 Capital One offered me 170 pounds! They actually owe me 800 pounds!!!!! What do i do?
hey
Its been over a week since i last put a response on... I got a letter from Capital One last week with a offer of 170 pounds. They owe me nearly 800 pounds in excesssive fees and they offered me something way less.
This is what the letter stated:
Thank you for taking the time to write to us about the fees we've added to your account . I understand you think these fees are unlawful and im sorry you feel we've treated you unfairly.
To explain, we automatically add late payment fees if your payment is missed, arrives late or isn't enough to cover your minimum payment. We'll add overlimit fees if your balance goes over your agreed credit limit, which is 200 pounds.
When we opened you account in Novemeber 2002, we sent you a credit card agreement which stated these fees. By signing and returning this to us, you agreed to the terms and conditions for the account, including the fees.
As you are probably aware the Office of Fair Trading, OFT, havent challenged the right of banks to charge default fees, but merely the level of those fees. Although we feel 20 pounds is a just fee, we've reduced our fees to 12 pounds so that we're in line with our competitors. I appreciate that you've incurred previous fees at the higher rate, and would like to address this.
I've reviewed you account and as a matter of goodwill, id like to reduce the fees we've added to your account to 12 pounds each. This amount is 160 pounds. I have also refunded an additional amount of 10 pounds as an acknowledgement of any interest you may have incurred. This amount totals 170 pounds and you'll see this on your next statement.
To avoid more fees you need to make sure we receive your monthly payments on time. On your statement, you'l find your payment due date and a date we recommend you make your payments by. Also you need to make sure your balance doesnt go over the credit limit.
While your disputing these fees, it is important that you maintain payments as your account balance consists of transactions that you have made. Failure to do this may result in negative information being recorded on your credit file, which may affect your liability to gain credit in the future.
I hope ive explained things clearly, but if you do have questions please write to me again. You'l find my address in the leaflet included, which also explains our complaints procedure. If i dont hear from you within four weeks i'l consider this matter closed.
Please accept my apologies for the inconveniance this has caused and Im sure we'll able to put this experience behind us.
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Do you believe that this is what they wrote to me. Do i accept or keep fighting? The 170 pounds, how will i receive it? Do i have to file court proceedings with them now? Please help me!!
Thanks for everything !!
Shahid | 
