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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 credit card & identity theft cover by banks and CPP have been sent claim forms to get money back. Successes are now flooding in - here's a guide to getting your share of the £1.3bn redress pot.

If you've received your claim form but haven't claimed you've got until 30 August, so we've put together template statements to help. Pick the one that's relevant to you, adapt it to your circumstances, send the claim form back, sit back and wait for your money.

CPP reclaiming - the story so far

We're currently drowning in success stories of people that've sent their CPP claim forms and got cheques with their money back. Here are a couple of successes to whet your appetite:

"Thank you for help with CPP mis-selling claims. I received a cheque for £1,010."

Helena (via email)_

"My 72yo mum thought her CPP letter was a scam, I convinced her to fill it in: £260. Thank you."

Joanne (via Twitter)

Why do so many people fall for this?

Imagine that before you read this guide someone offered to sell you "Martin Lewis punch you in the face insurance" against the event that because you read it I'd come find you and smack you.

Of course it's ludicrous, but then wouldn't you think, "There must be a reason they're selling this insurance. He must've done it before. They wouldn't be selling it unless there was a tangible, manifest risk."

Now you've thought that, it starts to create a doubt, maybe you should get it, after all it's not that expensive, and peace of mind against being lamped on the nose is important.

Sound ludicrous? Well now turn it to a financial example, where people know less about the facts. Building fear, employing PR people to pump up ID fraud worries, helps sell policies. Millions signed up to CPP to protect themselves from a conjured risk that sounded believable.

WHAT TO DO DEPENDS ON WHERE YOU ARE SO FAR...

"I've sent my claim form and got a refund - HOORAH"

We're hearing of great successes from people that have used our template statements below to fill out their claim form. If you haven't already let us know, share your success and see how others have got on in the forum discussion.

"I've got a form but I haven't done anything yet"

What are you waiting for! If you've got a form and you want your money back, you've got until the end of August to reclaim. As of June only 25% (1.7m people) had sent their claim form back, with a total value of £328m being paid. Which means there's still millions to be paid back out of the redress pot.

Reminders letters were sent out during June to those that still hadn't sent their claim form back, if you're not sure how to fill it out, follow the template statements below, and send it back.

Quick questions

What were the main mis-selling tactics?

Should I claim if I still want the policy?

"I sent my form and haven't heard back"

Don't panic. CPP is sending cheques out on a rolling basis, so it may just be that a lot of other people sent off their claim form before you. However, CPP say's that it's aiming to get back to people within eight weeks, so if it's been much longer than this it may be that you've provided incorrect information. If this is the case just call the scheme team on 08000 83 43 93 to find out.

Quick question

I've been phoned by someone claiming to be CPP, is it?

"They rejected me after I sent in my form"

Wow if that's you - you're the first person we've heard of. We know some who have been asked for more details, clarification or ID. Yet we've not heard of anyone who has actually had their claim rejected. If that's you please get in touch.

"Oops - I got sent the form and binned it/lost it"

Many people tell us they binned them thinking they were junk mail. If so, or you didn't get a letter but think you've had CPP since 2005, don't worry - just follow our reclaiming help below.

"I didn't get a letter and think I should have"

This could be for a number of reasons. CPP might have the wrong address for you, you might have got the letter but chucked it away thinking it was spam, or have confused it with another policy. See reclaiming help below for what to do if you don't have a letter.

Quick questions

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

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

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

Who is excluded from the scheme?

What do the letters look like?

Letters (shown right) with claim forms were sent out between 10-26 February to ask those mis-sold if they want to be considered for redress. 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.

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).

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. Read more on the letters CPP have sent.

Quick Questions

What did the policies cover?

Are CPP and PPI the same thing?

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

Get all the latest CPP updates Get MoneySavingExpert's free, spam-free weekly email full of guides & loopholes

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. The number is temperamental and sometimes doesn't connect. If this happens to you, leave it five minutes and try again.

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 (cut and paste this, 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 (cut and paste, 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 (cut and paste, 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 (cut and paste, 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 (cut and paste this, 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 (cut and paste, 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.

2 - You accidentally chucked the letter away

You may have got the letter, but accidentally thrown it away thinking it was spam. If that's you, 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.

3 - 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.

4 - 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 insurance wasn't regulated), you won't have received 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. Read more on how to complain.

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. Read more on how to get help.

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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