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Capitol One PPI... how can I prove it?
icklesurfer
Posts: 54 Forumite
In about 2003 I took out a Capitol One credit card on line. I was earning decent money but I was young and maxed it out. They increased my limited and I maxed that out too (worlds stupidest person right here :j)
Anyway when I took our the card I clicked yes to PPI and so I accept that I wasn't technically 'missold' as I selected 'yes' to having it (after a very scary pop-up dangling all sorts of 'what if the worst happens' scenarios in front of me.
But as I maxed out the card and was struggling to repay I called Capitol One and asked to remove the PPI so that I could pay down the balance. They transferred me to a very pushy gentleman who reeled off these stats that suggested that I was getting a discount in my APR because I had the PPI and removing it would increase my APR and minimum payment and therefore I was better off keeping it. So I did.
Now when I came to try and reclaim my PPI Capitol One declined and when I complained to the FO they advised that Capitol One have no record of this conversation that took place.
Has this happened to anyone else's? What did you do?
To be clear, I accept that I may not have been Miss sold PPI in the beginning but surely the APR conversation is case for a PPI refund from that point? Any help gratefully received.
Anyway when I took our the card I clicked yes to PPI and so I accept that I wasn't technically 'missold' as I selected 'yes' to having it (after a very scary pop-up dangling all sorts of 'what if the worst happens' scenarios in front of me.
But as I maxed out the card and was struggling to repay I called Capitol One and asked to remove the PPI so that I could pay down the balance. They transferred me to a very pushy gentleman who reeled off these stats that suggested that I was getting a discount in my APR because I had the PPI and removing it would increase my APR and minimum payment and therefore I was better off keeping it. So I did.
Now when I came to try and reclaim my PPI Capitol One declined and when I complained to the FO they advised that Capitol One have no record of this conversation that took place.
Has this happened to anyone else's? What did you do?
To be clear, I accept that I may not have been Miss sold PPI in the beginning but surely the APR conversation is case for a PPI refund from that point? Any help gratefully received.
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Comments
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Now when I came to try and reclaim my PPI Capitol One declined and when I complained to the FO they advised that Capitol One have no record of this conversation that took place.
Cap One didnt record calls until relatively recently.
Nothing you can do without evidence to support your allegation. Although, if it was true that they offered better terms for having PPI (which some did) and you agreed to keep it then that doesnt make it missold (from the second period after this).Has this happened to anyone else's? What did you do?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 -
PPI was a very small amount of your credit, typically 70-80p for £100 of debt, removing the PPI element would have many little difference vs say a hardship claim and interest freeze or even claiming on the PPI
Sam 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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PPI was a very small amount of your credit, typically 70-80p for £100 of debt, removing the PPI element would have many little difference vs say a hardship claim and interest freeze or even claiming on the PPI
Sure, but even the £30 that you were paying in PPI would have been better spent in reducing the balance.0 -
There is little point berating others for their responses because they are not "Constructive".
The fact remains that the Bank has rejected your complaint and this decision has not been overturned by the Ombudsman. You can't prove any of your allegations and the remaining available evidence (sales script etc) does not support you either.
The blunt truth is that your complaint is now over.0
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