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EXPIRED 29th Aug 2019

Credit Card PPI Claims


What Is Credit Card PPI?

Around 10 million people in the UK were sold Payment Protection Insurance (PPI), or it was added to a credit card between 1988 and 2011. The PPI was to ensure card payments were met if you couldn’t work due to sickness, an accident or being unemployed.

However, in many instances it was mis-sold as an added extra which people didn’t want or ever need. Customers were not told that if a claim on the insurance was necessary the maximum time it would pay out would be 12 months. Many would also face problems in trying to make a claim due to the number of exclusions on the PPI which would prevent customers in making a successful claim.

A survey by the consumer group Which? indicated that almost 1.5 million people were sold PPI with their credit card after sales staff mis-led them. As a result of this, huge numbers of people are entitled to reclaim mis-sold PPI on credit cards

If you think you were possibly mis-sold PPI on a credit card, get a PPI check done to find out for sure. It doesn't matter if the PPI policy is active or not.



The PPI deadline has now passed and we are no longer accepting any new PPI claims.

Please be assured, if you have already enquired about a PPI Claim with Money Management Team Limited we are processing your enquiry and will update you as your claim progresses. If you need an update in the meantime, please contact us.

You can pursue your own claim direct to the firm to obtain a refund. You can do this for yourself at no cost and then use the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) which are both FREE.

£Millions Remain Unclaimed!

Lenders Who Sold PPI with Credit Cards

Most high street banks and other credit card providers sold or added PPI to credit cards. The following is a list of popular credit cards PPI was sold with or attached to:

  • Bank of Scotland
  • Barclaycard
  • Capital One
  • Clydesdale Bank
  • EGG
  • HSBC
  • Halifax Bank
  • Lloyds Bank
  • Lloyds TSB
  • MBNA
  • NatWest
  • Royal Bank of Scotland (RBS)
  • Santander
  • Yorkshire Bank

The above is not a complete list of credit card lenders who sold PPI. If you dealt with a firm not listed above or in the lender pages, please contact us for further assistance.

What Are Credit Card PPI Charges & Costs?

Credit card PPI is paid by you when the lender charges a premium each month. The cost is made up of three sums, which combined makes up the total cost of credit card PPI.

The three parts consist of:

  1. PPI premiums on credit cards are worked out as a percentage of the amount outstanding on the credit card each month. Typical charges by lenders can be up to 79p for PPI on every £100 of debt on the credit card.
  2. Interest is charged in addition to the monthly credit card PPI premium, the rate of which is the same that is charged for the outstanding balance on the credit card if PPI had not been added.
  3. If payments have been missed, further charges may be incurred to the credit card account. If PPI has been added to the account, the charges will be higher than if PPI wasn’t added to the account, leaving the account holder with a bigger debt.

The above illustration shows that the amount of PPI stated by a lender on a credit card is the first part of working out the PPI cost. The reason is that when the PPI premium is added to the outstanding balance on the credit card, it increases the cost of PPI substantially. This is due to outstanding balances on credit cards incurring interest rates of over 15% on top of what lenders would charge for credit card interest.

A report published by the Citizens Advice Bureau (CAB) in 2005 titled 'Protection Racket' highlighted concerns the CAB had in relation to PPI and how it was sold.

The report identified PPI policies offered by some of the UK's largest credit card lenders only paid out for 12 months maximum if the policy were needed by the policyholder due to unemployment.

The monthly benefit received from the PPI policy would only cover a maximum of 10% of the outstanding balance.

This crucial information was not being passed on to customers when the PPI was being sold with their credit cards and in many cases, customers were not aware of what they were buying. Some later found that they had PPI but were completely unaware that it had been added.

How Credit Card PPI Was Mis-sold

PPI has been widely mis-sold across the financial services industry. PPI was added to and sold with credit cards without any checks to establish if PPI was suitable for the customer, if they were eligible under the provisions of the PPI, if the cover was required or even wanted.

