In May I sent a letter to capital one complaining about PPI on an old credit card I had with them about 12 years ago. I then sent a SAR to them at the end of May (should have done this first but didn't know).

I spoke to them on the phone today and they have advised that they have looked at my case and are making me a goodwill gesture of £10. I am not sure what to do at this point as I am sure the card had a limit of several £1000 and at the time I would have used it a lot so I suspect I am just being fobbed off.

Unfortunately I don't have any documentation on this card but will hopefully get more info when I get the info from my SAR.

I will recieve a letter from them in the next few days with this offer in writing. I am not sure what to do at this point. Can I ask them to send me a breakdown of how the came to this figure or good will gesture?

It is obviously not a lot of money so I could also just wait for the sar then refer it on to the FOS if I think they are trying to pull a fast one.

Ideally would be best to have the SAR before I decide either way so will perhaps try the tactic of asking for a breakdown.

What would be my best option at this point?

Welcome to CAG

Wait for your DSAR...then submit a full claim on your findings.

Andy

Thanks Andy, can I do this though? I thought once I made a complaint, they investigated it and made an offer that was it and all I could do next would be to go to the FOS? Can I make a new claim when I have new information from the DSAR?

Well your not accepting their response.....of course you can submit a claim..either through the FOS or yourself direct

I will wait and see what the letter says, how it is worded and take it from there. Hopefully my SAR info will come soon!

I recieved the SAR today and it appears I was wrong, the credit limit of the Capital One card was only £200 and I did not use it much at all so the one with the higher limit must have been another card which I am still waiting for SAR info on.

According to the SAR info I only ever paid, about £5 in PPI so 8 % of that over 16 years would work out to about £10 in total (Inc the PPI payments I made), does this seem right?

Thanks for the advice!

their int rate not 8%

Thanks dx100uk. I always heard the interest rate was 8% for PPI Payouts.

The Card Interest per Annum was 20.00% and the APR was 39.0% so does that mean that I ought to get at least 20% or 39.0% of £5 x 16 (years)? So I should be getting £21 or £37?

the PPI sums you paid each month were charged interest at THEIR RATE compounded [30.9]

until either the card entered a credit situation or you closed the account whereby their int stop

FROM THAT DATE you are entitled to 8% simple interest