Belmont Thornton Logo
Claim Back Loan Insurance

Claiming Back Payment Protection on Credit Cards

If you've recently noticed a strange charge pertaining to an insurance policy on your monthly credit card statement, you might be paying for a payment protection insurance (PPI) policy unknowingly. In fact, many cardholders don't even realise what mis sold PPI is all about until they've paid hundreds of pounds towards the policy and the insurance company denies their claim due to alleged ineligibility. After being denied repayment assistance, claiming back payment protection on credit cards is often the only way to reclaim some of the funds spent on the policy during times of need. A PPI claim facilitated by Belmont Thornton PPI Claim Company can help you receive adequate compensation for all of the money spent on a PPI policy.

Annual PPI Statistics

Every year approximately 7 million PPI policies are taken out, resulting in the generation of approximately £5.5 billion in premiums for insurance companies and lenders that are involved in the underwriting of these policies. About one third of individuals that file a PPI claim are actually claiming back payment protection on credit cards. There are currently an estimated 20 million PPI policies active within the United Kingdom alone, with approximately 40% of them being attached to credit cards or mortgage loans. Sadly, the majority of cardholders that file a claim against PPI will be denied assistance, regardless of whether they've already paid a significant amount towards the policy. By utilising the professional assistance of Belmont Thornton you can begin claiming back payment protection on credit cards, and avoid becoming yet another negative PPI statistic.

The Excessive Cost of PPI Policies

A typical PPI policy can cost anywhere from 13-56% of the total loan amount, however, credit card PPI usually costs between 79p-£1.50 per hundred pounds outstanding on the balance. On an outstanding balance of £1,000 this would be between £7.90 and £15 per month, that's between £94.80 and £180 per year. Thus, someone that has been making repayments for several years may want to consider claiming back payment protection on credit cards, rather than continuously making payments with a small chance of receiving repayment assistance in times of need. In addition, cardholders are forced to pay for multiple PPI policies if they have several credit cards, as a single policy will not provide cross coverage.

Questions to Ask about Credit Card PPI Policies

If you are already in the process of claiming back payment protection on credit cards, you'll want to ensure that you do not apply for any new cards that include questionable PPI policies. Be sure to inquire about the types of repayment scenarios that are eligible for PPI coverage, as well as whether the policy will cover an authorized user or the spouse of the cardholder. It is also important to determine the annual costs of the PPI policy, and whether or not the policy rates are fixed or adjustable. Since most PPI policies carry adjustable rates, it is important to ask how often these rates are subject to change. Fortunately, even if your credit card company provides inaccurate or misleading answers to the aforementioned question, claiming back payment protection on credit cards is as simple as contacting Belmont Thornton for a free consultation on a no-win no fee * PPI claims case.

Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Why Choose Us?

  • TickAbsolutely No Upfront Costs. No Win No Fee*
  • TickSpecialist Claims Team Always On Hand To Answer Your Questions
  • TickQuick, Easy And Simple Process
  • TickU.K. Based Call Center
  • TickGuaranteed To Start Your Claim In 24 Hours

Loan claim: Building societies warn of house price bubble

The Building Societies Association (BSA) is the latest to warn about the potential house price bubble that could arise f...

Bank claim: Lloyds raised concerns on Co-op finances

Lloyds Banking Group was aware that the financial position of the Co-Operative bank was unstable, said Lloyds chief exec...

Loan claim: first time buyers locked out for a decade

First time buyers will have to save up their deposit on a house for more than ten years, according to research from the ...

Bank charges: Commission tackles issue of RBS

The weak position of the Royal Bank of Scotland (RBS) is damaging to the UK economy, according to the Parliamentary Comm...

Bank charges: Report says customers and taxpayers were failed

Customers and taxpayers have been failed by the financial sector, according to the final report from the Parliamentary C...

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.

Please note that calls may be monitored for the purposes of staff training.

* 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.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide