If you have taken out a Store card in the last 6 years and were sold PPI at the same time, you may entitled to compensation.
PPI claims – Store Cards
Most high-street retailers offer some form of store card – often with seemingly tempting offers to attract customers. In some cases, these cards came with an optional PPI policy, although the fact that this was optional was not often made clear to customers.
PPI may have been sold in such a way to make it seem more attractive, or that it would enhance your chances of passing the credit check for the card but in reality, it was often harmful or useless for the cardholder.
Often, storecard PPI was calculated as a percentage of the outstanding balance on the card – often at a rate of between 78p and £1 of the total balance. This could amount to £10 per year per £100 of the balance – it’s obvious how this can mount up: £1000 would mean a payment of £100 per year and so on.
Store card PPI was designed to cover your outgoings if you couldn’t work through illness or injury. However, in the majority of cases, it was mis-sold. If you think you were mis-sold PPI with any of your store cards, you can make a claim.
Claim back your Store card PPI today
If you have think you may be entitled to reclaim PPI, contact us today.