morgan stanley or barclaycard ***DELIGHTED**

[brindles]

yes i will just have to wait for the reply.

will let you know as soon as it arrives....or not.

thanks.

[brindles]

yes i will wait for the information to come and report back to you.

i cant say enough how gratefull i am for your advice. thank you slick132.

[brindles]

hi slick. i have now received the documents requested from goldfish. I am now using the spreadsheet to calculate a fiqure to request a refund of charges. i am using the one you advised mackrel to use for his barclaycard account.

Quote:
Originally Posted by slick132
Hi Mack,

The spready I suggested is a CI calculating one.

From post #8, open the Interest Tutorial, go to the Credit Card heading and you'll find :-


Note it says simpler, and not simple. Take a look at it and see if it may work any better for you.

Being seen to be reasonable, when you estimate the int't rate figs, is the best way round the problem of what figs to use.

on entering the charges i note at 10/07/2006 goldfish reduced them from £20 down to £12. do i still carry on entering these lower charges or is that where i stop.

secondly,the interest. my first entry for £20 nov 2006 generates interest of £52.35.
i can see how the interest adds up but am i legally entitled to claim it,will they have a way out without paying the interest.
also i have applied interest at 23.9% as it states on my latest barclaycard statement is this correct as it also says 26.8 for cash. thought best to apply the lower rate.

I have uploaded a copy of there reply letter as they do not have about 3 statements due to technical difficulties.
should i just leave these off or enter a average figure relating to previous months
to tell you the truth,i dont mind leaving them off.

please can you advise me.

thanks.

[brindles]

opps. here is the reply letter stating there are a few statements missing.
should i worry. thanks.

http://i494.photobucket.com/albums/r...2008205638.jpg

thanks

[brindles]

ok bouncing along here.

this is a copy of the spread sheet. can you just let me know if all seems ok please.
Claim Date11-Nov-2008


Interest Rate (%APR)23.90%0.05873%% per day
TOTAL CLAIM:1,673.52







TOTAL AMOUNTS640.00

1,033.52




Charge ReasonCharge AmountCharge DateDaysInterestlate fee20.0011-Nov-2002219052.35late fee20.0012-Dec-2002215951.05late fee20.0011-Jan-2003212549.64late fee20.0011-Feb-2003209548.43late fee20.0015-Mar-2003206147.08late fee20.0010-Jun-2003197643.81late fee20.0011-Jul-2003194542.66over limit fee20.0015-Jul-2003194142.51late fee20.009-Aug-2003191741.64over limit fee20.0015-Aug-2003191141.42late fee20.0012-Dec-2003179437.34late fee20.0010-Feb-2004173135.26late fee20.0012-Mar-2004169934.23late fee20.0010-Apr-2004167133.35late fee20.0010-Aug-2004155129.72late fee20.0010-Aug-2004155129.72over limit fee20.0014-Aug-2004154729.60late fee20.0010-Sep-2004152128.85over limit fee20.0015-Sep-2004151628.71late fee20.0011-Oct-2004149027.97late fee20.0010-Nov-2004146127.16over limit fee20.0015-Nov-2004145627.02late fee20.0010-Jan-2005139625.39late fee20.0011-Feb-2005136524.57late fee20.0012-Mar-2005133423.77late fee20.009-Apr-2005130723.08late fee20.0010-Jun-2005124621.57late fee20.0011-Jul-2005121520.82late fee20.0010-Dec-2005106617.40over limit fee20.0015-Dec-2005106117.29late fee20.0010-Feb-2006100116.00late fee20.0012-May-200690914.10
0.0011-Nov-200800.00
0.0011-Nov-200800.00
0.0011-Nov-200800.00

[brindles]

nope. had enough, why is it so small no matter what size i choose. err,yea.

sorry i just cant adjust it. please help with my questions though

thanks slick.

[slick132]

Hi Brindles,

The schedule looks fine so far but I've unapproved the posts which showed your personal a/c no. and name !!

Adapt this letter re the missing state's - http://www.consumeractiongroup.co.uk...n-act-non.html.

I don't think you should include estimates as they will have to be formally amended if you've filed your claim and this will cost you more for the N244.

You should reclaim all the penalty chgs, including the lower ones - they're still penalties and, as such, are unlawful.

I'm not sure you need to use the interest figure you say of 23.9% but I'll ask Steven4064 to comment on this.

[steven4064]

I've had a look - Whether the spreadsheet is correct or not depends on what you are trying to do.

If you are trying to recalim the interest they levied on the charges you can't do it like this because it doesn't take into account where you made payments.

If you are claiming interest in restitution, then the calcualtion is correct but do you understand the arguments relating to restitution?

All these things are explained in the interest tutorial linked from my signature.

[brindles]

hi slick,
i have now received a reply to my S.A.R and have worked out the charges. actually no working out needed as its plain to see. I am going to enter the fiqures into this spreadsheet, that i see you have recommended before in other threads.http://www.shweb.pwp.blueyonder.co.uk/interestcalcs.xls

I just need to know that if a late charge is £20 do i enter the whole £20 or just £8 after removing £12 for the amount i understand they can charge.

