Barclaycard ppi

Poundsigns

Hi

Really looking for some advice on my old Barclaycard!

I applied for one in 1998, my first card, was stupid and excited about going on holiday etc so maxed it out straight away and it pretty much stayed maxed out (£2000) for the next 10 years!

I had ppi on it and did query it on the phone in 1998 and on a couple of other occasions over the phone but was made to believe it was a necessary payment I needed to make to have the card, at the time I was gullable and felt I had to keep Barclaycard happy as my card was maxed out! I now feel angry at how I was spoken too and they should've cancelled the ppi when I asked as I stared it did not benefit me and I simply did not want or need it!

So my query now is, they have refused my ppi claim (made in 2015) and I cannot open that up without new evidence (I am awaiting my sar info they have)! However, they have sent me a cheque for £2300 under the Plevin ruling that they took more than 50% commission on my ppi payments!

I am extremely grateful for this cheque and really do not want to appear greedy but on reading other people's compensation amounts I just want to know if Barclaycard are trying to start me as it all felt a little to easy!

I would be very grateful if anybody can tell me if £2300 is a fair amount on a maxed out Barclaycard balance (£2000) for 10 years, monthly payments of £45-£100 for all of those years! I did go into arrears at points and the charges were hundreds and they never once stopped my ppi to help! My monthly payment of £45 never made my balance go any lower, it basically just covered ppi etc!

Thanking you in advance!

[Deleted User]

Poundsigns wrote: »

I just want to know if Barclaycard are trying to start me

May just be that your batteries are getting low?

The redress will be to a defined calculation - so it's either fair nor unfair. It just is what it is.

You;re out of time to escalate to FOS now.

Poundsigns

It is meant to say shaft! Predictive text changing my wording!

Anyway, not a particularly helpful response, the figure is an estimated calculation and obviously it is either fair or unfair, that is my point! I wanted to know if it was fair so hopefully somebody else will help!

BoGoF

How do you know it's an estimate? Plevin refunds are calculated on the amount of commision paid.

The fact your cards were maxed out and incurring fees is totally irrelevant.

amersall

They have made a ruling due to Previn.

You will have to wait for the Sar and see how much PPI you actually paid if you want to know if the calculation is correct.

On a maxed out balance, the monthly payments you made would have included charges, the monthly payment and the PPI, you only got the 50% commission that they took for the PPI, you need to find out what the exact monthly payment was for the PPI alone, this is what you received redress for.

Poundsigns

I know it's an estimate because they stated it was! With credit cards I know it is more difficult to work out, was just hoping for advice really!

Yeah I'm going to have to get the figures and then do a spreadsheet or something to see if the figure is fair! Somebody on here had done a spreadsheet and helped another used in the same situation as me but cannot find the thread!

I understand the Plevin case etc and why I was being offered the compensation, was just hoping for another user who might be in the same situation saying what they were offered etc!

[Deleted User]

Poundsigns wrote: »

Yeah I'm going to have to get the figures and then do a spreadsheet or something to see if the figure is fair!

The figure offered is defined by the regulator and there is little point trying to ascertain if it's "fair"

I think you may have seen a poster with a "spreadsheet" on another website, it's unlikely to have been here.