Capital One Confusion

GaryTravers

as the title probably states, im confused with capital one.

i was approved for a card, and was sent the documents to sign.

when i did, i didnt tick the payment protection box, and then waited about a week when another letter arrived,

the letter they sent;
"when you applied for a capital one credit card, you made a request for payment protection insurance. having reviewed the information you supplied to us, you have not fully completed the application form for thsi insurance and are therefore not currently covered by payment protection insurance..............

....... if your credit card application is successfull, we will tlak to you about payment protection insurance when you call us to activate your card"

so i rang and asked, giving them my name and details (as i didnt have an account number on the letter they sent), and the guy said that i was shown as having an open account with them, and that a card should be on its way......

can anyone think what is going on? is it likely i will have a card soon?

anyone else had something like this?

ontheup_3

when i got my C1 card i said i didnt want the card protection , when i recieved my card and activated it i got the hard sell on the protection and also get it every now and again too , if you dont want it i would just say no thanks in a nice but firm manner otherwise youll be there for 20 mins getting nagged at lol , the card takes around 3 weeks from application to reiceiving the card , hope this helps

bargains83

PPI is an absolute rip-off anyway and I can't understand why anyone would sign up to it. You are ususally only covered if you lose your job through no fault of your own, and it has to be a full-time job. Its unlikely you are covered if you are made redundant with notice given. There are strict restrictions on the payouts if you are hospitalised.

Capital One tried selling it me when I first got my card with them, as Im a student the insurance was absolutely useless to me and they knew I was a student because I told them so on the application. It didn't stop them with the hard sell though.

GaryTravers

going by the fact the guy on the phone said that i was shwoing as having an account with them, even if i said no to this payment protection would it affect the likelyhood of me getting the card itself?

the way i understand is my card is on the way right?

then i will activate it on the phone and get told a load of mumbo jumbo about the PPI and politely say no...

Moggles_2

Goldfish tried this wheeze on me as well. It's a nice little earner for the credit card companies.

A phone-call is all that's required to cancel payment protection insurance on credit cards.

even if i said no to this payment protection would it affect the likelyhood of me getting the card itself?

Not at all. Your decision not to buy this insurance has no affect on the lender's decision to approve your application for a credit card. The two things are quite separate.

newleaf

ontheup wrote:

when i got my C1 card i said i didnt want the card protection , when i recieved my card and activated it i got the hard sell on the protection and also get it every now and again too , if you dont want it i would just say no thanks in a nice but firm manner otherwise youll be there for 20 mins getting nagged at lol , the card takes around 3 weeks from application to reiceiving the card , hope this helps

Same here. I just repeated that I wasn't interested in PPI and they left it at that.

jojo1978_3

Signing up to PPI, is NOT a condition to getting the card.
On your credit agreement there are normally 2 boxes to sign, one for the credit card, and a separate box for ppi, which you normally tick and sign. It sounds like you have either ticked OR signed the box, which means you haven't signed up to it, but have expressed interest. You do NOT have to have PPI, but they will try the hard sell on you, when you call to activate the card, just stop them as soon as the conversation starts, save yourself 10 minutes of spiel/jargon.

GaryTravers

jojo1978 wrote:

....just stop them as soon as the conversation starts, save yourself 10 minutes of spiel...

haha, i'll keep it in mind.

thanks all.

GaryTravers

ok so after all the initial confusion things are sorted, lady on the phone was very helpful and didnt take offence to me not having PPI.

anyway, i now have a question about my credit limit;(do excuse me me if it comes across complicated)

when looking around for credit cards, i was gonna go for the sainsbury's visa card, as at the time it had a good offer on, however i was turned down, and had been turned down for a cc not so long ago aswell.

at the time i was unaware of getting my credit report and checking things over etc... so i went for a capital one, knowing i was alot more likely to get it.

from reading around in general, i know the things that the lenders like to see, and the things that are likely to get you the cards, and higher limits and so on, i have now recieved my capital one card, but have a low limit.

i am 20, and didnt have a home phone number to give, so i knew they would go against me, but i thought i was on the electoral role.

i have just received a council letter, so have many people i guess checking that their electoral role registers are up to date.

anyway it turns out that i am still on the electoral role at my parents address, not my current one, BUT i am moving back to my parents place in a months time.

would there be a way of letting them know of my changing circumstances that would also work in my favour for a better credit limit?

i know they give an increase after your fourth statement if you make a certain amount on purchases and dont miss payments by that time, but i mean anything else?

briona

Funnily enough I declined PPI on my Capital One card but they put in on anyway! Then yesterday [around 2 years since I opened the account], they sent me a letter with a PPI Policy document claiming that they failed to send me it originally due to an error, but are now offering me the chance to cancel the policy [that I never agreed to in the first place] and they will refund me everything I've paid to date! Fab!!!

Paul_Herring

briona wrote:

... and they will refund me everything I've paid to date! Fab!!!

With interest? I bet they don't. :rolleyes: