A 220 page introduction to all things consumer related by our own BankFodder.
Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.
Cagger since : Apr 2009
Posts : 242 (0.08 post per day)
Re: Miscalculated Interest (APR) on Credit Card
Originally Posted by sequenci
Did you calculate the interest from when the account was opened + compound the interest charges?
Hi, I just added it all up from the statements (manually) and did the calculations from the results.
Tomorrow I will use that very good spreadsheet (CISheet v101.xls)
I posted this thread with regards to the interest they charged me on my purchases, as according to my calculations sometimes I nail the fiquire bang on but other calculations are coming up short... I estimate that they have over-calculated the interest by roughly £80, but I've not seen anyone bring this up on CAG.
I've not seen a claim against mis-calculation of interest, though I did read an article earlier where the author estimates billions of £'s have been reaped by the banks via over-calculation of interest.
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