How is PPI charged on store accounts ? 24 February 2018 at 10:26AM in Reclaim bank & credit card charges 1 reply 754 views

fiscal_victim

Have just received 'results' of PPI 'investigation' by Santander Cards UK (formerly GE Money Cards) .Complaint has not been upheld -refusing to pay out. Even though I put a lot of money through the store cards the stated amount of PPI paid by myself looks very small to me. Does anyone know how PPI was/is charged on store card accounts ? Is it charged at date of purchase or is it only charged if the bill is not cleared by the due date thus avoiding any interest charges ?
This matter does not end here.

societys_child

is it only charged if the bill is not cleared by the due date

Yes, I believe (as with other credit cards) it is only charged on an outstanding balance and is normally between 70p to 80p per £100 outstanding balance per month. I'm sure someone will correct me if I'm wrong.

How much you paid in charges is not relevant, your reason(s) for complaint are what matter.