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Card Payment Protection

Mis sold payment protection insurance has been all over the news in recent years as consumers scramble to get a refund on premiums and interest they have been charged for a financial product they didn't want, didn't need or at times didn't even know they had been paying on. However, many people don't realise that there are other types of loan protection insurance policies that have been mis sold as well, including card payment protection on major cards as well as merchant cards! The real difference is in the way premiums are assessed but there is little difference in the misleading PPI sales tactics between loans and revolving lines of credit.

How Much Does Card Payment Protection Cost?

Since there is not a single premium (onetime fee) on credit cards, many people question how much card payment protection costs. Similarly to loan insurance, card payment protection insurance is charged on a percentage basis. The typical cost of payment protection insurance can be anywhere from 13% to 56% (and often more!) of the amount being borrowed. In terms of credit card insurance, the amount will vary from month to month based on the outstanding balance but the percentage will remain the same. Credit card payment protection is calculated on the outstanding balance from the previous month. Some card issuers charge a minimum amount when the balance is naught whilst others perhaps will not charge for those months. It is strictly up to the issuer.

How to File a Mis Sold Card Payment Protection Claim

The way to file a mis sold card payment protection claim is handled in much the same way as it would be for a loan. It is important to be able to document how you were mis sold, the amount that was charged in total for premiums and interest and then to know where to file the claim! So many people get confused and try to file the claim with the insurance underwriter but the insurance company is not to blame for mis sold PPI. It is the lender, or card issuer as the case may be. However, one thing which many people find to be the most confusing is calculating how much they had actually spent on mis sold cover. This is where the services of a reputable claims management company come in handy.

Belmont Thornton, Belmont Thornton, has successfully filed thousands of claims for borrowers and cardholders in the UK. We are registered with the Ministry of Justice, the Information Commissioner's Office, hold a Credit Consumer Licence issued by the Office of Fair Trading and our VAT number is published online. If you are ready to claim back those mis sold payment protection charges then it is a simple matter of making a quick phone call to our claims team on 0207 471 2000. Your claim pack will be in the post within 24 hours so that you can get on the fast track to claiming back what is rightfully yours.

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Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

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* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

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