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Very new to PPI and quite confused!
JkM
Posts: 1 Newbie
Hello all,
I'm hoping you lovely people might be able to shed some light on a claim I have made for PPI on a Nationwide credit card. I had the card for around 2 years and had a maximum of around £2200 on it. Nationwide have offered me this:
Refund of premiums £134
Interest at card rate £9.34
Interest at 8% on any credit balance £110.52
(Interest calculate for a period of 28 days)
Total £254
I have no idea whether this is a reasonable offer or if I'm being horribly naive in accepting it. Does anyone have any thoughts/experience which may help? Thanks very much in advance, all advice gratefully received!
JKM
I'm hoping you lovely people might be able to shed some light on a claim I have made for PPI on a Nationwide credit card. I had the card for around 2 years and had a maximum of around £2200 on it. Nationwide have offered me this:
Refund of premiums £134
Interest at card rate £9.34
Interest at 8% on any credit balance £110.52
(Interest calculate for a period of 28 days)
Total £254
I have no idea whether this is a reasonable offer or if I'm being horribly naive in accepting it. Does anyone have any thoughts/experience which may help? Thanks very much in advance, all advice gratefully received!
JKM
0
Comments
-
Only you (and the Bank) know how much credit card PPI you actually paid.
PPI on credit cards was dependant on the actual balance on the card. The more you owed, the more PPI you paid. For months when you had no balance no PPi was payable.0 -
The refund method is defined and the calculation is shown to you. Do you have any reason to believe that the £134 in premiums is wrong?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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