Monument payment break plan

Stead_eddy

Hello all!

Ive been doing some research on the forum about reclaiming the payment break plan charges i incurred on my monument credit card account. I would be really grateful if anyone could let me know if you know the answer to:

Was the cover only available to the employed, self employed, retired or permanently disabled?

The thing is i was a student when i took out the credit card so dont appear to even have been eligable! Makes sense as i dont ever remember asking for this cover! Especially as i got the card because of the interest free balance transfer option...why pay for a cover that only helps if you lose your source of income (which i didnt have) by stopping interest that wasnt being charged. Im certain they have just added it to my account without my concent.

I'd be very grateful if anyone can help me out with this!

Cheers Ed

Stead_eddy

Any ideas?? Has anyone out there had the same problem?

Thanks

Stead_eddy

Bump................

Stead_eddy

Thought id bump this again in the vain hope someone might see this who has some experience with this! ???

PROLIANT

I have this scheme on my Monument account, doesn't cost a great deal and applies to everybody, you have to agree with Monument that you want the payment break plan, they will not just put it on your account without your ok.

Cat695

why don't you try the credit card thread at the top of the forum

ICan'tStandIt

Stead_eddy wrote: »

Hello all!

Ive been doing some research on the forum about reclaiming the payment break plan charges i incurred on my monument credit card account. I would be really grateful if anyone could let me know if you know the answer to:

Was the cover only available to the employed, self employed, retired or permanently disabled?

The thing is i was a student when i took out the credit card so dont appear to even have been eligable! Makes sense as i dont ever remember asking for this cover! Especially as i got the card because of the interest free balance transfer option...why pay for a cover that only helps if you lose your source of income (which i didnt have) by stopping interest that wasnt being charged. Im certain they have just added it to my account without my concent.

I'd be very grateful if anyone can help me out with this!

Cheers Ed

Monument payment break plan can cover students for things like being hospitalised, being flooded out at home or going on jury service as it covers quite a few things apart from the usual redundancy etc.

However, it only freezes the balance if you claim successfully and doesn't pay anything towards the balance itself.

It can work out very expensive if you have a high balance. You would be better off sticking £25 a month in a savings account and then using that if you come unstuck.

They typically give about a year's worth of monthly charges back straight away if you write in and accuse them of it being miss-sold.

Stead_eddy

Thanks for your replies. I will attempt to find out from them the criteria they place on the cover, Im sure i didnt ask for it but it would an even easier argument to make that i didnt want it. If not fair play to them haha, it was a good few years ago now anyway so i could imagine it being a real pain to persuade them to even look into it. Thanks again.