Capital One PPI Cheque - Question

EH12

Good Morning.

I recently had a successful claim with Capital One for PPI on a credit card.

I received a cheque in the post today for the amount agreed.

However, when I look on my statement for the credit card, I have a purchase adjustment for the same amount, but my previous balance stays the same.

I plan on cashing the cheque into my current account. Am I okay to do this, or will the amount the come off the credit card balance once the cheque has cleared.

Hope this makes sense, appreciate any assistance.

[Deleted User]

Cash the cheque.

EH12

I shall, I am just wondering what will happen afterwards.

[Deleted User]

You'll have more money in your current account.

Other than that, nothing.

dunstonh

They normally credit the card account and then re-debit it. This clears any interest on the outstanding balance linked to the PPI.

-taff

Cash the cheque, nothing will happen. They won't apply another credit to the card, they do as Dunston says above.