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PPI claim upheld - but no refund
startingout2016
Posts: 213 Forumite
I sent in my claim for PPI refund at the beginning of the year.
It was on an old Egg account from 2004 which has since transferred to Barclaycard.
The letter I have received today says:
'Your Egg Card Repayment Protection complaint has been upheld.
I have now finished investigating your complaint and agree that we mis-sold you Payment Protection Insurance on your credit cad on 23rd June 2004. I am sorry that this policy was mis-sold.
However, whilst I can confirm that a policy was added to your account, you did not make any payments towards your PPI Policy. I can confirm that there were no charges applied to your account and accordingly no refund applies. ''
The credit card for years had anywhere between £3500-8000 balance which has since been cleared.
I am confused that if I was mis sold PPI when the credit card was opened, how no payments towards it could have been made?
It was on an old Egg account from 2004 which has since transferred to Barclaycard.
The letter I have received today says:
'Your Egg Card Repayment Protection complaint has been upheld.
I have now finished investigating your complaint and agree that we mis-sold you Payment Protection Insurance on your credit cad on 23rd June 2004. I am sorry that this policy was mis-sold.
However, whilst I can confirm that a policy was added to your account, you did not make any payments towards your PPI Policy. I can confirm that there were no charges applied to your account and accordingly no refund applies. ''
The credit card for years had anywhere between £3500-8000 balance which has since been cleared.
I am confused that if I was mis sold PPI when the credit card was opened, how no payments towards it could have been made?
0
Comments
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Possibly it was cancelled before you started making payments.0
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am confused that if I was mis sold PPI when the credit card was opened, how no payments towards it could have been made?
They are saying that their records show that you didnt pay any PPI premium. This normally is the case where people pay the balance each month. PPI is only charged once you go into the interest charged period. Not during the interest-free period.
If you disagree with their response, given them copies of your statements showing the PPI premiums being paid.
it could also be that you cancelled it before any premiums were paid (such as the cancellation rights form).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
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