Not Bothered To Claim Back Your PPI On Old Credit Cards, Maybe You Should Be

Ron Amoore, Managing Director of Consumer Protection Services in Wilmslow, with over 40K client commissioned claims, explains why PPI charged on Credit Cards can often amount to serious sums of money in your pocket.

AS EVERYONE rushes to claim back the PPI on their loans, a very important consideration that is often overlooked is the mis-sold PPI on their credit cards. Often the PPI refunds we receive for our clients with PPI added to their credit cards is of a higher amount than it is for clients who have PPI on loans. Ron Amoore, director of Consumer Protection Services explains why…

Hidden charges

This is because the monthly credit card PPI fee actually deflects a client’s payment from reducing their card balance. So the customer does not pay off their card balance as quickly. This means the credit card company can continue to charge their standard annual percentage rate of between 25 to 30 percent on your balance for longer. When we seek a PPI refund for our clients we not only get the credit card companies to refund the client for the actual PPI payments they have made, we also get them to pay back associated interest, which is the amount the client would have reduced their card balance by had they not had to make the PPI payment.

Astounding example

To highlight just how much you could be owed, take a look at this recent BARCLAYCARD credit card refund we won for one of our clients in March. This client had the card for over 10 years and as she left higher balances on it, the monthly PPI charges refunded amounted to £7397.75 over the years, not bad…. but then the bank also has to pay back the amount of debt she would have paid down on her card balance if her monthly payment went directly to her balance and not to also pay the PPI premiums. This added an extra £10,551.97 to her refund…even better right ?
Now, on top of this, the lender had to also pay back compensatory interest at eight per cent which added an extra £3525.33 to her win. So, in total her original £7397.75 refund of normal PPI charges amounted to £20,769.99 with interest and eight per cent compensation…. A life changing amount !

What if I can’t find the loan or credit card details?

We can still retrieve your loan or credit card details through the Data Protection Act even if the account is now closed. We can go back about 10 years. It may take a little longer for the banks to get back to us with the details
(usually another 28 days), but we can get the details for you and may still be able to get you a full refund. Just let our claims adviser know that you are having difficulty locating the details and they will tell you what to do.

For more information contact CPS on 0845 602 6421 or go to and click on PPI Credit Cards Visit This Link.