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I have received a copy of my Barclaycard statements since September 2004. While attempting to calculate all the charges which I had been charged, I came accross a note at the bottom of each statement (either on the statements with the late payment and exceed limit charges or just late payment) stating that I have to pay the minimum amount (lets say £35.00) followed by between £18.00 to £23.00 which increased the minimum payment to £58.00.
What confuses me is that they have already charged me £24.00 for the late payment and another £24.00 for exceeded limit (or just the late payment). So what are those £21.00 to £22.00 charges for? It did not say on the statements.
My credit limit was £750, I had stopped using my credit card since September 2005 (balance was £746.21 thanks to all the charges) and had been paying the minimum payments ever since (some months I paid more) but unfortunately I did on few occations paid late (max 2 weeks) hence the charges.
Today my balance is £1047.80 even though I had stopped using the card and had been paying, all due to again their charges and the payment protection plan and they have the nerve to charge me for going over the limit even though it was their charges,interests and that useless payment protection plan which made me go over the limit. I did cancelled the PPP a few times but still nothing was done and I am still being charged for it (don't even need it the first place because at the time of card application, I was self employed but was told I do need the PPP).
So my questions are (and I really do hope that someone could assist me):
What are those £18.00 to £23.00 charges for? It did not say on the statements.
Do I calculate them together with all the other charges and claim that back?
Because I stopped using the card since September 2005 and my balance then was £746.21 (including all charges) and now my balance is £1047.80 even though I had been paying and again I must admit that I had on several occations been paying late. How do I go about calculating the interests on the charges?
Also, on my statements there are 'interest on standard balance' and Interest on cash balance' ; what are those and do I calculate them together?
By the way, I am using the excel sheet for credit cards from the library.
It is all so confusing....Please, please, please assist me. Many thanks in advance.
Hi there, not sure without seeing the statements but it sounds like it could be say you missed a month's payment in August, in September they would put on the statement pay the amount due for August now and the amount due for September by the normal date for September. I don't think they can be charges as such, otherwise it would say on the statement what the charge is for.
To work out how much interest is applicable to the charges alone, follow the step by step instructions given in the notes page of the spreadsheet. I too used that one. If you get stuck let me know and I'll try to help.
You can't claim back the interest on cash balance because that is purely interest they have charged you on cash withdrawals. Therefore it can't have been interest on any penalty charges they put on your account.
Hi there, not sure without seeing the statements but it sounds like it could be say you missed a month's payment in August, in September they would put on the statement pay the amount due for August now and the amount due for September by the normal date for September. I don't think they can be charges as such, otherwise it would say on the statement what the charge is for.
Hi Bong, that explains it.. Silly me ...All those charges and interests are so complicated and confusing.
Originally Posted by bong
To work out how much interest is applicable to the charges alone, follow the step by step instructions given in the notes page of the spreadsheet. I too used that one. If you get stuck let me know and I'll try to help....
You can't claim back the interest on cash balance because that is purely interest they have charged you on cash withdrawals. Therefore it can't have been interest on any penalty charges they put on your account.
Hope that helps a bit
Many thanks for your help. I did calculate the two interests together before putting it on the spreadsheed but somehow I felt something is wrong somewhere. I did follow the notes the first time around but still got it wrong. No worries, this time I will try to get it right ....I mean I will get it right.
Urgent help needed.
on standard balance' and Interest on cash balance' ; what are those and do I calculate them together?
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Re: Urgent help needed.
Originally Posted by bong
