MSE News: Card protection firm CPP must pay Ј14.5m to mis-selling victims

A question about : MSE News: Card protection firm CPP must pay Ј14.5m to mis-selling victims

CPP mis-sold card insurance products between January 2005 and March 2011 on a massive scale...

Read the full story:

Card protection firm CPP must pay Ј14.5m to mis-selling victims

Best answers:

• They have taken payment off my credit card - should I get the interest applied back too?
• I took out a Vanquis credit card 2 years ago and was sold an identity protection policy by a vanquis agent who passed my details onto cpp. When I heard the news today I rang CPP who said Vanquis is responsible for any claims. So I rang Vanquis and the agent said CPP is responsible. Grrrr.. So I rang Vanquis and demanded to speak to the complaints department who are supposed to call me by tomorrow the latest. I'm planning on asking for a refund of the payments plus interest plus compensation. I'm worried they will try to deny responsibility. Can anyone advise me on what to say????
• I had both the CPP policies - card protection taken out pre 2004 but I still have policy number etc. Will moneysavingexpert be producing a template letter to make a claim?
• I've read recently that the banks will be doing all they can to prove you were negligent in order not to pay money stolen by fraudsters back. So having an insurance that would pay our regardless of circumstances might not be such a bad thing for some people.
  The circumstances here do sound different from PPI which was sometimes sold to people like pensioners who could not claim whilst there is no one guaranteed never to suffer from a fraud.
• The main thing for me as with many with CPP is that all my card details are in one place and if my purse is stolen i just have to make one call.
  Who else does the same but is reputable as if there is someone else who does this i'm off after CPP have paid me back what they owe ?
  Any ideas?
• It's a shame that the card protection and identity theft insurance aspects of this are being muddled up. The card protection policies sold by CPP and others do provide a potentially useful service and it is up to the individual whether it is worth their while. The identity theft insurance is arguably completely worthless yet was being aggressively pushed on to people. My autistic son was mis-sold one of these a year or so back and, with my help, he managed to cancel it and get refunded but many others have clearly fallen for it.
• I had protection with CPP on a student credit card taken out in 1998. I closed that card about three or four years later then about three or four years ago I had a payment taken from my bank account of Ј35.
  I called HSBC to ask what it was for and they said it was CPP. I didn't think I had that anymore, certainly was the first time payment had been taken in years. I phoned them to ask why they had taken payment, they didn't really explain, told me that as payment had already been taken they couldn't really cancel it and I had may as well stay with them as they could offer this that and the other for the coming year.
  I also asked why I hadn't received any paperwork to say it was going to be taken or to state I had an up to date policy, they suggested it was because I had moved house since I last contacted them, plausible I guess.
  To be fair I didn't push it any further and reluctantly agreed to continue. Do I have a claim as they randomly took payment after a number of years and told me they couldn't cancel when I enquired about it?
• I've been paying Ј35+ a year to CPP for as long as I can remember but I'm pretty sure it was sold to me via Natwest. We'll see what happens. I'm not holding my breath for any refund.
  Edit - just checked my online statements which go back to 2005 and I was paying it then, so it's been at least 7 years....