Credit card ppi

cranda11

Hi I have just realised that my Credit Card provider charges me Payment Protection Cover, and has done for years.

The main problem here is that, I have never been asked if I wanted it.

The only time I had discussions regarding PPI was when I was considering changing my credit card.

The worst factor here is that I pay my credit card bill off in full each month, never missed a payment in 10 years. However this month PP cover stood out like a sore thumb as I booked a holiday on my card and the months charge for the PP cover was £10.

Any recommendations ? The card provider is LLoyds TSB Duo (Amex/Mastercard)

Thanks in advance

Tixy

Well you can certainly cancel it going forward so you don't pay it anymore.

You might also want to have a look at the PPI reclaim section of the forum to see if you think you might have a case to reclaim what you have been charged - and to see how to make a claim -
Reclaim PPI & Other Insurance

This link is about Credit card PPI and when you may have a case for it being missold, which depends on how the card was opened. http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance

tomsco

If you don't mind me asking, how have you never before noticed that PPI was being charged to your account?

cranda11

tomsco wrote: »

If you don't mind me asking, how have you never before noticed that PPI was being charged to your account?

Because I know exactly how much I spend on my card each month and never read the detailed breakdown, just the final figure to make sure it was in line with my expectations, then pay it off in full.

I know thats bad and I have learnt my lesson. It just never occurred to me to check for something that I was unaware that I was being charged for.

leicsmarkyr

cranda11 wrote: »

Because I know exactly how much I spend on my card each month and never read the detailed breakdown, just the final figure to make sure it was in line with my expectations, then pay it off in full.

I know thats bad and I have learnt my lesson. It just never occurred to me to check for something that I was unaware that I was being charged for.

That sort of does not make sense really. If you spent say £500 in the month you would expect your balance to be £500 aswell that needs to be paid. But as you have PPI on it (let's assume the cost is £1 per £100 for ease of calculations) then your balance to pay would be £505. And thus not the same as your expectations!