PPI on Credit Cards

PPI on Credit CardsEveryone these days has either previously owned or currently carries a credit card which is used on a everyday basis.

The most popular credit cards in the UK are Barclaycard, Capital One, MBNA, NatWest, American Express, PayPal, Lloyds TSB, Santander, Cahoot, Co-Operative Bank, First Direct, Goldfish card, HSBC Bank, MasterCard UK, Morgan Stanley, National Trust, Northern Rock, Tesco, Virgin Money, Sainsbury’s Bank, Yorkshire Bank and the Royal Bank Of Scotland credit card.

There are hundreds of thousands of UK consumers that have used their credit card and been mis-sold PPI and would like to know how to claim back PPI on credit cards. There are step-by-step guides on reclaiming mis-sold PPI that these can often lead to confusion so what exactly is the best way to claim back PPI credit cards?

How to Claim PPI on Credit Cards?

First thing you should do is check your credit card statement, although this is not 100% necessary as you can get in touch with your credit card provider and ask them to send you a copy (they may charge you for this service but if it means claiming back your mis-sold PPI than it is well worth it), you then should see on your credit card statement a further payment which relates to payment protection insurance.

Once you have found your PPI policy and you are sure sold it then you can start the reclaiming process.  If you are not sure whether you can claim back mis-sold PPI then there is a step-by-step process that you can reference which includes the credit card company telling you that you had to buy a policy from them and nobody else.

Other reasons of mis-selling include over pushy salesman basically insisting that you take out the policy where in fact you have the legal option of refusing to do so as this is not a legal requirement. The credit card company may also have insisted that you sign the PPI in order for the credit application to go through this is in clear breach of UK law.

You may also have been self employed or retired, this basically makes the policy useless anyway as you cannot pay yourself a regular income and they claim back off the PPI. Maybe you also have a medical history in which case you would probably not be covered anyway even if you were aware of this if the credit card company did not mention this before you sign the agreement than they were in clear breach of UK financial rules concerning the selling of payment protection insurance.

It basically boils down to common sense, firstly check online to see if the company that issued you the credit card has been fined already then there is a good chance that you could win your PPI on credit card compensation claim. We have included on this website the most popular credit card companies in the UK will have been in trouble by mis-selling PPI you can search on our website or carry out a search in your favourite search engine yourself to see whether other people have been successful in claiming against the same credit card company that you used.

The good news is that these credit card companies have limited time in dealing with your claim and if you’re not happy with the service that they are providing then you can always contact the FSO who will take up your case.