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Credit card commission?

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Hi all, I keep seeing adverts on social media for companies that can help reclaim £££ from credit card providers such as Barclays, Natwest etc for hidden commission charged on cards. As I've got a natwest card that I've had for a few years, I'm curious but is it something worth doing or just a 'social media scam'?


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  • DullGreyGuy
    DullGreyGuy Posts: 11,649 Forumite
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    Hi all, I keep seeing adverts on social media for companies that can help reclaim £££ from credit card providers such as Barclays, Natwest etc for hidden commission charged on cards. As I've got a natwest card that I've had for a few years, I'm curious but is it something worth doing or just a 'social media scam'?


    The ones I've seen are saying you've missed the boat to reclaim your PPI as the FOS closed the door to new complaints but they believe instead of reclaiming the premiums you paid you can reclaim the commission the bank received from the insurer and that this is a back door to avoid the FOS block on new PPI claims.

    Given how these companies work they will obviously accept data from anyone willing to share it but clearly if you've already reclaimed the PPI you cannot also reclaim commission and its a real punt that the FOS will either a) agree its reclaimable and b) that the existing block on PPI claims doesnt cover these.
  • born_again
    born_again Posts: 15,175 Forumite
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    Hi all, I keep seeing adverts on social media for companies that can help reclaim £££ from credit card providers such as Barclays, Natwest etc for hidden commission charged on cards. As I've got a natwest card that I've had for a few years, I'm curious but is it something worth doing or just a 'social media scam'?


    The ones I've seen are saying you've missed the boat to reclaim your PPI as the FOS closed the door to new complaints but they believe instead of reclaiming the premiums you paid you can reclaim the commission the bank received from the insurer and that this is a back door to avoid the FOS block on new PPI claims.

    Given how these companies work they will obviously accept data from anyone willing to share it but clearly if you've already reclaimed the PPI you cannot also reclaim commission and its a real punt that the FOS will either a) agree its reclaimable and b) that the existing block on PPI claims doesnt cover these.

    Many CC's looked at this at the same time.
    As I got it back on one of my claims.
    Life in the slow lane
  • DullGreyGuy
    DullGreyGuy Posts: 11,649 Forumite
    First Post First Anniversary Name Dropper
    Options
    Hi all, I keep seeing adverts on social media for companies that can help reclaim £££ from credit card providers such as Barclays, Natwest etc for hidden commission charged on cards. As I've got a natwest card that I've had for a few years, I'm curious but is it something worth doing or just a 'social media scam'?


    The ones I've seen are saying you've missed the boat to reclaim your PPI as the FOS closed the door to new complaints but they believe instead of reclaiming the premiums you paid you can reclaim the commission the bank received from the insurer and that this is a back door to avoid the FOS block on new PPI claims.

    Given how these companies work they will obviously accept data from anyone willing to share it but clearly if you've already reclaimed the PPI you cannot also reclaim commission and its a real punt that the FOS will either a) agree its reclaimable and b) that the existing block on PPI claims doesnt cover these.

    Many CC's looked at this at the same time.
    As I got it back on one of my claims.
    So you got back more than you paid? (ignoring interest)
  • born_again
    born_again Posts: 15,175 Forumite
    First Anniversary First Post Name Dropper
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    Can't remember how much I got back. Too long ago.
    Life in the slow lane
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