Official Credit Card PPI / MoneySavingExpert.com Discussion Area

hulmey14

hi Guys this is my first post so please bear with me.

My mother suddenly passed away recently and im just getting round to sorting out her affairs. Ive unmasked a Credit card bill with a 12000 balance, it appears that the account has not been paid for some time but each month interest and payment protection is being added to the total bill.

I visited the bank to sort out and have just got a letter saying they will be clearing the account due to my mothers death BUT will only pay 8100 through payment protection and the balance of 4000 will have to be covered by the estate funds of my mum.

I have found all the other statements and each month payment protection is added as a percentage of the total outstanding balance??

Are they in their rights to say that they are only protecting the credit limit when they are charging for the full balance and as my mum has very little assets and plenty of debt what action should i take with reagrd to the outstanding debt??

bryanwood44

Hello, I have a card protection which I pay each year, to safe guard my cards if anything goes wrong, do I need to do this dosn the bank do it anyway?

B:money:

vesper58

PPI does indeed cost between 75p to 80p for every 100 on a balance but paying a direct debit is also your own savings/salary.

If you did lose your job which is common at the moment how would you be paying off your credit card? probably more of your savings? say you had a high balance on your credit card when you lost your job you would be in a much worse situation because with PPI you would have had your balance either cleared or reduced without you paying any further premiums.

supasava

Not talking about PPI here, but about services such as Card Protection Plan, which keep a central record of all your cards, passport, driving licence etc so that if they go missing one call to CPP should result in all the cards being cancelled, replacements being ordered etc.

For many years, I've had CPP cover for free (or as good as) as a benefit of having a Diners Club card. Unfortunately, so few local retailers take Diners Club any more I haven't been able to use it for ages, with the result that Diners Club decided to mark my account dormant, then closed it without even mentioning to me that they had done so. I only found out when I finally found a retailer who accepts Diners and tried to make a payment using my card. Thanks very much Diners for leaving me in a shop having my card rejected without warning - always nice. Although not as nice as the unpleasant customer services woman I spoke to on the phone today. At least the guy in the shop was nice about it - Diners' customer services was just plain unpleasant.

Anyway, now that my Diners is no more, my CPP cover is going to run out fairly soon. I don't really fancy paying £29 per year for this service. I definitely don't plan to open a ridiculously expensive Barclays Premier account or anything like that in order to get the CPP thrown in. So the question is, does anybody know of any card or free bank account that throws CPP cover in for free (or very discounted)?

Irishbird_2

Does anyone know if there are any rules to say that you can't transfer a credit card balance from a card where you don't have PPI onto one that you already have PPI if you have been told that you are going to be made redundant? My job ends officially in the next few days. I can't see it mentioned in any of the literature I have. I have PPI on two of my cards which I was going to cancel but luckily didn't and on my other two I don't. I had already transferred about £3K into one CC which has PPI so the balance is now £4K so hopefully that will be ok. I think they pay about 10% of the balance every month.

I have another £2.5K that I want to transfer into my second card which has PPI. Although I've already been told I'll be made redundant, surely if I've had the PPI for some time, they can't refuse to let me use the payment protection insurance for money that I transfer in there. It would be excellent if I could do this transfer because as far as I know this particular CC will just pay off the balance after 30 days of unemployment or maybe it's 90 days.

My hubby has just lost his job this week and we're in £12K debt after doing renovations on our house. The credit cards form part of this debt

sarada81

Hi there,

I have a several cards which I'm in the process of paying off, and seem to have CPPs/PPI on all of them!

Can I cancel all of these and just get one plan from a provider e.g. CPP, Sentinel etc.? It just feels like I'm paying for the same thing about 3-4 times!

Cheers!