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Reclaim CPP Card Protection Millions mis-sold, get money back

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reclaim credit card protection insuranceUp to 7m people mis-sold worthless credit card and identity theft cover by banks, card firms or CPP, are being sent claim forms to get their money back. This is a full guide to getting your share of the £1.3bn redress pot.

Letters including a claim form to get your money back have been sent. We've put together template statements for the claim form to help you. Just pick the one that's relevant to you and adapt it to your circumstances. Then all you need to do is send the claim form back, sit back and relax and wait for your money.

CPP reclaiming in a nutshell

For years a company called CPP and some banks were pushing insurance products that would either give you card protection or identity fraud protection. But now the regulator has ruled that many of these policies - worth around £1.3 billion - were mis-sold by CPP and the banks.

cpp letterFollowing the ruling CPP and the banks involved are now having to send out a letter to all the customers who were mis-sold one of these policies, outlining how you can reclaim your money back. So if you haven't received a letter already you could be getting one shortly.

If you were mis-sold a policy, you're entitled to whatever you paid out, plus 8% interest, but minus any money paid out by the policy (see how the interest's calculated).

How much could it be worth?

Card protection cost c.£30/yr, so if you had three years' worth, expect around £100. ID fraud protection cost c.£80/yr, so if you had this for three years as well, expect to get £300+ back.

Money is paid back by cheque (you'll get two seperate ones if you've claimed for both policies) and should be sent to you within eight weeks of sending off your claim form.

FAQs

What where these policies?

I'm not sure if I had a policy, how do I find out?

What did the policies cover?

Why can't I find the payments on the card I used to pay CPP?

What were the main mis-selling tactics?

Can I claim?

I didn’t vote on the redress scheme, can I still claim?

I haven't had a letter, am I still eligible?

Who is excluded from the scheme?

I have just made a claim on my policy, will it be affected by the scheme?

I have a similar product not sold by CPP or my bank, will I form part of the scheme?

CPP renewed my policy without contacting me - will I be part of the scheme?

I've got a policy, should I claim?

I put a claim in before all this happened, what do I do?

Should I claim if I still want the policy?

Are CPP and PPI the same thing?

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Ask us questions and give us your feedback

Report your card protection plan reclaiming successes and failures in our forum. Also let us know any extra questions you'd like us to answer.

You should receive a letter from CPP

Letters to claim money from mis-sold card and identity protection policies in 2005 or later have been sent - don't ignore them.

Many people throw financial circulars away thinking they're spam. Don't be one of them. Quite simply, if you don't fill out the claim form and send it back, you won't get a penny.

Click to see full version

Claim letters were sent between 10-26 February

Letters (shown right) were sent between 10-26 February to ask those mis-sold if they want to be considered for redress. Separate letters were sent out for card protection and identity protection.

It included a claim form that has to be completed, signed and returned in the envelope provided by CPP by 30 August 2014.

Any redress paid will be done so on a rolling basis after the claim form has been received - so the sooner you return your claim form, the quicker you should get your money back.

This is the third letter that CPP has sent out. An initial letter was sent in August 2013 to affected policyholders with information about the scheme and to tell them they could be entitled to redress for a policy.

A second letter, to vote on the scheme, was sent out in November 2013. In January 2014, the results of the vote revealed customers backed the redress scheme. The scheme was then given the final thumbs up by the High Court on 14 January.

It doesn't matter if you didn't send back the letter to vote on the scheme - you're STILL entitled to reclaim your money

Don't worry if you didn't vote on the redress scheme when you received your second letter from CPP. Now that it's been approved, you can claim if you were mis-sold and you've been sent a letter.

Beware scam CPP emails or calls

Much like self-assessment tax forms where spammers try and take advantage of people contacting them with copycat websites, beware scam CPP emails or calls.

CPP is only writing to people. If you get an email or call asking for private details about this, ignore it. And remember, never pay to reclaim. It's not a complicated process, use the template responses below to help.

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Ask us questions and give your feedback

Report your card protection plan reclaiming successes and failures in our forum. Also let us know any extra questions you'd like us to answer.

Help filling in your CPP claim form

The claim form must be completed in black ink. Make sure you use capital letters only. You must send the original completed form back in the pre-paid envelope provided – photocopies will not be accepted.

If you make any mistakes, or you've already filled out the form and have realised you've done it wrong, you can call the scheme team on 08000 83 43 93 who'll issue you with a new claim form.

Below are template statements you can use for your claim form. These are just for guidance, you'll need to alter and change them to fit your circumstances.

Separate letters are being sent if you were mis-sold both card and identity protection. If you're sent two letters, you'll need to fill out both claim forms and send them back.

Card protection

If you had card protection, here are the main reasons the regulator found for mis-selling, together with what you should write on the form if you think they apply to you. You only need one reason, so pick the strongest (truthful of course) one.

If you had card protection cover because you thought it covered you for thousands of pounds worth of unauthorised transactions if your card was lost or stolen, you were mis-sold.

Many people were sold on this basis, but they didn't need the protection because they were already covered by their banks.

Template statement (you can cut and paste this, do alter for your own circumstances):

The policy said it'd cover me for up to £100,000 worth of unauthorised transactions if my card was lost or stolen. I didn't need this element of the product’s cover because my bank/card issuer (delete as appropriate) is responsible for any transactions after my cards have been reported lost or stolen.

If you had card protection because you thought it covered you for unauthorised transactions that occurred before you informed CPP that a card was lost or stolen, you were mis-sold.

