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Could my credit cards have PPI if I am not paying any fee
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TwoSeniorCitizens
Posts: 31 Forumite
I have a Mastercard and Lloyds Duo Credit card but I am not paying any fees. In fact I pay it off every month so no interest is due, so it costs me nothing. Is it still possible that the cards had PPI and therefore could I claim. If so how do I check that is the case.we are very ignorant in these matters but a neighbour suddenly got a cheque for just over £1000 and she did know she had had PPI on her credit card. Thank you
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If you have PPI and an outstanding balnce any month, there'll be separate line in your staement detailing the payment.
If you have PPI and you pay your card off every month, you do not pay PPI.
To find out if you do have PPI even if you haven't paid any, phone your CC company and cancel it if you want to.
In your case, even if you do have PPI you won't have paid any.Non me fac calcitrare tuum culi0 -
TwoSeniorCitizens wrote: ». In fact I pay it off every month so no interest is due, so it costs me nothing
So no PPI would ever be paid as it was only ever charged if you had an outstanding balanceTwoSeniorCitizens wrote: ». Is it still possible that the cards had PPI and therefore could I claim.
In the season of goodwill I won't respond to thisTwoSeniorCitizens wrote: »If so how do I check that is the case.we are very ignorant in these matters but a neighbour suddenly got a cheque for just over £1000 and she did know she had had PPI on her credit card. Thank you
You don't. Your neighbour simply never read her statements as each month it would say something like "PPI premium £x" on every monthSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Is it still possible that the cards had PPI and therefore could I claim.
If you have never paid any PPI (as balanced cleared each month), then what would be complaining about?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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