Capital One PPI

kas7371

I wonder if anyone can recommend my next step (if any)
I wrote to Capital One regarding missold PPI and unsurprisingly they have refused my claim.
Basically I had a call from CO suggesting I take out PPI covering unemployment and sickness, as at the time I had a large balance on my card. I told them I was in full time employment and did get full pay if I was off work through sickness. They suggested that even though this was the case the extra money would be useful should the need ever arise. I took out the policy and all was well until a few years later I took out a mortgage and the same question arose about PPI. This time the Bank told that I couldnt have PPI due to the fact I was employed by my Sisters company and that I wouldnt be covered for unemployment. This started alarm bell ringing so I checked my CO policy and indeed it stated that as I was employed by a family firm my claims would be limited to sickness only. When I called them to asked they confirmed this was the case and I cancelled the insurance and paid off the card (account now closed).
I feel a little agreaved that I paid a lot of money over the years and should I have needed the policy it would have been limited. I know I should have really studied the small print in the T&C's at the time but I guess I am not alone in not doing this. Any advice would be gratefully received

Thanks

Shaun

galtek

you now need to to the FOS as the same thing happened to me. The took on my case as I was also in full time employment with sick pay therefore CO would not have given any financial support. I have just received a reply to say that I was being refunded £3,750. Go for it and good luck

galtek

can anyone tell me what payment will be offset against any overlimit amount or defaulted balance on my account. does this mean that a large amount of the money will be deducted as I went over my limit twice and got 2 default payments of 12. Is the defaulted balance is balance that is left on my account and will this be paid out of the refund

TeresaFrance

We took out a Capital One credit card years ago, and had sickness and unemployment cover on it, for which I think we paid about £4 per month. In 2003 we moved to France, all with the knowledge of Capital One, as all our correspondence from them came to that address. However, it wasn't until a few years later that they sent a letter stating that we would not be able to make any claims on this as we lived abroad, and so they cancelled it. Can we claim for mis-sold PPI for all the payments they took from us knowing this fact? We have no paperwork on this now.

-taff

galtek wrote: »

can anyone tell me what payment will be offset against any overlimit amount or defaulted balance on my account.

It can be used to set off against any defaulted amount owing, yes.

-taff

TeresaFrance wrote: »

We took out a Capital One credit card years ago, and had sickness and unemployment cover on it, for which I think we paid about £4 per month. In 2003 we moved to France, all with the knowledge of Capital One, as all our correspondence from them came to that address. However, it wasn't until a few years later that they sent a letter stating that we would not be able to make any claims on this as we lived abroad, and so they cancelled it. Can we claim for mis-sold PPI for all the payments they took from us knowing this fact? We have no paperwork on this now.

You didn't live abroad at the time of sale. It was up to you to check you were covered abroad.
You can make a complaint/ask them to refund your payments but they don't have to.