Capital one Credit Card PPI claim

[joox]

My partner finally decided to claim her Capital One credit card PPI.

The card was issued in 2003 which was more or less when PPI was introduced I believe with a avg credit amount of £500.

About 2 weeks ago she made a claim using the Capital one/resolver online application.

 

The original card application was completed on the phone and her complaint was it was not fully explained to her what PPI was and why she should be accepting.

 

Within a week she received a reply stating she was not eligible for a PPI reclaim due to the following reason:

 

aged 16-64

Employed and paying class 1 NAT INS

Living in UK

 

Based on the above we are confident the PPI was not mis-sold !!!

 

They confirm it was sold on a telephone application which they do not have the recording !

 

How is this confirming that it was not mis-sold ?

 

They have however agreed to just over £1200 as a result of redress scheme which was introduced in 2014 re a high commission rate which is unfair to the consumer under the CCA 1974.

 

Not sure how to work out the PPI as not much statements are available.

 

Given the above info, what would be the best course of action?

 

Thanks in advance

[dx100uk]

Do an sar

Resolver is useless for reclaiming ppi

Is this a plevin refund or ppi premiums

[joox]

Plevin.

When you apply for the PPI refund on Capital One site, I think its somehow monitored or connected to Resolver.

[dx100uk]

well you cant have both.

either you accept a plevin refund of the hidden commission they got

or

you put in a claim for the PPI premiums back.

without all the statements via an sar, you nor us are in any position to know whats best.

but the fact that they have refunded under plevin sort of admits it was mis-sold...….

Edited February 28, 2019 by dx100uk
spelling

[joox]

Not looking for both!

 

just asking to see if its worth not taking plevin and going for the full PPI repayment instead.

And what happens if she accepts the plevin and then still pushes on for the PPI.

 

Based on their reply, what exactly proves it was not mis-sold?

just confirming the fact she was working and aged over 16?

what about all the sales pitch she must have received.

[dx100uk]

one or the other

she cant accept plevin then go for PPI.

 

you've nor we have anyway of knowing without getting all the info via an sar

you never know what notes are in the comms log that might either float or bomb their claims in was unadvised.

 

not 100% sure on 2003 but on many cards cap1 cards there was a little white sticker that gave a number to ring that said call me to activate.

the truth is the card was already activated and it was to activate the PPI.

 

so she solely applied for the card over the phone, or was it, as I suspect, after returning a mailshot or a magazine application form?

 

you see, there so much information to gather before an informed decision about which way to go is made...

 

dx

[joox]

Right so if she does request SAR, how long does it take to have the info and how far down the process will the plevin payment offer expire? also what information on the SAR can effect the process?

[dx100uk]

read sar

[joox]

Will be sending off the SAR request this week. Have read the SAR thread but just to double check, does request SAR effect the current plevin payment offer at any point?

[dx100uk]

its your legal right

[joox]

thanks. so how far down this process will they cancel the plevin payment?

[dx100uk]

not sure where we've stated they will

its for you to refuse it if you feel the refund of the actual PPI payments is going to gander more money and succeed

[joox]

We have just received the SAR from capital one today.

What info do I need t look for?

[dx100uk]

the statements 

[joox]

What should we be looking out for? there are about 500 pages !!!!

[dx100uk]

ppi every month

[joox]

Ok we know there was a ppi agreement in place and Capital One refused the claim.

Also, they mentioned they lost the phone conversation for the application. 

What steps do we need to take now?

 

record all ppi payments

 

 

[dx100uk]

it will show on every statement whilst it was active

[joox]

Would appreciate a quick guide on what steps to take in getting back to Capital One

 

1. record all PPI payments from the statements.

 

Then what?

 

Esalte the company to  Financial Ombudsman Services?

 

 

[dx100uk]

so you now know the months it was charged and how much each month?

 

is the card still active?

[joox]

yes it is

once i have all the ppi payments, what do i do?

[dx100uk]

pop each one on its date in the CISHEET

enter their avg int rate in cell d15

[joox]

Have been going through the statements and finding the avg charge per month to around £7.

does this work out the payout would be around £1500 max if they accept to repay?

Based on under 13 year and 8% interest per year. 

[dx100uk]

You dont avg the monthly ppi

You put each one in the cisheet

You might want to a vg the apr for cell d15 though

[joox]

so how do they work out the final payment if the avg payment is around £7 ?

Edited April 1, 2019 by joox