PPI wording on credit card statement

blinxy

I have two credit cards with Halifax Bank of Scotland both that have repayment recovery charges. I've searched on google and realize that it doesn't always say PPI but can't find anywhere if recovery payment is indeed PPI.

I also read on several reclaim PPI sites that you may need some sort of plan to protect if your made redundant etc. so I'm confused have I actually paying PPI or if recovery payment is something different?

Thank you for reading this. I realize it's a silly question but can't find the answer online.

Aquamania

blinxy wrote: »

I have two credit cards with Halifax Bank of Scotland both that have repayment recovery charges. I've searched on google and realize that it doesn't always say PPI but can't find anywhere if recovery payment is indeed PPI.

I also read on several reclaim PPI sites that you may need some sort of plan to protect if your made redundant etc. so I'm confused have I actually paying PPI or if recovery payment is something different?

Thank you for reading this. I realize it's a silly question but can't find the answer online.

If you ever see any transaction, charge, etc on your account that you do not fully understand or recognise, you really should contact the card provider about it without delay.

Repayment recovery charges sounds like additional charges you have incurred because you did not make payments in line with the agreement, and the card provider incurred additional costs in attempting to enforce those payments (e.g. you moved and didn't tell them your new address, personal visits, etc)

But give them a ring, and I am sure they will explain.

blinxy

Thanks for response Aquamania. I did call and they have removed the charges from both cards effective immediately. I always pay the minimum amount due on both by direct debit every month so imagine it's some kind of insurance?

Just re read the statement it's worded as 'repayment cover' so maybe I do have a claim?

[Deleted User]

blinxy wrote: »

Just re read the statement it's worded as 'repayment cover' so maybe I do have a claim?

You don't have a "claim" unless you can somehow show that this insurance was mis-sold to you. If you have valid and (preferably) verifiable reasons for complaint then you may have a case for having the cost of the policy refunded to you.

Do remember that it is not automatically wrong to have an insurance policy.

WorkingGirl

blinxy wrote: »

Thanks for response Aquamania. I did call and they have removed the charges from both cards effective immediately. I always pay the minimum amount due on both by direct debit every month so imagine it's some kind of insurance?

Just re read the statement it's worded as 'repayment cover' so maybe I do have a claim?

So presumably you asked and they explained what they were for... :cool:

blinxy

Yes is was indeed insurance protection payments and I feel I have a claim. Especially one card which was a mastercard I received from Amazon through Halifax. I did it to receive a £15. Amazon voucher and no mention was made of payment protection insurance. The card then became just a Halifax card. So have downloaded the form and will file a claim. Will let you know how I get on with the claim.

DevCoder

Its a complaint not a claim.

The PPI would have been detailed on every statement whilst your credit card had a balance....