quick plevin question

Hi, I am about to get a Plevin payout on a credit card. At certain points especially towards the end of having the card I was running up late fees and overlimit fees.
Does Plevin work the same as other claims, that the bank has to put me back in the position I would have been in if I had not paid too much for the policy? If so I think this payout might be a little higher as I would have not been overlimit if the account was credited with that money. They might have to credit me back those fees. And then pay me interest on them.
Many thanks if you can advise.

Replies

  • dunstonhdunstonh Forumite
    112.6K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Forumite
    Does Plevin work the same as other claims, that the bank has to put me back in the position I would have been in if I had not paid too much for the policy?

    No.  Your complaint failed.  Plevin is a fall back option effectively where the commission in excess of 50% is refunded to you.  i.e. if its 58% commission, you get that 8% returned.    

    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.
Sign In or Register to comment.
Latest MSE News and Guides

Did you know there's an MSE app?

It's free & available on iOS & Android

MSE App

Regifting: good idea or not?

Add your two cents to the discussion

MSE Forum

Energy Price Guarantee calculator

How much you'll likely pay from April

MSE Tools