supRo Posted January 29, 2007 Share Posted January 29, 2007 Hi, Is anyone clued up on credit card payment protection plans? I have only just found out that I've been charged for this without my knowledge for the last two years! It's an account that I don't use much and I've not noticed it before! Unfortunately it's online so I don't have any printed statements to prove otherwise. I have made a complaint and they will look into it. I strictly oppose these kinds of protection plans and that's why I have never taken out such policies with any other financial products. The credit card company is claiming that I had verbally agreed to it on a phone call. They will listen to that phone call in the next 2 weeks and get back to me. Any advice? Don't they need a signature for a customer to take up such products? Thanks, Ro Quote Link to comment Share on other sites More sharing options...
Jake Posted January 30, 2007 Share Posted January 30, 2007 No, they don't need a signature. I got stung in a similar way by Egg. Wankers Quote Link to comment Share on other sites More sharing options...
sdavies Posted January 30, 2007 Share Posted January 30, 2007 I had something similar with Egg too. They are quite aggressive at selling this crap to you, and will either gloss over it in a rampaging terms and conditions no drawing of breath way, or attempt to shame and brow beat you into taking it. I take no such crap any more. Once I figured out they were pwniing me for something in the region of £80 a month (and when you read the fine print, this actually does not protect you from anything) I decided to tell them where to stick it... when asked what I would do should I fall terminally ill or lose my job, I said - find a new job, or if terimnally ill, do you think I will give a sh*t about the loan? My house will be paid and I will flog it or something!! - feck orf, cheeky feckers - do you want my business or not? It does seem that a verbal agreement on the phone carries a hell of a lot more weight than it used to... yet if you try and cancel anything on the phone.. NoooOoOO... must have your feckin signature witnessed by your grandparents and their grand parents and an official from the local government with his grandparents!!! Quote Link to comment Share on other sites More sharing options...
supRo Posted January 30, 2007 Author Share Posted January 30, 2007 I'm just completely gutted as I know these sorts of protection are rip-off! I looked at the T&C's yesterday and there are so many disclaimers for them not to pay out anyway! I'm with egg too! Quote Link to comment Share on other sites More sharing options...
JustGav Posted January 30, 2007 Share Posted January 30, 2007 Had something similar.. I had payment protection.. When I got made redundant, there was so many hoops I had to jump through. The fact that I got a payout meant I couldn't use PP since I had money in my account.. So I had a bit of cash, no work and all the usual bills to pay, you can imagine how long my payout lasted... Quote Link to comment Share on other sites More sharing options...
DaveK Posted January 30, 2007 Share Posted January 30, 2007 At the very least - if they say you agreed to it by phone and are going to check their recordings, I would also want a copy of the recording. You are making me paranoid now, since I'm also with Egg but I'm pretty sure I don't have it..... Quote Link to comment Share on other sites More sharing options...
penguin Posted January 30, 2007 Share Posted January 30, 2007 wankers Quote Link to comment Share on other sites More sharing options...
supRo Posted January 30, 2007 Author Share Posted January 30, 2007 I've looked on financial websites and one of the ways that Egg do the scam is on their balance transfer web page: The Payment protection option is defaulted to 'yes' when you do a transfer but the option is on the bottom of the page so that customers click on submit without realising they have opted for Payment protection. Looks like GE Capital Bank has been doing similar naughty stuff: http://news.bbc.co.uk/2/hi/business/6313203.stm Quote Link to comment Share on other sites More sharing options...
edd_t Posted January 30, 2007 Share Posted January 30, 2007 i got stung by this too. the company was CCP. for 3 years i didnt know i had it, until they sent me a key ring saying thankyou for my business!!! I though WTF, called them and got in cancelled! Quote Link to comment Share on other sites More sharing options...
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