Barclaycard PPI complaints

There are currently 8.4 million active Barclaycard credit cards making it the UK’s most widely held credit card. It is not known how many of these cards have some kind of payment protection insurance or card cover attached, but the figure is likely to be substantial. This kind of cover has been heavily criticised because of the high costs and low pay out rates associated with it as well as the fact it has been frequently mis-sold.

Credit card payment protection insurance usually costs around 79p per £100 outstanding on the customer’s balance and is applied on a monthly basis. This means if you owe £8,000 on your credit card you may expect to pay around £63.00 per month for the cover. The real issue with credit card payment protection insurance is not the cost, but the low payout rate associated with the cover. A 2008 survey by the Competition Commission found that just 11% of customers who tried to use their credit card PPI received a payout. This low payout rate can be attributed, at least in part, to the high number of exemptions associated with payment protection cover. These are things that are not covered by the insurance and commonly include medical conditions such as back pain and depression.

After having a claim rejected many people opt to make a Barclaycard PPI complaint feeling they were mis sold PPI as the terms, conditions or exemptions were not fully explained to them. Other customers have made a mis-selling complaint because they feel they were sold a policy that was unsuitable for their needs or because the full costs were not made clear.

To find out more about making a Barclaycard PPI complaint, call our claims team today on 0207 471 2000. We are an independent claims company who have already assisted thousands of customers to make successful claims for mis-selling.

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Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273

Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.

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