PPI on MBNA credit card

loli_2

Can anyone tell me if they have been successfull in cancelling and re claiming the insurance which racks up on the over all balance of the lending, Is this the same as miss sold insurance with the banks ? loli

exel1966

You cannot reclaim PPI as it is not a penalty charge. It is a service charge for an option you have specifically chosen.

PPI can be cancelled at any time by simply requesting it.

napoleon

exel1966 wrote: »

You cannot reclaim PPI as it is not a penalty charge. It is a service charge for an option you have specifically chosen.

PPI can be cancelled at any time by simply requesting it.

Not quite true. They often add it to your account without telling you especially over the phone.

exel1966

I assume you are referring to my comments about being specifically chosen ?

I've had just about every UK card on the market through stoozing and have never come across them adding PPI without informing you. Even IF (which I don't believe happens, unless in error) they did you could still opt out when your credit agreement was sent to you.

Either way you cannot reclaim PPI and you can cancel it at any time. The only exception would be if a mistake had been made.