PPI MBNA Question

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
4 replies 759 views
Jeffos22Jeffos22 Forumite
3 Posts
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
Afternoon,
I recently used the TheClaimsGuys to check if I had PPI on a number of old loans and credit cards I had in the distant past. Over a number of weeks had four positive replies including a MBNA credit card taken out in 1999. After the initial positive responses I then contacted the companies myself, taking up the option that the ClaimsGuys advertise, that you can always do the claim yourself.
I was certain that if had PPI on these products it would not have been something I would have required and probably would have not been eligible to claim. Up to 2004 I worked for a large media company with excellent employee benefits regarding sickness and after 2004 I was a partner in a firm, and hence no longer an employee.
Today had letter from MBNA that upheld my case and will receive a cheque in 28 days for £436, which includes net interest and PPI Premiums of £200.90.
I see the payment as a bonus but thought that the amount of PPI Premium to be very low for a card which was taken out in 1999, and closed in 2005. During that time when I was young and not so money world wise, am sure that card was always on or close to limit until paid off in full and closed in 2005.
The letter states that offer is final but is there any way I can check the amount stated on the letter? I have not kept financial documentation for this card and am at the moment just relying on my somewhat hazy memory.

Replies

  • [Deleted User][Deleted User] Forumite
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    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    MoneySaving Newbie
    jeffos22 wrote: »
    I see the payment as a bonus but thought that the amount of PPI Premium to be very low for a card which was taken out in 1999, and closed in 2005. During that time when I was young and not so money world wise, am sure that card was always on or close to limit until paid off in full and closed in 2005.
    The letter states that offer is final but is there any way I can check the amount stated on the letter? I have not kept financial documentation for this card and am at the moment just relying on my somewhat hazy memory.
    Well, you could look at all your old statements and check. If you don't have these, it might prove very expensive to ask the Bank to provide them.

    Does your uphold letter suggest that they no longer have full details of your finance?
  • I don’t have statements for the card. The letter does state that “ notionally reconstructed the statement balances by removing the PPI premiums and associated interest” which suggests has the statements??
  • [Deleted User][Deleted User] Forumite
    0 Posts
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    MoneySaving Newbie
    Jeffos22 wrote: »
    notionally reconstructed
    It means they don't have full records of your finance and they've used the statements they do have to calculate the redress.

    So there is nothing you can do if you don't have full records either.
  • Ok thanks for the prompt reply. As said was a bonus and happy with something rather than nothing
This discussion has been closed.
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