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PPI Claims - About PPI

PPI Claim News - 17/12/2009

Christmas shoppers urged to avoid store card PPI

Payment protection insurance (PPI) charges attached to most store cards are a "disgrace", it has been suggested.

According to Love Money, many retailers will be convincing consumers to take out store cards in the run up to Christmas so that they can shop throughout the festive season.

However, the personal finance website said that the cards often serve as a "trap for the unweary".

It suggested the first drawback of store credit is the "astronomical" rate of interest that usually accompanies it, with cards from leading high street names typically carrying an APR of 28 to 30 per cent.

On top of that, the website advised: "The PPI premiums charged by store cards are a disgrace, so just say no to this massively overpriced cover."

This month, the Daily Herald suggested that banks are using PPI charges as a way to subsidise low interest rates, even though claim rates for this type of cover remain low enough not to justify its inflated costs.

Belmont Thornton can help you make a PPI claimPayment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19519462-ADNFCR

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