Capital One - Some Advice Needed

Blythy

Evening All,

I'm after a bit of advice if possible.

I've had a Capital One card since 2006 to the best of my knowledge and paid the statement every month however this has always been done online.

Tonight for the first time I clicked onto one of the full statement PDF's and realised that I have been paying PPI every month for as long as it would let me go back.

I know that its my own fault for not checking these more closely which is a lesson learnt however despite it being potentially 8 years since I have had this it doesn't stand out as something I remember signing up for - so much so that I was actually made redundant a few years back and didn't claim against it (if I had know I had it I actually potentially would have)

The problems I have are -

1) Will it go against me that I haven't raised it till now - despite it being sat on my internet statement

2) With it being so long ago and me not knowing exact dates and a guesstimate on the year will this also cause problems.

Has anyone else been in a similar situation or should I just cut my losses and not claim.

Thanks in advance!

[Deleted User]

Blythy wrote: »

Will it go against me that I haven't raised it till now

Of course.

SimonSays

If your paying in full wouldnt the PPI charge be 0?

blackbird777

Hi

Have a look at Martins guide for claiming back PPI. There are templates you can use for sending to the company you were with.

Don't be put off by the fact that you are over the current 6 years and pursue it anyway. I claimed on a loan that I settled in 2005 and went through the Financial Ombudsman Service. It was worth the wait as we got £19000 (includes interest at 8%) back and we were glad that we stuck with it. Be strong and keep any documentation you currently have and any paperwork you have in relation to settling your outstanding balance. Do NOT go through one of these companies that say they will help you claim it back...it will cost you....we didn't thankfully as they would have taken 25% of our settlement. There is no harm in trying and although you thee is a slightly lower chance of getting a pay-out, stick with it. It took us nine years to get back what was rightfully ours and if we hadn't pursued then Barclays would have been laughing..now we are!!

[Deleted User]

blackbird777 wrote: »

Don't be put off by the fact that you are over the current 6 years and pursue it anyway.

Yes, the only problem is complaining that he didn't know anything about the insurance for all these years is not a very credible complaint as it appears on every monthly statement. The OP needs a stronger complaint.

SimonSays wrote: »

If your paying in full wouldnt the PPI charge be 0?

Yes, it's possible to have a PPI policy on a credit card and actually pay nothing if the account was in credit (not debit) each month.

-taff

|Capital One have the lowest upholdrate because their sales practices were quite good.

Having said that, there's nothing stopping you complaining, and being unaware of having it is a weak reason really, not using when you were redundant would lend credence tot hat argument, so don't forget to mention it.
If you still have it, check your credit report, it should be on there what date it started.

As has been said, if you pay the balance off in full every month you won't have paid any, but it only appears on a statement if it has a positive balance, so you must not have otherwise you wouldn't have seen it.