Barclaycard success - should I hold out for more? 22 October 2018 at 11:47AM edited 30 November -1 at 1:00AM in Reclaim Bank & Credit Card Charges 2 replies 915 views

trompurple

Hi all.

I used the template from this site and asked about credit cards I took out in 2003. Barclaycard admitted the mis-sold me 2 PPI premiums worth a total of £18.60 (Wish I'd kept the policy for longer now!).

They've offered me £118 which breaks down as shown below.

Do you think that is a reasonable offer? Of course I'm grateful for it, just wondered if you think I have grounds to expect more compensation.

Does anyone know how the statutory compensation levels work?

Any thoughts?

Thanks-

Dan

Refund £18.60
Refund of interest £2.55
Statutory compensation £71.06
Refund of fees incurred £40.00
Income tax deduction £14.21

dunstonh

Do you think that is a reasonable offer?

The redress calculation is defined. Its not a haggling contest. So, if its right, then it is reasonable. If it is wrong, then it is not.

Does anyone know how the statutory compensation levels work?

Broadly speaking, it is a return of premiums paid plus interest and any associated costs. As you paid £18.60 and are getting back £18.60 plus interest and associated costs, it seems to be correct.

trompurple

Many thanks dunstonh:)