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Barclaycard PPI
Jugs
Posts: 111 Forumite
Hi, I am waiting for an offer from Barclaycard which sould be due any day - based on the 12 week rule, but last week i have some money credited to my credit card. It said insurance and then two other payments for interest. I presumed it was my settlement, even though i had not had the letter, then today the same amounts were debited from my credit card ?!?!
Has anyone else had this happen ?
Has anyone else had this happen ?
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Comments
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That is quite normal. The refund is initially being made to the place that paid it. However, most people want a cheque. So, they take it off again to allow a cheque to be issued.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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They credit it to the card to see if the account would have been in credit if the PPI payments had been applied ot the card.
Then they send you a cheque.Non me fac calcitrare tuum culi0 -
Would that make a difference to your settlement ? What if the credit card was still in debit ?0
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You wouldn't get any interest on the PPI payments, only the 8%Non me fac calcitrare tuum culi0
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Oh I see, thanks for your help.
Just on another point, if you think the refunded PPI payments are a lot less than you have paid is it worth querying it ? Or should I just accept the offer ? And if they send me the cheque before I get my offer letter would that make it harder to reject it ? I mean I thought they had to give you time to accept or reject it ?
Thanks0 -
You can request a breakdown of their calculations and, of course, you don't have to bank the cheque if it doesn't meet your expectation or entitlement.0
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Do you have a transaction history showing the payments and dates?
It's possible you may be able to work it out using the examples on the FOS website. Alternatively there are a number of redress calculators about. This should give you a fairly close figure of what you'd expect, if the redress is fairly close then you know to accept it.Competition wins:
2010 - approx £450. 2011 - approx £800. 2012 - approx £300. 2013 - nothing so far!0 -
Hi, have you heard any more from BC, my other half has had the same happen to him, we are at 15 weeks from the FOS telling BC that we would accept their offer, thanks0
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