Reclaim of Credit Card Insurance

Euan101

I had a credit card from Egg for 6yrs, recently moved it to 0% as they upped the interest rate to 26% and thanks to advice on here, getting a handle on being better with cards etc.

Anyway, on closing the account I noticed that Egg had been charging me for PPI on the card, when I queried when this was taken out they said March 2003, 3 months after I opened the account. I also asked if I had taken this out when I opened the account and they said no.

No I have no recollection of ever agreeing to that and yes I'm aware I should have noticed it but I never confessed to being great with my cards, it's only in recent months I've gotten a lot better.

My question is, can I claim this back? I've been told to write to Egg Customer Relations to dispute the amount. Last month alone the charge was £34 so over 6yrs we're not talking about a small amount here. I've drafted this letter and also posted on Credit Cards Forum but any advice would be greatly received.

"Dear Sir/Madam,

I have recently closed my credit card account with Egg after some 6yrs, in doing this I have discovered that you have been applying a credit card protection payment to my account since March 2003. I have no recollection of ever asking for this or signing for this payment protection and I would request a copy of the document or reference where I agreed to this. On the phone call with one of your staff last week, I asked if this was taken out at the same time as the credit card and I was told no, it was taken out at a later date.

If this is something which you cannot produce or have no record of then I would like the monies refunded to me as well as any interest which would have been applied over this period. Failure to respond to this request or a satisfactory outcome will result in an official complaint to the Financial Ombudsman and I note with interest that Egg have already been fined for mis-selling of Payment Protection Insurance already."

Euan

di3004

Euan101 wrote: »

I had a credit card from Egg for 6yrs, recently moved it to 0% as they upped the interest rate to 26% and thanks to advice on here, getting a handle on being better with cards etc.

Anyway, on closing the account I noticed that Egg had been charging me for PPI on the card, when I queried when this was taken out they said March 2003, 3 months after I opened the account. I also asked if I had taken this out when I opened the account and they said no.

No I have no recollection of ever agreeing to that and yes I'm aware I should have noticed it but I never confessed to being great with my cards, it's only in recent months I've gotten a lot better.

My question is, can I claim this back? I've been told to write to Egg Customer Relations to dispute the amount. Last month alone the charge was £34 so over 6yrs we're not talking about a small amount here. I've drafted this letter and also posted on Credit Cards Forum but any advice would be greatly received.

"Dear Sir/Madam,

I have recently closed my credit card account with Egg after some 6yrs, in doing this I have discovered that you have been applying a credit card protection payment to my account since March 2003. I have no recollection of ever asking for this or signing for this payment protection and I would request a copy of the document or reference where I agreed to this. On the phone call with one of your staff last week, I asked if this was taken out at the same time as the credit card and I was told no, it was taken out at a later date.

If this is something which you cannot produce or have no record of then I would like the monies refunded to me as well as any interest which would have been applied over this period. Failure to respond to this request or a satisfactory outcome will result in an official complaint to the Financial Ombudsman and I note with interest that Egg have already been fined for mis-selling of Payment Protection Insurance already."

Euan

Hi Euan

Yes you can try claiming this back.

Good luck with this and if you need any help, just let us know.

(Post by recorded delivery as well).;)

MrsTinks

Is there not a standard letter for this? Sorry I kinda followed euan over here from another board and I could have sworn there was a letter for this... lol not my area though and feeling a little out of my depth away from my DFW's :rotfl:

di3004

MrsTine wrote: »

Is there not a standard letter for this? Sorry I kinda followed euan over here from another board and I could have sworn there was a letter for this... lol not my area though and feeling a little out of my depth away from my DFW's :rotfl:

Hi there
And not a problem, sorry I should have added the link on the post above, but check this out here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

There is some useful PPI info and a letter template letter on the link you can use, although I would try to use your own words if you can, not for it to look like a standard template that they are used to receiving.
They have 8 weeks to respond in full, another letter maybe required if not successful first time round, or until you exhaust their complaints procedures, they should confirm this in the final response letter with details of the Financial ombudsman service, if eligible to take your complaint to them to be investigated.

Post by recorded delivery, let us know how you get on, so we can try to help in any way if required, good luck.;)