PPI on a RBS CC

Barum_Dave

Hi,

Sorry to probably ask the same question that has been answers a million times before but I have a few queries.

I took out a RBS CC years ago when I was 18 (approx 1996). After a year or so I was asked in to go through my finances with a bank rep. The woman seemed nice enough but I was very naive and advised me that I didn't have the best deal on my CC and I should change to another in their range. I agreed and she filled the form out and passed it to me to sign. Although it was a long time ago I can remember that she was training a young chap about my age at the time. At no point was I asked about any worries I may have about repaying the card and the woman new all about my circumstances at the time as the RBS was my familys business bank as well (I worked for the family business). I was never asked about any insurance at all.

I used the card and still have the same account (my only CC). I didn't take much notice of it and never really scrutinised my statements but last year all this fuss was being kicked up about PPI and I saw that it was being applied to my card. I cancelled it immediately (they did not want me to!). Now thanks to the media making me much more aware I am quite angry that this was imposed on me however I do have a worry that:

1) I took it out so long ago that it wasn't considered mis selling at the time so I have no chance. I have no paperwork other than recent statements.

2) The bank may cancel my account and demand full repayment of the account, something that I cannot afford to do.

Could anybody help me with some advice?

Thanks

D

di3004

Barum_Dave wrote: »

Hi,

Sorry to probably ask the same question that has been answers a million times before but I have a few queries.

I took out a RBS CC years ago when I was 18 (approx 1996). After a year or so I was asked in to go through my finances with a bank rep. The woman seemed nice enough but I was very naive and advised me that I didn't have the best deal on my CC and I should change to another in their range. I agreed and she filled the form out and passed it to me to sign. Although it was a long time ago I can remember that she was training a young chap about my age at the time. At no point was I asked about any worries I may have about repaying the card and the woman new all about my circumstances at the time as the RBS was my familys business bank as well (I worked for the family business). I was never asked about any insurance at all.

I used the card and still have the same account (my only CC). I didn't take much notice of it and never really scrutinised my statements but last year all this fuss was being kicked up about PPI and I saw that it was being applied to my card. I cancelled it immediately (they did not want me to!). Now thanks to the media making me much more aware I am quite angry that this was imposed on me however I do have a worry that:

1) I took it out so long ago that it wasn't considered mis selling at the time so I have no chance. I have no paperwork other than recent statements.

2) The bank may cancel my account and demand full repayment of the account, something that I cannot afford to do.

Could anybody help me with some advice?

Thanks

D

Hi there

Do not worry about not having paperwork as such, just as you have your account number of the CC and your reasons your free to try to reclaim.

Just complete the reclaim questionnaire as on step 3 below, keep copies as well, send to the head office or complaints dept of that bank and allow 8 weeks for a decision, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#step3