Barclaycard Refund Offer

Mal79_2

Hi all, I have been persuing a claim to get back the ppi I was mis-sold on my Barclaycard - the background is that it was just added to my statemtent without discussion, at the time and for a while after I was unemployed and on incapacity benefit. Anyway I sent off the letter saying all this and got a standard response with a form to fill out with more info, again filled this out and in about a week I have received a letter offering me over £5,000 refund. So you are wondering what is my question, they have stated in their letter that they are going to just knock this amount off my card balance, is this the standard practice? I have had to find all that money each time and I know as soon as they do that they will also drop my credit limit so it just seems like they win (though I'm fully aware that it gets my balance almost cleared). Any advice, experiences appreciated. Thanks, Mal

marshallka

If you have arrears on the account then they are allowed to do this and FOS also accepts it. As regards them winning on this its not the same as with a PPI on a loan account whereby you pay the PPI monthly within your loan repayment, on a credit card its often that in your position you have probably only made the minimum payment each month and the PPI was added to your balance. You have won really as your minimum payment will be lower now and also your debt is reduced. Well done.

Turboman

Mal79 wrote: »

Hi all, I have been persuing a claim to get back the ppi I was mis-sold on my Barclaycard - the background is that it was just added to my statemtent without discussion, at the time and for a while after I was unemployed and on incapacity benefit. Anyway I sent off the letter saying all this and got a standard response with a form to fill out with more info, again filled this out and in about a week I have received a letter offering me over £5,000 refund. So you are wondering what is my question, they have stated in their letter that they are going to just knock this amount off my card balance, is this the standard practice? I have had to find all that money each time and I know as soon as they do that they will also drop my credit limit so it just seems like they win (though I'm fully aware that it gets my balance almost cleared). Any advice, experiences appreciated. Thanks, Mal

If you really know what you are doing--you can also go for a return of the interest charged due to the PPI part of the balance--its complex though-involves inserting some of our specialist spreadsheets the PPI, the interest that month, & the present balance--just thought I'd mention it--you really do have to understand it though else they would blow you away

Thought I'd do a post as my mate's here-lol