Unsure if I can claim

Nasqueron

phillw wrote: »

Mis-selling is being persuaded that you want something.

Not really, in some circumstances advisors are allowed to "shock" (for want of a better word) clients about the penalties of not having a policy, so long as they are not dishonest and follow the rules

phillw wrote: »

You don't know that you were missold until you find out the reason why you were missold, so I agree you need to come up with a reason but it might not be something you know yet.

That sounds like something from Alice in Wonderland...

phillw wrote: »

Being self employed is actually a pretty good place to start, check the T&C to see if you could have claimed.

No it isn't, a common claims company myth. Most PPI covered the self employed, some had onerous conditions that made claiming all but impossible but it's not an auto win

phillw wrote: »

Large amount of savings or rich spouse so you could actually pay off the credit card in any case is another avenue.

If you had large amounts of savings, (typically paying far less than interest on a card or loan), why would you carry a balance on a credit card or take out a loan? The spouse argument is a non-starter, you can't assume they would pay your debts.

dunstonh

Plevin came about due a change in the consumer credit act 2006 (effective 2008). Nobody picked up that change, including the regulator. There has never been any requirement for insurance policies to declare their commission. However, a judge decided that s140a of the consumer credit act meant that the excessive commission that existed created an unfair relationship. The FCA, when looking at that judgement decided that it would consider 50% commission or above as excessive That alone would mean that credit card PPI would not be classed as excessive. However, card providers also shared the liability risk with insurers and in return they also shared the profit. So, in a decision that many consider unfair, there FCA decided to include profit share even though its not commission. That takes credit card PPI over the 50% tipping point.

So, you not being told the commission when the card was sold is not a missale reason. It was not required. It is basically a fluke of a court case and a ruling applied retrospectively .

In this case, raising a plevin enquiry seems to be the only thing needed here. No complaint about missale as it was not missold. No allegations of wrongdoing. Just a request to have the PPI on the credit card assessed under the plevin ruling.

Mortgage companies can require you to have buildings insurance though, what they can't do is require you to take it out through them.

Although there was a period when they were allowed. So, a sale in that period would not be classed incorrect but a sale after the rule change would be (if forced - although proving it would be near impossible).