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Is PPI always on historic statements?
bluep
Posts: 1,302 Forumite
Which credit card companies didn't itemise out PPI on their statements years ago? Anyone come across any examples?
I have had a myriad of credit cards since 2000 e.g.EGG, Mint, M&S, Barclaycard, Tesco, Ikano, MBNA...and can't honestly remember if I saw PPI on statements or not but due to my personal circumstances throughout the period, I wouldn't have agreed to it and it would have been missold (I was a student and then had extensive other cover). I've got a template letter where I've told each company when I had a card with them and asked them to check if PPI had been added...but I'm interested if from a certain date it had to be itemised out or whether PPI was often hidden?
I have had a myriad of credit cards since 2000 e.g.EGG, Mint, M&S, Barclaycard, Tesco, Ikano, MBNA...and can't honestly remember if I saw PPI on statements or not but due to my personal circumstances throughout the period, I wouldn't have agreed to it and it would have been missold (I was a student and then had extensive other cover). I've got a template letter where I've told each company when I had a card with them and asked them to check if PPI had been added...but I'm interested if from a certain date it had to be itemised out or whether PPI was often hidden?
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Comments
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PPI has always been itemised on credit card statements.0
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How would the balance increase if there was not a transaction to increase it?
Hence, why it does show on the statements when it is being paid.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 -
As above ^.or whether PPI was often hidden?
Think about it, how could it be hidden on a CC?
The purchases made on the card wouldn't add up to the total shown.0 -
societys_child wrote: »As above ^.
Think about it, how could it be hidden on a CC?
The purchases made on the card wouldn't add up to the total shown.
There was a situation for a brief period for 1 bank did actually miss off the PPI and so the balance didn't add up but aside from that, yes the statement would show all PPISam 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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