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Currently paying for PPI - can I claim?
angels_girluk84
Posts: 2 Newbie
Hi there,
New to the MSE forums. Wonder if anyone could help me, please?
I took out a credit card with Lloyds (then Lloyds TSB) in early 2008 and at the time agreed to adding PPI to my account. Every month since I took out the card, I've had a PPI premium charge added to my statement based on the new balance. I've always paid my balance off in full every month, along with the PPI charge.
I still use the credit card to this day and I've never cancelled the PPI on it. Would I be able to claim against Plevin on my PPI? As I was asked about it when I opened the credit card account, so not sure I qualify for mis-selling. Also, I can't seem to find out whether you can claim for PPI on accounts that are currently in use? Is the claim process only open to people with old loans or credit cards?
Many thanks.
New to the MSE forums. Wonder if anyone could help me, please?
I took out a credit card with Lloyds (then Lloyds TSB) in early 2008 and at the time agreed to adding PPI to my account. Every month since I took out the card, I've had a PPI premium charge added to my statement based on the new balance. I've always paid my balance off in full every month, along with the PPI charge.
I still use the credit card to this day and I've never cancelled the PPI on it. Would I be able to claim against Plevin on my PPI? As I was asked about it when I opened the credit card account, so not sure I qualify for mis-selling. Also, I can't seem to find out whether you can claim for PPI on accounts that are currently in use? Is the claim process only open to people with old loans or credit cards?
Many thanks.
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Comments
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If you have truly paid off the balance of your card every month you won't have paid any PPI.angels_girluk84 wrote: »I took out a credit card with Lloyds (then Lloyds TSB) in early 2008 and at the time agreed to adding PPI to my account. Every month since I took out the card, I've had a PPI premium charge added to my statement based on the new balance. I've always paid my balance off in full every month, along with the PPI charge.
PPI on credit cards was only paid when the account had a balance.
PPI has not been offered by any credit card lenders for years, are you sure that is what you have been paying? I'm not even sure PPI was still offered by Lloyds in 2008?
Since Plevin only applies to rejected PPI complaints, you'll need to complain about the PPI first of all (if that is what you actually still have)0 -
When I took out my credit card in 2008, I took out Payment Protection Cover with it. (I looked through my paperwork and have a letter confirming the start of the insurance.) Since about 2014, I've received an annual review of this policy from Lloyds to show me how much I have spent on the insurance in the past year. It says that the policy helps to cover my monthly payments if I am unable to work.
According to a page on the Lloyds website, Payment Protection Cover is listed as Credit Cards PPI. (Can't post the link in this message apparently, as I am a new user.)
I've just been and retrieved my latest credit card statement. In the itemised list, the final charge after all my actual spending is for Payment Protection Cover. That amount is included as part of the new balance due and was paid when I settled the bill earlier this week. A varying charge for Payment Protection Cover has appeared on every credit card bill I've had since opening the account.
So what I've been paying for is PPI, isn't it?0 -
If that is the case, then you haven't cleared you bill every month as you originally stated.angels_girluk84 wrote: ». A varying charge for Payment Protection Cover has appeared on every credit card bill I've had since opening the account.0 -
PPI was charged based on the amount of balance on the card (typically around 70-80p per £100 balance), it's thus logical that with no balance you wouldn't pay for PPI.
If you were paying a charge on there it's possibly a different sort of policy (more of a general income protection policy). Why not ring them up and ask?
To complain about Plevin, you need to first complain about the PPI sale, as you said you wanted the policy it would be an obvious rejection so they could then look at Plevin but they'd also cancel your policy as a complaint implies you don't want it.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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