Grounds for PPI Mis-selling

There are several ways in which credit card PPI may have been mis-sold to you:

  • You were unaware that you were being sold credit card PPI;
  • You felt under pressure to take out the credit card PPI in order to be approved for the credit;
  • The lender did not check if any of the exclusions applied that would make it impossible to claim on credit card PPI policy;
  • You were led to believe that the credit card PPI purchase was compulsory and not an optional extra at the point of sale;
  • Your employment already provided you with this type of cover or you had another PPI policy in place;
  • If your age at the time of taking out the credit card PPI was past retirement you would not qualify for the PPI;
  • At the time of taking out the credit card PPI you were self-employed, unemployed or retired;
  • Any pre-existing medical conditions you had were not considered at the time of taking out the credit card PPI;
  • No information was provided to you about your right to cancel the credit card PPI policy.

Don’t Recall Which Credit Card Provider You Used?

Trying to remember the different credit card providers used over time can be difficult, but it doesn’t mean you can’t still check for mis-sold PPI or put a claim in.

There are many cases where people cannot remember which providers they have used, mainly because of how long ago it was or the number of lenders they’ve used over time.

Looking for any paperwork relating to past loans will help to identify lenders and determine if you had PPI or not. If you don’t have any documentation, we may be able to help in trying to identify your past lenders.

How Much Will I Get If My Credit Card PPI Claim Is Upheld?

If your credit card PPI claim is successful, the amount you are compensated by will consider the following:

  • How much PPI you paid per month;
  • The amount of interest added on top of the PPI;
  • Any charges for missed payments or arrears that could have affected the cost of the PPI.

When the above facts have been assessed and the amount to be refunded has been calculated, an additional sum for statutory interest at 8% should be also added. This will make up the total amount payable for mis-sold PPI.

High Commission Claims & Plevin

The Financial Conduct Authority (FCA) in August 2017 introduced a new ruling for PPI mis-selling called ‘Plevin’. Under this ruling, anyone who had PPI from a bank or lender attached to an active finance product since 2008 may be owed some money. In the past, in order to reclaim any PPI, you had to have been mis-sold it. The FCA’s new rule says if over 50% of your PPI cost went as commission to the lender, and that wasn’t explained to you, you can claim back the extra above that.

Following the ruling, the FCA set out guidelines that defined high commission as being more than 50% of the cost of the PPI premium and further stated how banks should investigate and correct PPI commission.

The Plevin ruling will not apply to everyone for example if as a result of a previous claim, you’ve already received a PPI refund, you cannot now claim for unfair commission.

If you have already raised a previous complaint for mis-sold PPI which was not upheld, you may be able to claim about the commission charged on your PPI policy. You may be eligible if the any of the following apply:

  • the credit card with the PPI was sold to you on or after 6 April 2007; or
  • the credit card with the PPI was sold to you before 6 April 2007 and was still in effect on or after 6 April 2008.

How Long Do I Have To Make A Credit Card PPI Claim?

The FCA has set a deadline of 29 August 2019 by when all claims for mis-sold PPI need to be submitted.

This means that your mis-sold credit card PPI claim must be submitted before this date. New claims cannot be lodged after this date.

There may also be other time limits to considers, so act now and put in your credit card PPI complaint as soon as possible.

Frequently Asked Questions on Credit Card PPI Claims

Read our frequently asked PPI claims related questions and answers. In the majority of cases the first step to making a PPI claim is to get a PPI check done with the lender.

What is PPI?

PPI stands for Payment Protection Insurance. It is a financial product designed to cover repayments on loans, mortgages and credit cards which you may not be able to meet if you find yourself out of work due to illness, redundancy or other reason.

Having PPI cover would mean that if you fell ill, became unemployed, or found yourself in a situation which meant you were not earning money, your repayments would be covered.
PPI also went by many other names, such as: ASU insurance (Accident, Sickness and Unemployment), Life & ASU insurance (Life & Accident, Sickness and Unemployment cover), PLP (Personal Loan Protection), CCRP (Credit Card Repayment Protection) and MPPI (Mortgage Payment Protection Insurance).
These insurance policies were often sold alongside loans, mortgages and credit cards

How was PPI Missold ?

Many sales staff at banks and other financial companies were under heavy pressure to meet certain targets each day in the 1990s. Encouraged to sell PPI wherever possible – due to its strong profitability – many of them sold PPI incorrectly, going against the industry regulations in order to reach their targets.

