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Natwest PPI
sestina
Posts: 24 Forumite
in Credit cards
My husband recently made a large purchase on his credit card. He has PPI on there (despite being told by me to cancel this years ago). Anyway, he got his bill through and as usual paid it off in full within seven days of receipt. He recently received his latest bill, which showed another premium for the PPI. He complained to Natwest, but was told that the premium is based on the highest balance on the bill, and not on the outstanding balance at the end of the month.
Surely this is wrong? It means that he is effectively paying twice, despite the fact that the large balance was only outstanding for a matter of days.
Any advice or tips would be greatly appreciated.
Surely this is wrong? It means that he is effectively paying twice, despite the fact that the large balance was only outstanding for a matter of days.
Any advice or tips would be greatly appreciated.
Beware the deadly donkey, falling slowly from the sky. You can choose the way you live my friend, but not the way you die. (Edward Monkton)
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Comments
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He SHOULD have been informed when taking out the PPI and it's in the T&Cs that premium is based on the highest balance in the statement month, regardless of any subsequent repayment.Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
Sounds like he is stuck with it then. I will keep reminding him to cancel the PPI, and I am also trying to get him to change this card anyway. He's a bit stuck in his ways, and also doesn't really understand the policy!Beware the deadly donkey, falling slowly from the sky. You can choose the way you live my friend, but not the way you die. (Edward Monkton)0
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I said he SHOULD have been informed. Was he?Sounds like he is stuck with it then. I will keep reminding him to cancel the PPI, and I am also trying to get him to change this card anyway. He's a bit stuck in his ways, and also doesn't really understand the policy!Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
He has had the card for probably 15 years, so who knows!Beware the deadly donkey, falling slowly from the sky. You can choose the way you live my friend, but not the way you die. (Edward Monkton)0
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