Can I Claim Back Credit Card Charges
In the past 10 years anytime someone applied for a financial service they
probably were offered payment protection. The payment protection was supposed to
insure financial services ranging from credit cards, store cards, bank loans,
and more. As a result of people trying to build their credit they purchased
credit cards and some willingly and some unwillingly had payment protection
insurance. Majority of the time however, when these policyholders tried to use
their policies they were denied coverage based on not meeting the requirements
for eligibility. In these instances most of the policyholders find themselves
asking can i claim back credit card charges.
The good news is if your lender failed to fully explain the terms of your policy
it may be considered to be mis-sold and you may be entitled to make a payment protection claim.
Other ways in which a policy may be mis-sold include: policies added without the
customer's consent, customer's being sold a policy they are ineligible to use
and customers being pressured into taking out the cover. If you are are asking
yourself the question "Can I claim back credit card charges?" and are unsure of
the answer, you may find it useful to contact a claims companies. These companies would normally need a bit of information from you including but not limited to:
- Name on documentation relating to payment protection insurance
- Type of financial service such as credit cards, bank loans, or mortgages attached to payment protection insurance
- Name of payment protection insurance company in which you wish to file a payment protection claim against.
A claims company will also usually be able to help you claim back unfair credit
card charges applied for late payments and over the limit fees. In 2006 the
Office of Fair Trading investigated these charges and found that many companies
were charging fees that were unfairly high. The Office of Fair Trading suggested
that a limit of Â£12 should be applied for such charges and, as a consequence,
most companies have now lowered their charges to this level. This means, in
answer to the question "Can I claim back credit card charges?" the reply is
"Yes, if you have paid unfair charges in the last six years.
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