PPI was mis-sold in many different ways, with some of the most common being:

  1. The bank telling you that it was compulsory.
    Customers were sometimes told by the banks and lenders that PPI cover was necessary in order to receive the loan they were applying for. Sellers would either not mention it was an optional extra, or imply that those in charge of deciding whether you would receive your loan would be more likely to accept your application if you took out PPI cover.

  2. You received it without asking for it, or without knowing you were having it. You might not have discussed PPI properly with the seller, yet they subtly added it to the loan documents without you asking to have it.

  3. It was sold to you for an expensive price
    If PPI was sold to you at a high price, then you may have barely gained any money if you ever ended up claiming on it, even if you were eligible for the maximum payout. Because the policy would not actually benefit you properly, it can count as being mis-sold.

  4. It was unsuitable for you to have it
    Some people had no need for PPI cover. They were either fully covered anyway by another policy, or their personal situation made it impossible for them to ever claim on it, such as having a pre-existing medical condition, for example. You may have reached retirement age during the policy’s timeframe, for example, making the PPI mis-sold.

How do I know if I’ve had PPI

Your statements or other relevant documents should have PPI listed on them, potentially under other names such as: ASU insurance (Accident, Sickness and Unemployment), Life & ASU insurance (Life & Accident, Sickness and Unemployment cover), PLP (Personal Loan Protection), CCRP (Credit Card Repayment Protection) and MPPI (Mortgage Payment Protection Insurance).

How do I check and spot PPI payments?

For PPI on loans or mortgages, you will probably be able to find signs of PPI payments on your original agreement. For PPI on credit cards, it should show up on your statements. Generally it would have been charged monthly.

Remember to check for the different names PPI was sometimes called on your documents, such as: ASU insurance (Accident, Sickness and Unemployment), Life & ASU insurance (Life & Accident, Sickness and Unemployment cover), PLP (Personal Loan Protection), CCRP (Credit Card Repayment Protection) and MPPI (Mortgage Payment Protection Insurance).

Why should I make a claim?

The Financial Conduct Authority (FCA) – formerly the Financial Services Authority – discovered that PPI had been mis-sold by many banks and lenders across the UK on a major scale.

There were 20 million PPI policies in the UK by mid-2008, with an estimated seven million added to credit agreements annually. Based on this, PPI may have been mis-sold to more than 70 per cent of the UK, with potentially more than 40 per cent of policyholders not even knowing it was attached to their loan, mortgage or credit card.

Considering this, it is reasonably possible that if you took out credit in some form during the last few decades then you may well have been mis-sold PPI on it, or been charged an unfairly high amount of commission on it, and therefore you may be entitled to compensation.

Additionally, many cases which have been rejected by lenders later go on to be overturned by the Financial Ombudsman Service (FOS).

Can I make a PPI claim myself?

While you have every right to deal with your claim yourself, some people may feel like they don’t have the spare time or patience to do this. PPI claims involve completing questionnaires, chasing up banks, and can take various different routes.

Using a claims management company means they can use their knowledge and experience to guide you through the claims process.

How far back can your PPI claim be dated?

PPI is known to have been mis-sold from as far back as 1988 up until 2014 in some cases.

How much could I get back?

If your PPI was mis-sold, the amount of compensation paid out is generally your PPI premiums plus gross interest at 8 percent. If you paid more interest on your loan, mortgage, credit card or other product as a result of having PPI, then you may receive more compensation.

What happens if I’ve missed repayments?

Should you have missed any payments on the loan, credit card or mortgage which you are claiming for, any compensation you receive would be used first to clear any arrears, before the any payment is made to you.

The Financial Ombudsman Service (FOS) offers a free and impartial advice service for consumers, and we recommend that you speak to them or to a specialist debt advisor about your financial situation.

Can I still make a claim even if my PPI policy has expired?

Yes. No matter when the policy expired, provided the PPI was mis-sold, you are entitled to make a claim.

What if I don’t have any paperwork?

Financial companies must keep records of all their customer’s transactions and dealings for the past 6 or more years, so they may still have your records for you. If you paid off your loan more than 6 years ago, there may not be any available records. However, there have been cases in which claims have been made against cases of mis-selling over 20 years ago, often without paperwork.