Im guessing as these charges are before 2006 i ask for the whole amount as i have noticed in 2006 a late charge was reduced to £12 from what had always been £20 before 2006.

Can i claim the late charges for £12 and /or should i not really be entitled to claim the £12 late charges.

just a bit confused here, have read hundreds of posts(feels like that anyway) and im sure i understand just my head seems to be swimming with it all. a nudge in the right direction please.

thank you.

[slick132]

Hi Brindles,

You can reclaim the whole amount of every penalty charge they made to the a/c.

[brindles]

thank you for the reply and i have filled out the spreadsheet. i was feeling nervious about this but the one you recommended is fantastic working it all out for you.

I have noticed after entering todays date to finish the spread sheet it automaticaly added on the interest from yesterday. I am amased.

Is this the best savings account in the world or does my claim date start from the last charge on my account. in other words can i wait another month and claim more? I dont want to do this as i wish to send my claim as soon as, just i wonder.

soon as i print of the spreadsheet and let you have some fiqures. err um whats the polite donation amount.lol,

thank you slick.

[slick132]

Hi Brindles,

It would be wise to process the claim as soon as you can. For reasons explained earlier, it will be months before this is settled, so you will get interest up to when settlement is agreed.

You've not responded to Steven's comments about understanding the arguments relating to restitution. It's important that you do, and that you're aware of the opposition which BC will put in your way.

The site's policy is a suggested 5% donation of what you've been helped to reclaim, once you've been successful. If, in the meantime, you want to donate, that is your prerogative.

[brindles]

hi steven,
yes i read the tutorial yesterday. under the heading
estimating interest charged and where it says credit cards there is a link to a spreadsheet(not advanced).

I have simply entered the charge,the charge amount and date. the spreadsheet did the rest. All this must be ok.

I used 23.9% as i believed i should use the most up to date fiqure and this is what is on my statement.

So should i just adjust the apr. any idea to what please.

or am i totaly going down the wrong road.

help please, thanks.

[brindles]

hi slick.
thank you i didnt see the question from steve.
I will post the template in the morning.

thanks.

[steven4064]

Originally Posted by brindles

hi steven,
yes i read the tutorial yesterday. under the heading
estimating interest charged and where it says credit cards there is a link to a spreadsheet(not advanced).

I have simply entered the charge,the charge amount and date. the spreadsheet did the rest. All this must be ok.

I used 23.9% as i believed i should use the most up to date fiqure and this is what is on my statement.

So should i just adjust the apr. any idea to what please.

or am i totaly going down the wrong road.

help please, thanks.

I realise that the bit about estimating interest on credit card charges is not very good. The best (ie most accurate) way is to do it as I describe for current accounts. Just putting the charges in the simple spreadsheet with the normal APR over-estiimates (possibly grossly) the interest payed because it doesn't take account of any payments you made. Of course, if you didn't make any payments after charges had been added or if you always had a balance greater than the total charges or nearly so, then it is probably not such an over-estimate.

[noomill060]

Sorry to gate crash-

Something of interest to ex-Morgan Stanley credit card customers-

I CCA'd Barclaycard with regard to a MS credit card a/c- all they came up with was an old copy of *Barclaycard* T&Cs.

*ie: Not a copy of my MS application form or T&Cs.*

Just a thought- draw you own conclusions.


I use this to work out contractual compound interest. Its very good.

Compound interest calculator

[brindles]

hi steve
hi noomill060

ok seems as though im almost there.

steve, my account has a 2600 limit and i seem to always have a ballance around 1800.
as im not to use the apr rate on my statemet then im lost. i have looked at barclaycard web site and there is a range of interest rates for different cards.

Hi noomill,

I have thought about sending a ....C.C.A request but at the moment this is my only credit lifeline. I do suspect that they may not have one though.

I want them to pay me, not credit it to my account. will this happen?

thank you both for your help.

[noomill060]

They may pay you, but they may credit your account instead.

[brindles]

I am thinking that my card is with barclays, and before that my card was morgan stanley, although goldfish had some interest in the middle i have never had a goldfish card.

So i was suprised that the S.A.R i sent to barclays, came a reply from goldfish.

So i am dealing with goldfish it seems.

while goldfish had control of my account i was still always using my morgan stanley card and always received morgan stanley statements and not once did my account number change.

Since barclays took over i have received a barclay card replacing the morgan stanley card, new card number, new account number, barclaycard statements and had to renew my direct debit.

sureley this has nothing to do with goldfish as i had to sign up for a new account with barclays.

given the above would i have a argument for them to pay me direct.

also please dont forget about my apr and how do i know what is the correct % to apply.

thanks again.

[noomill060]

Goldfish / Morgan Stanley credit cards are no more, its been completely gobbled up by bCard as of 23 September. When did you send the Subject Access Request? If t'was pre-23 September that would explain why it appeared to come from Goldfish.