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Credit Card Charge Claim Back

There was a point several years ago when it was fairly easy to qualify for a credit card and card issuers were competing for business. Unfortunately, this is no longer the case and credit card companies use this to their advantage. It appears as though many credit card issuers are implying that certain consumers would not qualify for credit unless they carry payment protection insurance. This is one credit card charge that is added every month based on the outstanding balance. This insurance cover is intended to make monthly payments in the event that the cardholder is suddenly without income and unable to do so. However, in the real world very few people are eligible for this cover.

Why It Is Difficult to Claim Cover

This is one of the biggest problems which many consumer advocate groups have with payment protection insurance. The credit card charge for this insurance product is extremely high yet it provides very little cover for the people who need it most. There are so many exclusions to most policies that only about 13% of all policyholders would ever be able to draw benefits from the insurance cover. For instance, most credit card charge claim back complaints state that consumers were not apprised of certain pertinent facts concerning cover such as the fact that back injuries are not covered as a reason for losing income. As well, those policies don't cover such conditions as mental illness and will not pay if the policyholder is able to receive sick pay benefits from his or her place of employment. These facts should be disclosed at the time the insurance is taken out and failure to disclose is perhaps the leading reason for payment protection insurance claims on credit cards.

Credit Card Charge Claim Back Holding Steady

Whilst the misselling of mortgage payment protection insurance is easing up, credit card PPI appears to be as strong as ever. According to statistics released by the Financial Services Authority, credit card charge claim back figures are still running high. In fact, they are running higher than it had been anticipated. Consumers are continuing to seek payment protection refunds as frequently as they had in the past. This is comparable to PPI on personal loans and, in fact, many banks are saying that claims are coming in greater numbers than ever. Even so, there is no clear indication that this is in terms of new credit card charge claim figures or whether they are from older PPI credit card accounts.

If you are looking for help in filing a credit card charge claim back, Belmont Thornton, Belmont Thornton has a professional claims team on hand to answer any questions you may have. Simply call the claims helpline on 0207 471 2000. A member of the claims team would be happy to assist you and give you further information on the PPI claims services we have available or you can fill out the brief form on this site to receive a call back usually within 24 hours.

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