Capital One Idiots

liverpool1988

Hi,

had this reply from capital one today just wondering what i can do here

Thank you fr writing to us about your account. I understand you feel that we have mis sold ppi to you.

Your comments are correct in that Capital One were fined by the FSA regarding the sale of PPI. As part of our resolution to the issues identified by the FSA, we wrote to all the afected customers and offered them redress that enable them id like to assure you that your account was not one of the ones affected so we have not contacted you about this. (IM SURE THEY SAY THIS TO EVERYONE. AND HOW DO THEY KNOW MY ACCOUNT WASNT AFFECTED???)
We sold the PPI to you during a telephone conversatoin in JUNE 2004 capital one ensures that our telephone scripting is clear, fair and not misleading. Your were asked for if you would like to heard the limited version of the terms and conditions whilse on the call, and to receive full details in the post. The limited version of term and conditions disclosed during the call were designed to enable you to make an informed choice about the product by including reference to all the significant exclusions of the policy. The product is opetional and this was made clear to you. (Firstly if they made it clear and fair why where they fined!!!!!?

Questions are asked to determine eligibility for PPI product during the telephone call. You received the full policy document which included full terms and conditions and policy summary immediately afret the conclusion of contract. This contains a full list of excluions you also reeived a certificate of insurance which sets out cost and start date of the policy

Capital one is not authorised to provide advice in relation to insurance products. Capital one would not therefore have made a recommendation that you should take out ppi or advised you that the product was suitable. (AGAIN IF YOU REALLY FOLLOWED THIS MORAL CODE THEN WHY WERE YOU FINED????)
You received a 30 day cooling off period which you could cancel free of charge. (Was never made aware of this
Capital one has procedures in place to monitor the sale of PPi over the telephone. Our assosiate use scripts and are trained to avoid giving advice to customers. We understake quality checks to ensure sales are being made in a compliant manner/ (Again contradicting themselves if they had such a strict compliance code then why where they fined for gross mis selling to customers who all complained of the same thing!!!!)
As we have sold you the ppi correctly and in accordance with your request we will not refund any of the premiums.



This to me is pure idiotic this company has been fined for mis selling ppi to customers and they are saying that my policy in particular afer me knowing i was mis sold on the phone after being told that i needed it to complete the credit agreement. All of a sudden they follow the rules.

Should i ring them and argue the case over the phone or put this all in writing?

Any help is greatly appreciated.

Cheers.

pinknico

Keep it in writing but with Capital One you will probably end up having to go the FOS route.

liverpool1988

I know i have a case because i specifically remember being told that i need to take this to get the card!

pinknico

Have you asked them for a copy of the phone call?

liverpool1988

No i didnt realise i could do this.

pinknico

You can if you want, they will probably say they havent got it and then its game over for them as they have to prove you weren't mis sold.

So choices are ring/ write and say you dont agree with their response and you would like a copy of the phone call to prove your case.

Or write and say you dont agree with their decision could they please send their final response as you would like to take your claim to the FOS.

liverpool1988

Im goint to give them a call now thanks very much.

liverpool1988

turns out you cant talk to them through the phone you have to write in so getting the letter sent off today.

pinknico

Look forward to hearing their reply.

PaulinWeston

If you think you have a claim keep at them - Take care thou because if you rely on the issue of the 'fine' then you aren't covered. The Fine relates to some PPI policies sold between Jan 2005 and April 2006.

http://www.fsa.gov.uk/pages/Library/Communication/PR/2007/022.shtml

Your policy was sold in June 2004 (from what you say) so Cap One will argue that the fine/findings from the FSA do not apply to your account.

jos004

You’re right. Capital One do like to contradict themselves. I recall being told in 2004 I would have to take out PPI cover, in order to get a credit card. At first they refused to refund anything. I filed a complaint with the FOS then received my SAR late September, which included a letter dated 31st July in which Cap One offered me a partial settlement, although I did not receive their original letter, making such offer. Now Capital One were adamant they had not mis-sold me PPI then they make an offer: roughly half the total amount. Admitting guilt I think. I wrote back to them, early October ’09 telling them how much I would accept and told them I did not receive their original letter, dated 31st July ’09.


Boy this postal strike!