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What interest should I receive for store card PPI? DP/Genworth
GLB_2
Posts: 2 Newbie
Hi - I wonder if anyone can help answer my question. This is the first time I've posted so hopefully this wll work!
I am in the process of claiming back PPI on behalf of my Mum and, after writing to Santander then FOS then Genworth, we finally received an offer for a reimbursement of the premiums paid plus 8% simple interest.
However, these premiums were added to the total balance of the store card each month and there was a very high interest rate being paid on this balance. Therefore should we not receive this interest back too (i.e. the additional interest that was paid as a result of the premiums?) Or do store cards only calculate interest on purchases and not on the total balance?
I would be really grateful of any thoughts/answers.
Many Thanks!
I am in the process of claiming back PPI on behalf of my Mum and, after writing to Santander then FOS then Genworth, we finally received an offer for a reimbursement of the premiums paid plus 8% simple interest.
However, these premiums were added to the total balance of the store card each month and there was a very high interest rate being paid on this balance. Therefore should we not receive this interest back too (i.e. the additional interest that was paid as a result of the premiums?) Or do store cards only calculate interest on purchases and not on the total balance?
I would be really grateful of any thoughts/answers.
Many Thanks!
0
Comments
-
Sounds correct, you get back the PPI paid plus 8%0
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