The level of cover for unauthorised transactions was exaggerated. It only covered people in limited circumstances.

Template statement (you can cut and paste this, do alter for your own circumstances):

The policy said it covered me for up to £5,000 worth of unauthorised transactions that occurred before I informed CPP that a card was lost or stolen. However, it was not explained that I would only be liable for unauthorised transactions in limited circumstances as my bank/card issuer (delete as appropriate) would usually cover me for anything over the first £50 of those unauthorised transactions.

Identity protection

If you had identity protection, here are the main reasons the regulator found for mis-selling, together with what you should write on the form if you think they apply to you. You only need one reason, so pick the strongest (truthful of course) one.

If the risk of identity theft was exaggerated to you when taking out the identity protection policy, you were mis-sold.

CPP exaggerated the risk of identity theft to people to convince them that they needed the policy.

Template statement (you can cut and paste this, do alter for your own circumstances):

I was led to believe that identity theft was a big threat to me and that by not protecting myself with the product I would be putting myself at risk. I felt as though I had no option but to pay for ID protection.

Other mis-selling that could apply to card or identity protection

You can also be considered for compensation if you have any other complaints about the way a card or identity theft protection policy was sold to you. You only need one reason, so pick the strongest (truthful of course) one.

This may include:

If CPP sales staff were pushy and sold you the policy even after you told them you didn't want it, you were mis-sold.

Template statement (you can cut and paste this, do alter for your own circumstances):

I made it clear to the sales staff that I did not want to take out the card/identity theft (delete as appropriate) policy, but they persisted until I purchased the policy.

If it was emphasised that you could cancel the policy easily if you bought it to convince you to buy the policy, you were mis-sold.

Template statement (you can cut and paste this, do alter for your own circumstances):

It was emphasised to me that I could cancel the card/identity protection (delete as appropriate) policy after I bought it. I took out the policy believing this was the case.

If you were pressurised to keep the policy even when you tried to cancel it, you were mis-sold.

Template statement (you can cut and paste this, do alter for your own circumstances):

I tried to phone up and cancel my card/identity protection (delete as appropriate) policy and was told I had to keep the policy.

How to reclaim if you've got no letter

There are a number of reasons why you won't have got a letter from CPP if you think you're eligible to get your money back:

1 - CPP may have an incorrect address for you

It may just be that they don't have the correct address for you. You can contact the scheme team on 08000 83 43 93 and give them the correct address. You should then be sent a letter with a claim form. Just follow the section on how to fill out your claim form above.

If you accidentally chucked the letter away thinking it was spam, you'll also need to contact the scheme team on the number above. Just explain the mistake you've made and they'll send you a new claim form.

2 - Are you confusing a CPP policy with other similar policies like Sentinel Gold?

There are other companies out there, such as Sentinel Gold, that sell similar products. Unfortunately, the Financial Conduct Authority has only investigated CPP and the banks it sold through, so these are the only organisations that make up the redress scheme.

The FCA's told us it's not able to say whether it is or isn't investigating any other firms which sell similar products to CPP. So in the meantime, if you do feel like you've been mis-sold, get in contact with the company directly or take your complaint further to the free Financial Ombudsman.

3 - Were you mis-sold before 2005?

The redress scheme is only for people mis-sold card and identity protection products in 2005 and later. If you were mis-sold before 2005 (when insuarnce wasn't regulated), you won't have recieved a letter.

If you had a policy sold before 2005, but that was renewed after 2005, you'll form part of the scheme explained above.

You can complain to your bank though if you were mis-sold before 2005. These things are best done in writing, but if that's too difficult, don't worry about calling. Just ask they note it down as a formal complaint, and also ask for written confirmation.

To help, we've put together a template letter to start you off - download it and fill in the blanks (use it to help start you off, but the more you write it in your own words, the better):

Template letter

Card protection reclaim letter


IMPORTANT
. KEEP A COPY, IT'LL BE HELPFUL FOR GOING TO THE OMBUDSMAN

We don't yet know banks' attitude to these complaints. But at the start of similar past reclaiming campaigns, such as PPI, banks rejected many cases the Ombudsman later upheld. Full info.

Escalate to the free Financial Ombudsman

If your complaint is rejected by your bank, or by CPP, don't assume that's the end of the matter. You have a right to take any complaint it's turned down to the independent Financial Ombudsman Service. Full info.

To get the ball rolling, you'll need to fill in its complaints form below, which must be signed by hand and posted. Make sure you enclose any paperwork that backs up your case.

As with the first letter to the bank, which you could always copy and paste into here, don't feel you have to be formal. Explain the point clearly, concisely and honestly, all in your own words, just as if you were explaining the situation to a friend. Full info

Ombudsman complaint form, plus guide to help fill it out

Ombudsman complaint form

Complaint form help

Quick questions

How far back can I claim?

I asked to take out the policy, but didn't use it. Was I mis-sold?

The account holder's deceased or needs help, can I do this?

Can my bank punish me for complaining?

What are my chances of success?

How long will it take?

I think the Ombudsman unfairly turned me down. What next?

Please tell us your experiences!

Unlike PPI, this is a very new area of reclaiming with more developments coming out regularly. Please let us know how you get on so that we can keep our guide up-to-date and help as many people as possible.

Ask us questions and give your feedback

Report your card protection plan reclaiming successes and failures in our forum. Also let us know any extra questions you'd like us to answer.

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