Cpp barclaycard protection missold

[Ktlou10]

Hi I have had a bcard since 1999 and was told by bcard when opening the acc that my application would be accepted if I took the cardholder protection plan (cpp) this is not to be confused with ppi which is a completely seperate product. The cpp covers your cards against fraudulent use and various other things for an annual fee which has increased year on year (it's now £39.99 a year I believe). I actually already had a similar product attached to my Barclays bank acc at the time so even though it was a duplication I felt I had to take it as I really needed the bcard at the time. Therefore the cpp has been on my acc ever since . I was told by bcard it would have to stay on the card or the acc would be at risk of closure - which is not the case as I have recently found out. So therefore I believe I have been missold this product and iv complained to bcard asking for a full refund of premiums dating back to 1999 - they say they are still investigating the details so I am awaiting a response, but I would be very interested to know if anyone else has had a similar experience with bcard cpp or on Any other credit card and did you successfully get premiums back? Iv done some research online and it appears the cpp product has been under investigation since last summer due to mussellung claims and that the credit card companies have had to put money aside to repay customers who were missold so it sounds promising !:-) any experiences that can be shared would be greatly appreciated.

[Hurricane Puffrose]

Re: Cpp barclaycard protection missold

Welcome to Legal Beagles!

Its good to have you on board Good to hear you have made a positive start with your CPP claim, I've bumped the thread for you as the experts arent on atm, but as soon as they are, im sure they will be right with you

[Hurricane Puffrose]

Re: Cpp barclaycard protection missold

:bump: so the experts can see.

[Bill-K]

Re: Cpp barclaycard protection missold

Hi and welcome, Ktlou. I have been assisting with PPI reclaims for a while now, but have never actually looked into reclaiming mis-sold Card Protection Premiums (CPP). When I have included CPP with PPI claims, it has either been ignored or the mis-selling claim has been refuted. Generally, it has been such a small amount that it was not worth the argument. Back in 1999, I think the annual premium would have been around £10 or so, but I guess if this is now around £40, then it starts to become worth the effort, perhaps. I doubt if the lenders will voluntarily refund these premiums, even though I believe they have been told to make an effort, so I guess it will be up to the customer to claim - as per usual.

Very roughly, I would guess that, if you took out the CPP in 1999 at £10 p.a., and it is now £40 p.a., then you have an approximate reclaim value of around £350. Certainly worth the effort of reclaiming. We can treat this in much the same way as a PPI reclaim, and what we have to do first is to prove that the product was mis-sold. If the lender admits to mis-selling, then that's fine - but if they don't admit mis-selling, we need to produce enough evidence to show that it was. If you have written evidence that you were told that it was compulsory, then you're over the first hurdle. If not, then you need to try and get the evidence, and/or look into any other reasons why it was mis-sold.

This may involve sending a Data Subject Access Request (DSAR) to the lender, which MAY provide the evidence we need. But this costs £10, and can take several weeks - so if it's not necessary, then don't send it. If the account is still active, then sending a CCA s.77-79 request might yield something. It only costs £1, and shouldn't take as long as a DSAR.

You may find these posts in the PPI section a good place to start:

http://www.legalbeagles.info/forums/...hrough-the-FOS


http://www.legalbeagles.info/forums/...ASE-READ-FIRST


Here are a couple of template letters.

DSAR: http://www.legalbeagles.info/forums/showthread.php?t=70


CCA s.77-79 Request: http://www.legalbeagles.info/forums/...read.php?t=751

I hope I've helped.

[RED FRANKIE]

Re: Cpp barclaycard protection missold

Dear Bill

I have CPP premiums on 3 seperate credit cards from the last few years and the total amount of premiums is worth about £500 - safe to say I would like this back!

After the FSA announcement a couple of weeks back I called CPP the very next day - they gave me all my dates etc and which card the premiums had been taken on so I now have all the details - BUT they said they are not responsible for looking at refunds as the selling was via the credit card companies ( the number for CPP was on a sticker on the credit card and you got diverted through to them when ringing to activate your card).


I wondered if you had any knowledge of this at this stage - ie if the CPP was taken on through this 'sticker on the card' method, is it right that CPP themselves are not responsible ?


I really hope not as two of mine are with MBNA and the other with Barclaycard and I have been rejected back with PPI claims from both those companies ! I would be grateful for any advice.


Ps I wrote to the ombudsman following your advice the other week re my PPI knockback - is there a way I can send you my letter in private to see what you think? I havent had a response but it was only just over a week ago so early days.

Thanks for all your help

[Bill-K]

Re: Cpp barclaycard protection missold

Hi Frankie,

You might find this link of interest:

http://www.bbc.co.uk/news/business-20357446

My understanding is that the FSA has effectively declared that ALL CPP's were mis-sold because they were totally unnecessary. So, hopefully there will be no arguing over the mis-selling, and it will just be a matter of reclaiming the CPP charges. Although CPP were the actual insurers, it was the card providers who charged for the CPP by debiting the accounts with CPP charges. They then charged account interest on these charges, which increased through time. CPP received a percentage of these charges, and this was technically the actual premium. I think that, although CPP were technically the original sellers of the product, the lenders have to take responsibility because customers were led to believe that it was the lenders who were selling the CPP.

This is the same way that PPI was charged by the card providers, and I think CPP will have to be reclaimed the same way.

So I think you will have to reclaim this from whichever of those credit card providers you were paying the CPP charges to. If you have had PPI claims refused, this should not affect your CPP claim, as the question of mis-selling should not come into play with CPP claims as far as I understand - the FSA has seen to that, I believe.

Just re-reading your post - did you have more than one CPP policy ? If so, I think that may have been mis-selling, because as far as I know, you only need one policy to cover all your cards.

Regarding your PPI claim. You must start a thread for this in the PPI section, otherwise confusion abounds, and you will not get consistent help. Once you have done that, we can get Admin to move your posts in the 'hi-jacked' thread to your new thread.

Then - make a copy of your letter and edit out the personal details, ref. numbers, etc. Once this is done, make a post, and press the 'Go Advanced' button. This will open up an area where you will see the option to 'Manage Attachments.' Click on this and in the box that opens, click 'Choose File,' and then navigate to where that file is on your PC. Click on that file, then click 'Open.' Finally, back in the previous box click 'Upload,' and wait for that file to appear further down in the box to show it has uploaded. Then click 'Close Window.' Finally, click 'Submit' as per usual, and your post should appear in your thread with the attached letter.