Emma Vs Capital One

[emmamaw]

Hi guys,

 

Just won my first case against Halifax, so I'm now going through every account where I've ever been charged, starting with Capital One.

 

The really annoying thing about this account is that the credit card only has a limit of £200, and I've had it for less than a year. I've spent about £100 on it, but because of the charges, the balance now stands at £330.

 

I've noticed that Capital One usually fall at the second or third hurdle, not dragging it out all the way like the Halifax, so I've just sent off my prelim, and I'm when they credit the charges back to the account, I'm going to pay off the balance and close the account.

 

Anyway, that's me, so I'll let you know the progress.

 

Oh, I also included a little message in my prelim, requesting that they discuss the matter through written correspondance only, and not by telephone, after suffering cruel torture by telephone from the Halifax. Let's see if it works!

[rkilbride]

I too went for it with the halifax as my 'test' case. I managed to get all my charges back on my current account, but had to go as far as the Moneyliam stage.

 

As you can see from my list, I have many to go at, Capital One being one of them. I am at the same stage as you, so will keep watching.

 

Good Luck!

[emmamaw]

Well I haven't heard anything yet, but some refunds have appeared on my online account - £44 Overlimit fee refund and £44 Late fee refund. I suppose I'll get a letter soon offering it as a 'goodwill' gesture!

 

I'll be sending my LBA tomorrow, but I wanted to check something first. By my calculations, every month I am being charged interest at around 22% on my oustanding balance, which includes the unfair charges I am requesting be refunded. I believe that I'm entitled to this interest back, as we claim overdraft interest on unfair bank account charges. Am I right, and if so, how do I calculate this? Is there a way to alter the standard spreadsheet to calculate at this interest rate? Also how will I word this in the LBA?

 

Sorry for all the questions guys - just as you think you're an expert on this, the banks throw something new at you!

[emmamaw]

Hi Guys

 

Really could do with some help over claiming back extortionate interest from Capital One. I need to send the LBA today. Can I claim back interest of 22% on the charges?

 

Thanks

[hagenuk]

You can try, bear in mind this has yet to be tested. I am doing this with Capital One also - and a one or two others.

 

It might be wise to include something like this in the LBA, in order that, should the claim for contractual interest fail you get the 8% statutory interest.

 

"The Claimant also claims interest at a rate of22%, from the date of each transaction to (date of claim) of £xxx.xx, as set out in the attached list of charges. The claimant further claims interest at the same rate up to the date of judgment or earlier payment, at a daily rate of £xx.xx per day.

 

The Claimant believes this rate to be justified under the principle of mutuality and reciprocity, and is based on the Defendants cash advance interest rate that would be applied under the terms of the above mentioned account.

 

Should the court find that this interest rate is not applicable, then as an alternative the Claimant wishes to claim interest pursuant to section 69 of the County Courts Act 1984.”

 

 

Regarding your earlier post ref the calculation of this interest, use the standard spreadsheet but alter the formula from 8% to 22%.

[emmamaw]

Thanks hagenuk

[Roseperrywinkle]

Dear Emma

I am a virgin CAG user

I want to start the process against a few banks and do not wish to mess things up

I have no clue where to start

Is there a template somehwere I can go to?

[hagenuk]

Hello Rose

 

Look here first,

 

http://www.consumeractiongroup.co.uk/forum/welcome-our-forum/

 

Then here,

 

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/

 

And here,

 

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/243-step-step-instructions.html

 

Templates for letters are found here.

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/

 

Best of luck with your claims

[Pixlmixer]

Hi Emma

 

Looking around cant seem to find which address to use for Cap 1 prelim letter, could you please oblige... Many thanx.

 

Watching to see how you progress - good luck.

 

Pixl.

[hagenuk]

Capital One

250 Euston Road

London

NW1 3JJ

[Pixlmixer]

Thats great, prelim printing now...

[emmamaw]

Hi Roseperrywinkle,

 

I remember when I first discovered this site, feeling overwhelmed by the ammount of info and all the technical jargon. I was also a bit sick of everyone telling me to read all the FAQs - as if I was stupid. However it really does all fall in to place and then you can start your claim confident that you won't mess it up over something silly.

 

Good luck!

 

Emma

[emmamaw]

Well on the 18/8, I noticed two lots of £44 had been credited to my Capital One card on my online banking, so I waited for a letter to see what they had to say. It arrived yesterday, and said that it was a godwill gesture. It wasn't as heavy-handed as the Halifax are, nothing about final settlements or anything like that.

 

So today I've sent off my LBA, thanking them for their interim payment of £88, and requesting the outstanding balance. I've decided not to claim interest at the credit card APR, as it would amount to pence, not pounds, but when I claim back on some of my larger credit cards, I might try it.

[Roseperrywinkle]

Hi

Can anyone help re how to work on excel and calculate my interest/list charges?

I feel like a write fool!