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ROP through Vanquis Bank
dollydaydreames
Posts: 1 Newbie
in Credit cards
Hi - I've seen some discussions going back to 2012 regarding ROP through Vanquis Bank and was wondering if anybody had any new information regarding it. I ask as have only just realised I have been paying for it for years without me knowing I had it. Has anybody tried to reclaim it like with PPI ?
0
Comments
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I believe not. It's technically different to PPI as it freezes interest rather than making payments for you.0
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An investigation by the OFT dates back to 2011 in fact but nothing really came out of that. The main objection to PPI was that it was required as a condition or that it was mis-sold, for example unemployment insurance sold to old age pensioners. However ROP is fundamentally different in that it is a clear option and the two variants of freezing interest or taking a payment holiday applies to most people. Incidentally, no I don't have it.0
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