with said well it's your word against ours really and we won't give the money back!!
ha-ha i may ring him and rub it in........
thanks to all who helped out and keep fighting!!!!!!!!!!!
xxxx
:T

thegeeman

Hi all

First of all this is my very first post on this site so apologies if i've posted incorrectly. This seemed to be the only thread that i could find in relation to credit card payment protection insurance (ppi).

My situation:
Approx 6yrs ago i had a claim under ppi declined. Believing it was genuine, i phoned them to have a go; as you do! Nevertheless, they still refused the claim. At that point, completely annoyed and frustrated, i told them to cancel the ppi as "i am not paying for something that i will not be able to claim on." The customer services asst at the other end of the phone said he will arrange for that to be done. He NEVER did.

Now i know this is completely my fault, but i simply never got round to chasing it up. My credit card balance is approx £9k so you can imagine how much i've paid over the years on ppi alone!! I put my hands up to admitting that i did NOT like even opening my credit card statement each month, as the whole thought of the debt itself, concerned me.

I am 100% confident in my insistence that i requested this ppi be removed. As for the approximate date, the card provider can simply tie it in with when my claim was declined. I have wrote to them asking that they refund my ppi payments for the years i have been paying it and that they can access the taped conversation (if available) to confirm that i requested the ppi be removed.

My questions to any and all that can help me is; realistically, what chance do i have in getting any of it back? will they not merely say that "why has it taken so long? You could have done this ages ago?" "We can't find any record of you requesting it be removed so we are not paying out!" etc etc.

I would be very grateful if someone could please help me.

Many Thanks
WG

thegeeman

Hi all

First of all this is my very first post on this site so apologies if i've posted incorrectly. This seemed to be the only thread that i could find in relation to credit card payment protection insurance (ppi).

My situation:
Approx 6yrs ago i had a claim under ppi declined. Believing it was genuine, i phoned them to have a go; as you do! Nevertheless, they still refused the claim. At that point, completely annoyed and frustrated, i told them to cancel the ppi as "i am not paying for something that i will not be able to claim on." The customer services asst at the other end of the phone said he will arrange for that to be done. He NEVER did.

Now i know this is completely my fault, but i simply never got round to chasing it up. My credit card balance is approx £9k so you can imagine how much i've paid over the years on ppi alone!! I put my hands up to admitting that i did NOT like even opening my credit card statement each month, as the whole thought of the debt itself, concerned me.

I am 100% confident in my insistence that i requested this ppi be removed. As for the approximate date, the card provider can simply tie it in with when my claim was declined. I have wrote to them asking that they refund my ppi payments for the years i have been paying it and that they can access the taped conversation (if available) to confirm that i requested the ppi be removed.

My questions to any and all that can help me is; realistically, what chance do i have in getting any of it back? will they not merely say that "why has it taken so long? You could have done this ages ago?" "We can't find any record of you requesting it be removed so we are not paying out!" etc etc.

I would be very grateful if someone could please help me.

Many Thanks
WG

Birkonian

Hi.

I wrote to my credit card company on 19th January to cancel my PPI , as I have been made redundant and switched to temporary seasonal work which is not covered by the policy.

Since writing to them, I have not received a reply, and in my statement on 9th February, I have again been charged for PPI.

Would I be able to reclaim any charges they have made since writing to them?

LittleVoice

Birkonian

Even second class post should have got the letter to them in time for your February statement. Did you get a certificate of posting for the 19 Jan letter or send it recorded delivery?

I would challenge the February deduction - is there a free phone number you can use. Mention the letter you have already written. Or do you have web access to your card account. If so, use any secure messaging service to get through to them. Keep a copy of any message you send (screen print and draft the message in WP application).

In the event that they agree to refund the February charge, I would get them to confirm in writing immediately - could they send a simple email? If you get a refusal, pursue it. I would send, by recorded delivery**, another letter enclosing a copy of the first. This will confirm you do not want the insurance as it is not suitable for you - they would never have been at risk of paying out.

** recorded delivery - is not perfect - for instance because businesses (particularly big ones) regularly do not sign for its receipt - but it will show that you have written (though a certificate of posting would also do that).

- LittleVoice

Birkonian

Thanks for that one. I did not get a certificate of posting, or send it by recorded delivery, as I managed to cancel the PPI on another credit card without any problem.
So far there has been no reply but they usually require a written request for cancellation, and yet they manage to sign you up for these policies over the phone with just a "yes" or "no". I have already complained to that particular credit card company about regular phone calls on Saturdays from a foreign call centre trying to sell me their life insurance recently and they stopped that immediately.

