RBS Credit Card PPI

Teapotty72

Hi

15 years ago I took out an RBS credit card, my ex has always paid the monthly payments but a couple of months ago when we split up i started to look after my own finances. I noticed on the CC statement we were paying PPI so I contacted RBS and asked them to cancel it immediately and to let me know why we had it (I applied for the card and it's not something I would have selected). I received a form to fill asking me to state my reasons for claiming they mis-sold. I sent it back explaining I wasn't saying they'd mis-sold merely that I wanted it cancelling and an explanation of why I had it. I've since had a call from a claims advisor asking if I wanted PPI stopping, I said yes and asked if she'd looked into why we had it. She said that her investigations show it was pre-selected and I wouldn't have been aware I had it when I applied. She stated I'd be receiving a letter in the next couple of weeks.

Now I realise that I've been stupid in not checking everything myself as it is clearly identified on the monthly statement as being optional, do you think there's any chance I could put in a claim? I've been paying approx £20 per month PPI for 15 years (usually have had around he 2-2.5k mark balance on the card).

[Deleted User]

A "claims advisor" cold called you and you asked them if they had "investigated" why you had PPI?

This doesn't sound like you were talking to the Bank, but a completely unrelated Claims Management Company.


If it was in fact the Bank, you should wait for the promised letter to arrive. If it's bonafide it sounds as if you've already had your "complaint" upheld.

Teapotty72

Hi

Thanks for your reply. No I wasn't cold called, I explained in my post I had contacted RBS and asked for an explanation as to why I had PPI. They were responding to that by telling me the reason I had it was "your application was preselected for PPI and you would not have been aware that it was added when you applied". My question is although they state I wasn't made aware when I applied does the fact that this is clearly stated on the monthly statements mean I would be wasting my time applying?

dunstonh

Now I realise that I've been stupid in not checking everything myself as it is clearly identified on the monthly statement as being optional, do you think there's any chance I could put in a claim?

it seems they have treated your contact as a complaint already, looked into it and found it was pre-selected. If that is the case, then you need not do anything.

[Deleted User]

Teapotty72 wrote: »

I had contacted RBS and asked for an explanation as to why I had PPI.

That sounds suspiciously like a complaint already and it looks as if the Bank have taken it that way too.

It was your reference to a "claims advisor" (banks don't have these) that caused me to question your post..

It's very unusual for Banks to telephone l with the result of such queries and even more unusual for them to admit that PPI was pre-selected.


Wait for the letter before proceeding further.

Teapotty72

Well the letter from the bank arrived today. They've made an offer of just short of £11k.

While this is amazing news I just don't understand how they've got their figures. For example I've paid over £400 in charges that they state I wouldn't have paid but the compound interest on these is only £2. These are old charges so surly compund interest would be greater than that. The card is still running and has always been at or near credit limit.

Nasqueron

Teapotty72 wrote: »

Well the letter from the bank arrived today. They've made an offer of just short of £11k.

While this is amazing news I just don't understand how they've got their figures. For example I've paid over £400 in charges that they state I wouldn't have paid but the compound interest on these is only £2. These are old charges so surly compund interest would be greater than that. The card is still running and has always been at or near credit limit.

PPI was typically around 70p per £100 of debt - the vast majority of your charges would have been from the interest on the balance and spending, the PPI would only have contributed a small part - they wouldn't refund you the full charge for going over the limit unless the PPI was the only element that took you over