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Claim Credit Card PPI

If you've recently noticed a strange surcharge or fee on your monthly credit card statement that is related to some type of loan insurance, you may have been mis-sold a PPI policy. Payment protection insurance (PPI) is mis-sold when a lender or credit card company fails to notify the cardholder of the policy's terms, conditions, or monthly costs. Credit card companies often bundle these policies with subprime cards and add the total amount of the policy to the account balance, causing it to accrue interest along with standard purchases. Other credit card companies charge the cardholder for a PPI policy in small monthly increments, falsely describing the insurance as mandatory or beneficial. With PPI mis-selling being so rampant in the United Kingdom it is not surprising that tens of thousands of PPI claims are filed against credit card companies and lenders each year.

What Is a PPI Refund?

Perhaps even more upsetting than the fact that a large percentage of cardholders are not made aware of their PPI policy, the majority of policyholders never receive assistance with repayments when filing a claim against their insurance policy. In fact, nearly 90% of individuals that file claims against their PPI policy are denied assistance under the premise that they are ineligible. Rather than taking blame for such a low rate of successful claims, payment protection insurance companies insist that is the fault of lenders and credit card companies for not ensuring that their customers are fully eligible for the policy. As such, it is the credit card company that is responsible for refunding PPI payments to the cardholder, not the payment protection insurance company. Filing a PPI reclaim against your credit card company today can help you claim credit card PPI payments without damaging your credit score or putting forth a significant effort.

How Much Does It Cost to Claim Credit Card PPI?

A professional PPI claim company will offer a free consultation in which they'll thoroughly analyze your case by asking relatively simple questions pertaining to the loan amount, loan type, and lender. After this free consultation you can then decide whether or not to pursue the case based on the advice of the PPI claims specialist, at which point the claim process would begin. Luckily, you won't have to pay a penny unless you're able to claim credit card PPI successfully. Ultimately, one would stand to lose more if they failed to file a PPI claim against their credit card company, as being unable to make repayments is perhaps the fastest way to incur debt that is difficult to recover from.

How Long Does It Take to Claim Credit Card PPI?

The entire PPI claims process usually lasts no longer than eight weeks, which is around the same amount of time it takes to receive benefits when filing a claim against the PPI policy. However, while the majority of policyholders receive a full PPI refund with the assistance of a PPI claim company, those that choose to file a claim against the policy itself have less than a 15% chance of receiving benefits. Thus, if you're unable to make repayments on your credit card and you recently noticed that you've been charged for a PPI policy, you may want to claim credit card PPI payments back, rather than attempting to file a claim against the insurance policy. The initial consultation process usually takes less than 24 hours, after which your claim will be handled by a PPI attorney that will contact the credit card company and the appropriate authorities on your behalf. Overall, you have much better odds at success when attempting to claim credit card PPI payments back from the card issuer, than you do in attempting to receive benefits from the mis-sold PPI policy.

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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.

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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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