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Credit Card Charge Reclaim

According to the Citizens Advice Bureau, credit card charges are not really as cheap as card issuers would have you believe. This is all too evident when it comes time to calculate a credit card charge reclaim and most cardholders are astounded to see that they have been paying as much as 9% annually for almost nonexistent cover. Before filing a PPI claim on mis sold credit card payment protection, our claims management team will go over your statements to see just what you have paid throughout the term of your policy. The following information may prove to be helpful in understanding just what filing a credit card charge reclaim entails.

Credit Card Payment Protection - The Basics

Unlike payment protection insurance that is sold as a part of a loan package, PPI premiums for credit cards are assessed on the account balance from month to month. Whilst some credit card issuers may not charge a fee when your account balance is naught, others may charge a minimum fee. The problem with credit card payment insurance costs is that they can be extremely misleading and one of the reasons that credit card charge reclaim calculations are often so confusing.

Claiming Back Credit Card Charges

As mentioned above, premiums do vary from card issuer to card issuer which means that amounts will need to be carefully calculated to ensure that you tally up the proper credit card charge reclaim amount. According to CAB, the Citizens Advice Bureau, what is expressed as .75% monthly can actually be a 9% annual cost which is a significant amount to add to already high credit card finance charges. However, this wouldn't seem like quite so much if the PPI really offered any amount of cover, which it has proven not to do. Unfortunately that leads to the next thing you should think about when considering to file a credit card charge reclaim on PPI.

Mis Sold Credit Card Loan Insurance

According to CAB, lenders are not giving consumers enough information regarding payment protection insurance to make a sound decision on whether or not purchasing this cover would be in their best interest. Misleading sales tactics were reported all too commonly and CAB has stated that payment insurance was presented as a means of qualifying for credit. Also, credit card company representatives were not getting enough information from consumers to see if this particular cover would meet their needs. Not only were they engaged in misrepresenting cover but CAB found them to be 'guilty' of not properly assessing the needs of prospective cardholders. Mis sold payment insurance has led to numerous credit card charge reclaim proceedings.

Those who feel as though they have been mis sold PPI on credit cards can benefit from discussing their concerns with a member of Belmont Thornton team. It only takes a simple phone call to speak directly with a knowledgeable professional who can answer your questions and get you started on the fast track to filing to reclaim credit card charges on mis sold PPI. Belmont Thornton provides no win no fee* claims management that is unsurpassed in quality and customer service. Call 0207 471 2000 to speak with a member of the claims team today.


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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 www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, 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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