thanks for clearing that up Glenn. i presume that 'cash advance' is the same as 'cash transaction', which is what they refer to on their website?

I'm about to send in my prelim letter with my schedule of charges etc, but all the figures being banded about on this board has done my head in. i'm claiming back for the last six years to jan 2001, and obviously MBNA didn't treat my SAR as a SAR so i've just got a list of transactions. What would be a fair figure to use as the interest rate they would have charged me and what would be a fair rate to charge them as contractual interest?

i want to hit MBNA with everything i can and a s.85 sounds nasty. but what exactly is it?

right, on fees totalling £2170, using the above formula i calculate that at interest of 24.9%, compounded monthly the interest is £2794.95 ! does that sound about right? is there anything that i've missed?

Fair enough, thanks anyway. How do i work out what interest has been charged on the fees then? if the formula is ok (and it should be - i got it off t'internet!!!), and i calculate compounded contractual interest against eeach unlawful charge, that should basically cancel out the compounded contractual interest that they've charged me. won't it? my head's hurting.

Hello all, Hoping someone might be able to enlighten me on a couple of points. Firstly, I've recently received back from MBNA the list of transactions in reply to my SAR, which of course, they didn't treat as a SAR. Anyway, the over limit and late payment fees are straightforward enough, however there are two different types of interest being charged:- cash advance interest and retail interest. does anyone know what rates these are being applied at, and more importantly can i claim either of them back? secondly, due to the sketchy info supplied i'm having trouble getting the interest spreadsheets to work as i don't have balance info etc. do any maths teachers out there know if the following calculation is ok: total amount owed = principle(1 + r)n where the principle is the original fee charged, r is interest rate applied per time unit and n is number of time units. so, for an £18.00 fee charged in january 2001 and using the contractual rate of 24.9% p.a., but compounding the interest monthly you would get: total = 18(1 + 0.02075)74 NB: 0.02075 = 24.9 / 12 = 18(1.02075)74 = 82.28 therefore, interest owed on this amount = £64.28. much obliged if anyone could offer some reassuring advice before i kick MBNA's ass!