How long do PPI claims take to process?

Our average timeframe is between 8-16 weeks from the date of the lender’s acknowledgement to a decision being made.

Should your claim be rejected and you then appeal to the Ombudsman, you can expect to wait several months longer. However, many claims that are rejected initially go on to be overturned by the Ombudsman so it is generally worth the wait.

The more details you can recall about your agreement, the more likely it will be that your lender can locate and verify you against their systems. This can help avoid requests for further information which can delay a decision being made.

I am currently in a Debt Management Plan Can I still claim?


Being in a debt management plan (DMP) does not have any effect on your right to make a claim. However, your own situation may differ, depending on your agreement with the debt management company you should be aware of the following:

  1. You may be required to let your debt management company know that you plan to claim, as well as informing them about any subsequent compensation.
  2. If the loan, credit card, mortgage, overdraft or other account you are complaining about was included in the DMP, your lender may automatically deduct some or all of the compensation and pay it to your debt management company.
  3. If it was not included, then it is possible that you might still be required to make a payment to the debt management company.
  4. It is possible that you may not end up with any money left over after paying back your DMP, however you will still have benefited from making the claim because your outstanding debt will have been reduced.

I have an IVA or have been declared bankrupt, can I still claim?

If you are going through or have recently been through an IVA or bankruptcy, you must speak to your insolvency practitioner or debt adviser before making a claim.

What if the finance company no longer exists?

If your PPI policy was taken out after 14th January 2005 your claim can be taken to the Financial Services Compensation Scheme (FSCS). The FSCS is the UK’s compensation fund of last resort. They may pay compensation if a firm is unable, or likely to be unable, to pay claims against it. This usually takes place when the original lender either no longer exists or is bankrupt.

How will this affect my relationship with the lender?

A claim should not affect your relationship with the lender, because it is the lender’s duty as part of the FCAs “Treating Customers Fairly” (TCF) initiative to ensure that all customers are treated fairly.

The FCA are very serious about this being carried out, saying: “TCF remains a vital part of our supervisory approach and as such, it has been fully integrated into our core supervisory work. This will help to safeguard the legacy of the significant effort made by the FCA and by firms on their TCF programmes, in terms of improved outcomes for consumers. Where we find failings, we will use our full range of regulatory powers to take action.”

Other Organisations That Can Offer Help and Advice on Credit Card PPI

There are some regulatory bodies who can offer information and assistance regarding PPI: The Financial Conduct Authority, the Financial Ombudsman Service and the Financial Services Compensation Scheme.

Financial Conduct Authority (FCA)
12 Endeavour Square
E20 1JN

Tel: 0800 101 8800

The FCA are the finance industry regulator in the UK. They ensure customers are treated fairly by financial services organisations, that include banks, credit card companies, loan companies and building societies.

Individual mis-sold credit card PPI complaints are not dealt with by the FCA, but they can provide general PPI information. Contact the PPI provider directly, all regulated companies have procedures in place to deal with PPI complaints.

If your claim has been rejected by your provider the matter can be referred to the Financial Ombudsman Service (FOS). They can look into the matter and give you their decision.

Financial Ombudsman Service (FOS)
Exchange Tower
E14 9SR

Tel: 0800 023 4567

The FOS deals with complaints and disputes made by customers of UK banks, building societies, insurance companies and other financial services organisations including advisers.

For the FOS to look into your credit card PPI complaint you will need to have contacted the organisation concerned and allowed them to put the matter right. If you’re not happy with the organisation’s response or lack or response, only then can the FOS get involved. However, you will need to contact the FOS within 6 months after receiving the final response from the organisation concerned for them to be able to investigate the matter.

Financial Services Compensation Scheme (FSCS)
PO Box 300
GL17 1DY

Tel: 0800 678 1100

The FSCS is there to protect customers in the event of an authorised financial services organisation fails i.e. firms that are authorised by the FCA and the Prudential Regulation Authority.

If the organisation you are dealing with has gone out of business, cannot pay the claims made against it or has been declared in default, the FSCS can make an award of compensation. The award will only be a maximum of 90% of the loan PPI claim where there has been actual financial loss.