If you have been sold credit card payment protection, you might be entitled to a refund for these premiums, for example, if the bank has sold it to you under false pretences, or the insurance is not the right product for you.
Problems that are covered
• The company has failed to supply the goods or services, or has supplied goods not up to standard, or
• The company has misrepresented what it is supplying - for example, a software supplier says a software package you’re buying will work with a particular computer when it doesn’t.
How to claim money back on credit cards:
If you pay for something on your credit card and there’s a problem, your first step should be to contact the company you bought it from, to give them a chance to put things right.
The bank will likely ask you to prove why you are entitled to a refund and therefore you should be prepared to answer their questions which may prove to be a complicated process depending on a range of factors such as your time, understading of the insurance, or your confidence of dealing with banks.
However, if they don’t reply, or they won’t give you a refund, or it’s clear there is no point in contacting them, you can refer the refer you problem to an external dispute resolution scheme such as Australian Financial Complaints Authority (AFCA).
AFCA is a non-for-profit organisation that is an independent body which means they do not work for either party. Claimo is a claims management service that advocates of behalf of consumers for a refund of credit card protection on a No Win No Fee basis. Therefore, we work for you and not the bank.
The information provided in this article does not constitute legal or financial advice. Consider if the information is right for you.