Birkonian

I have now got a reply phone call confirming cancellation. Apparently you have to give 30 days notice with that particular company, although my other credit card company was able to cancel the PPI inmmediately.

When you cancel your PPI, you will find that banks and Credit card companies have different rules about cancellation.
In my case, I found that Capital One were able to cancel it immediately, but MBNA insisted on 30 days notice and charged me an extra month.

I took out the PPI when I worked full time but when I became redundant and switched to temporary contract work, I was not covered whilst unemployed.

martincredland

thegeeman wrote: »

Hi all

First of all this is my very first post on this site so apologies if i've posted incorrectly. This seemed to be the only thread that i could find in relation to credit card payment protection insurance (ppi).

My situation:
Approx 6yrs ago i had a claim under ppi declined. Believing it was genuine, i phoned them to have a go; as you do! Nevertheless, they still refused the claim. At that point, completely annoyed and frustrated, i told them to cancel the ppi as "i am not paying for something that i will not be able to claim on." The customer services asst at the other end of the phone said he will arrange for that to be done. He NEVER did.

Now i know this is completely my fault, but i simply never got round to chasing it up. My credit card balance is approx £9k so you can imagine how much i've paid over the years on ppi alone!! I put my hands up to admitting that i did NOT like even opening my credit card statement each month, as the whole thought of the debt itself, concerned me.

I am 100% confident in my insistence that i requested this ppi be removed. As for the approximate date, the card provider can simply tie it in with when my claim was declined. I have wrote to them asking that they refund my ppi payments for the years i have been paying it and that they can access the taped conversation (if available) to confirm that i requested the ppi be removed.

My questions to any and all that can help me is; realistically, what chance do i have in getting any of it back? will they not merely say that "why has it taken so long? You could have done this ages ago?" "We can't find any record of you requesting it be removed so we are not paying out!" etc etc.

I would be very grateful if someone could please help me.

Many Thanks
WG

DID YOU GET ANY WHERE WITH PPI CLAIM BACK?????

peterbaker

Birkonian wrote: »

I have now got a reply phone call confirming cancellation. Apparently you have to give 30 days notice with that particular company, although my other credit card company was able to cancel the PPI inmmediately.

When you cancel your PPI, you will find that banks and Credit card companies have different rules about cancellation.
In my case, I found that Capital One were able to cancel it immediately, but MBNA insisted on 30 days notice and charged me an extra month.

I took out the PPI when I worked full time but when I became redundant and switched to temporary contract work, I was not covered whilst unemployed.

Birkonian, you contact them again and tell them the cancellation is to be immediate. No ifs or buts. Forget the small print. This is insurance they are selling, and this is an unexpected and unfair term and insurance law will not support it.

I have NEVER come across a mandatory notice of cancellation on Credit Card PPI and I have been stopping and starting PPI to suit me (not them) for years. That is not to say that some unscrupulous persons have not recently started throwing spanners in the works to have your money away for an extra month. I must admit it is a little while since I switched off PPI on an account and I receive new Terms and Conditions (which I keep but do not read) almost every month. Because they change the Ts&Cs so often they are of little real effect in a court of law. They are actually just a huge nuiscance designed to extract money from you and to make you give up complaining.

By the way, have I said that I think most corporate lawyers are the lowest form of life on earth, yet? They smile, they even dare look you in the eye and reassure you, but they are actually as predictable as reptiles, with only one common trait...you'll always find them warming themselves in the sun every day regular as clockwork. (They write the Ts&Cs)

Credit Card PPI is an atrociously expensive way to protect your payments for any length of time and should only ever be used if you are going through a temporarily insecure patch at work and can be sure that if you DO lose your job then you will meet ALL the conditions. I can see no other reason for using it. If you want longer term protection I think you can buy a standalone policy much more cheaply (maybe as little as 25% of the rate charged under PPI ... speak to an insurance broker) and with better benefits.

Create a stink at MBNA if they are forcing you to pay another monthly premium on a big balance. Tell them it is well known that PPI rates on Credit Cards are a rip-off compared to open-market insurance premium rates and that if they wish to explain themselves to the Financial Ombudsman next week then they will cancel the insurance back to the date when it was no longer of any possible benefit to you i.e. when you had ceased to be in the same job for 6 months.

They might argue that part of the cover is for accident and sickness, but in truth that part of the premium is absolutely miniscule compared to the unemployment cover. That's therefore a feeble counter-argument and in any event still does not explain the 30 day cancellation clause.

They sell this cover as a monthly contract. Whoever heard of a monthly contract with a month cancellation clause? Maybe your local loan shark?

Have no truck with it.

It IS a complete racket.