credit card insurance

two_empty_pockets

Hi there.

Just wondering if someone in the know could give me help. After my girlfriend recently saw one off my credit card statements she pointed out that I'm paying an insurance of 79p per £100 on the balance and thinks this is ppi. After a telephone discussion with the bank they are saying its not ppi, it's card repayment insurance for if I become um-employed. Is this not the same thing? If so am I able to reclaim this as the credit card has been running since 2004, and I have actually been self employed for the last 3 years so wouldn't of benefited me anyway.

Any help or information from someone who has been in a similar situation would be appreciated.

Thanks

-taff

It's PPI.
Doesn't maytter if you're self-employed now, or inded that you're self employed because most PPI covers the self-employed.

It's your status at the time of the sale that's relevant, and how you bought it alos. If you bought it online or by post, then you bought it, it wasn't sold to you.

two_empty_pockets

It would have been when I took the card out in branch. I was 18 when I took out the card and was only earning about £100 a week so I wouldn't have knowingly paid for insurance if I was aware that it wasn't necessary, was optional, or that it was an ongoing thing. So is this the sort of thing ppi claim people thrive on? Can I reclaim it? or is it just lost money? Bank is HSBC and I've banked with them since 11 years old and always thought they could be trusted.

-taff

You don't claim it, you complain it was wrongly sold to you.
If you have a complaint, make one, and see what happens.

two_empty_pockets

Right. Well when I phoned them it was cancelled and She said she was doing something to get it investigated or something. Couldn't quite understand her through her strong accent. She said I'd receive an acknowledgement letter within 5 days. Does this mean the ball is rolling to see whether i can have it refunded? I saw there are some forms on MSE to do with PPI so do you think I should fill one in or wait for a response from the investigation?

Thanks for the help. I'm new to all this PPI and insurance stuff but am a strong believer of if it's mine I should have it. Don't even use the card machines where they charge you.

[Deleted User]

two_empty_pockets wrote: »

Don't even use the card machines where they charge you.

That's very sensible.

societys_child

Does this mean the ball is rolling to see whether i can have it refunded?

Yes

I saw there are some forms on MSE to do with PPI so do you think I should fill one in

Not necessary now.

or wait for a response from the investigation?

Yes

two_empty_pockets

Great. I can't believe I've been paying this for so long. I'm disgusted at how simple it was to charge without me even realising that this was in fact PPI... I'm trying to work out how much I've actually paid towards this. Does anyone know how to work it out roughly because when I search information it goes on about interest and all sorts and I just get lost. I've tried searching the forums but as I'm knew to this if someone knows of a link or something that could direct me that would be grand.

Thank you for responding and taking the time to help me on this.

-taff

I wouldn't bother unless you have all of your statements.

Wait and see what the decision is.

two_empty_pockets

Right, so i received a letter on the 13th Dec saying that i will receive a response by 17th Jan. Then received a letter on the 18th Dec with a PPI reclaim form. Does anybody know if this is normal as they sent the form after they said i would receive a full response...

[Deleted User]

If you've sent a PPI complaint form already then this sounds like it's been sent in error. However, if you haven't filled in the Ombudsman's Questionnaire then you should complete and return this.