Unexpected Halifax inviting me to make a PPI claim for commission......

stugall

Hello guys and girls

Well, unexpectedly had a letter from the Halifax saying I could make a new type of complaint as "you could now receive some money back if we took a high level of commission on your PPI policy but did not tell you this when you bought it..."

I did have a credit card with the Halifax some time ago, with a credit limit I think of circa £3K but cancelled it after about 4 years, so I am wondering is it worth pursuing it or are the sums paltry?

Anyone had a similar letter of feel it is worth pursuing?

Cheers
Stu

[Deleted User]

Similar Plevin thread answered here..
https://forums.moneysavingexpert.com/discussion/comment/73143036#Comment_73143036

dunstonh

I did have a credit card with the Halifax some time ago, with a credit limit I think of circa £3K but cancelled it after about 4 years, so I am wondering is it worth pursuing it or are the sums paltry?

The sum is likely to be paltry. It is possible that the response will be zero. However, they are inviting you to raise it and its costs you no more than a stamp.

most credit card PPI is expected to be in the 35% to 65% commission range. They only have to refund the excess above 50%. e.g. if the commission rate was 49%, then you get nothing. if it was 52%, then you get 2% of the premium paid refunded, plus interest.

Lots of these letters are going out because they have to send them.