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Credit Cards PPI

If you've recently discovered an inexplicable fee related to a policy on your credit card statement, these may be charges caused by your credit cards PPI policy. Shockingly, a lot of cardholders fail to realise that they've paid a significant amount towards PPI until their claim is denied by the insurance provider due to ineligibility. Fortunately, beginning the process of reclaiming PPI is as straightforward as completing a claim form and engaging in a useful PPI claim consultation with Belmont Thornton. Consider the information contained herein to learn more about PPI reclaims and mis-selling in the UK.

Can I Really Reclaim Bank Charges?

Considering the high rate of honoured PPI claims during the last six years, caused primarily by the heightened attention of several financial authorities, every client has a great chance of reclaiming bank charges during 2011. Not only is it possible to claim back your credit cards PPI, the pressure is actually on the creditor that mis-sold you the policy, as FSA studies indicate that the vast majority of PPI policies were mis-sold. Belmont Thornton carries the skills and experience needed to contact the necessary authorities and begin reclaiming your credit cards PPI from your financial institution.

Realistic Reclaim Figures

A typical PPI policy can cost anywhere from 13 to 56% of the total loan amount, however cardholders usually pay monthly charges that are equal to about 2 to 3% of the current account balance. Any time PPI coverage is mis-sold the financial institution is rewarded by way of a commission fee, and while a loan PPI policy is typically paid for with a non-recurring premium, cardholders are subject to repetitive charges. Cardholders that have been forced to pay for several of their credit cards PPI policies simultaneously on multiple credit cards will usually reclaim a greater amount than those that have a single policy.

Pursuing Policy Benefits vs. Claiming Back Your Credit Cards PPI

Before filing a claim against your PPI policy you may want to consider claiming back PPI insurance instead, as very few PPI policyholders that file claims are deemed eligible for benefits. Data published by a major financial authority revealed that the minority of the credit cards PPI policies reviewed were sold legitimately, with the vast majority of the being mis-sold for profit. It is fairly easy to collect a complete PPI repayment after only 1-2 months, which is about the same period of time it takes for only 15% of PPI policyholders to obtain minimal assistance with repayments.

If you feel that you have been mis sold PPI on one or more of your credit cards, contact the claims team at Belmont Thornton, Belmont Thornton. You can reach them by phoning 0207 471 2000 or by filling out the online contact form. A claims team member will be in contact with you, usually within 24 hours and you will be on your way to filing for mis sold PPI. We work on a no win no fee* basis, so nothing will come out of pocket, which is a great relief after having spent so much on mis sold PPI.


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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 16, Elysium Gate, 126 New Kings Road, London, SW6 4LZ 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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