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HSBC card charges which am paying interest on in managed loan


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I claimed back the charges from my HSBC mastercard....but my hsbc mastercard and overdraft were put into a managed loan..


So although they have refunded the charges which have already been paid back to ma about 6 months ago, thinking about it those charges would be incurring interest on my managed loan too?? Is that right?


If so am i able to claim back the additional interest on my managed loan or now that I have accepted their offer of refund of charges plus 8% interest and recieved the money back from, is it too late?

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Hiya Stush and welcome to the HSBC forum :)


It really depends on what basis you accepted the banks offer and if you have had the cash back from them why do you still have a managed loan?


If your charges were rolled into a managed loan then you should have paid that off when you had the refund then you wouldn't be getting additional interest but if you spent the money instead then you are getting charged interest on whatever you spent the money on :rolleyes:



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the reason why i have managed loan still is as the loan was for more than the charges as it was set up to clear my card and o/draft....majority of it cleared but still think i am payin some interest on charges as the debt would have included them

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from castlebest: It really depends on what basis you accepted the banks offer


I think what pete is saying is that if you received a 'Goodwill' payment (as many of the refunds of charges were termed before the OFT case intervened ) , it means they haven't admitted liability for the 'unlawful' charges , therefore they would argue that there is no refund of interest due.........

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Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.



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