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Understanding my statement: PPI or CPP
funkydunk
Posts: 4 Newbie
Hi all, new to the forum. Had a look around to see if I can see an answer (have found so many just searching from outside) but cannot, hence the post.
I am struggling to understand what is on my card. I have read that CPP costs approximately £35 per annum but my card statement shows monthly payments for payment protection that vary and total much greater than the £35 per annum I have seen suggested. Is this all covered by the CPP claim or is there a PPI element here also?
Apologies if this is already answered and thanks in advance.
I am struggling to understand what is on my card. I have read that CPP costs approximately £35 per annum but my card statement shows monthly payments for payment protection that vary and total much greater than the £35 per annum I have seen suggested. Is this all covered by the CPP claim or is there a PPI element here also?
Apologies if this is already answered and thanks in advance.
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Comments
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The varying amounts of PPI will be associated with the balance on your account .
If your balance on your card is fully paid off monthly then PPI would not be shown, once you have a balance that accrues without being paid a percentage of PPI is charged . Someone correct me if I am Wrong but that is my understanding on why there are varying amounts monthly.Light travels faster than sound.
This is why some people seem as bright until you hear them.0 -
The varying amounts of PPI will be associated with the balance on your account .
If your balance on your card is fully paid off monthly then PPI would not be shown, once you have a balance that accrues without being paid a percentage of PPI is charged . Someone correct me if I am Wrong but that is my understanding on why there are varying amounts monthly.
so this element is not CPP (which i deinitely have due to receiving forms) but PPI?0 -
If you CPP is £35 a year, then yes, any other protection type worded payment that's charged monthly and changes according to your balance is PPI.Non me fac calcitrare tuum culi0
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so this element is not CPP (which i deinitely have due to receiving forms) but PPI?
Yes if you have a payment protection element payable on your account it is PPI , did you not know this was on your account ?Light travels faster than sound.
This is why some people seem as bright until you hear them.0 -
Yes if you have a payment protection element payable on your account it is PPI , did you not know this was on your account ?
assumed it was the CPP, so no. I don't even recall taking it out.
went paperless statements and am trying to access the ones over 6 months but not letting me at the moment. Need to get into the habit of downloading each month.0
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