Advantage Gold- can you claim?

[Guest NATTIE]

Martin3030 got me thinking on this one because I agree you cannot claim the service charge on the account BUT what if the charge took you overdrawn in the first place?

Advantage Gold does charge but surely if you are over the limit on the account and this takes it further than why should it not be included as it is taking more debit interest from you.

I throw this one open to all.

 

Just one last word. If you have an ADGD account then change it back to a Current Plus account because nothing changes on your account except you haven't got the additional benefits of the account. Why pay more if you do not use any of the benefits?

[TillyTrot]

I have last week changed from an Advantage Gold Account but all my monthly statements have had the AG charge and interest i know i can't claim for AG charge but can i claim for the interest. At present i live in my overdraft so always have an interest charge this is what i need to know if i can claim for any advice welcome

[chriswatkins]

I have a loan with natwest, if I cancel my AG, would my interest rate on my loan go up, and if so would it be costing me more than the AG.

I would be grateful for your advice

[Guest NATTIE]

Many people believe that it does, however, the loan is on a fixed rate, and therefore, the answer is NO. Many people keep ADGD, because they believe that this is the case. Personally, I think ADGD is great but as a member of staff I don't pay for it. If I had to, I wouldn't and I know many members of staff who are of the same opinion.

[chriswatkins]

thank you for that advice, I did try to cancel it once but was told that I would have to pay more for my loan, so I kept it on, I will cancel it tomorrow.

once again , thanks

[gizmo111]

thank you for that advice, I did try to cancel it once but was told that I would have to pay more for my loan, so I kept it on, I will cancel it tomorrow.

once again , thanks

 

Surely once you have a fixed rate credit agreement then it cannot change whatever your ancillary arrangements are?

[danmoz98]

Martin3030 got me thinking on this one because I agree you cannot claim the service charge on the account BUT what if the charge took you overdrawn in the first place?

Advantage Gold does charge but surely if you are over the limit on the account and this takes it further than why should it not be included as it is taking more debit interest from you.

I throw this one open to all.

 

 

Advantage Gold is a service, you can opt in or out of it as you please. If YOU choose to opt in then you're fully aware that it comes at the cost of £12 a month (or £13 now or whatever it is, not the £6 it originally was 2-3years ago).

 

The Advantage Gold fee goes out of your account on the same day every month (or at least it should) so you should be aware of the debit, if you don't have enough money in your account when the charge is taken and you go overdrawn, well that's your responsibility. You can't say "BUT what if the charge took you overdrawn in the first place" because ultimately YOU took yourself over your limit by not keeping enough money in your account. You'd be able to claim back the unarranged borrowing charge that would be applied for being overdrawn but why would you be able to claim back the Advan Gold fee?

[c9in]

I am just going through my statements and want to make sure its as accurate as I can get it. Does anyone know when the advantage gold increases happened? The reason I ask is because it looks like its added to other charges on my account on newer statements. On my earlier statements I can see its Service Fee at £6.00 or Charges: Date A/C Account No £6.00. But on later statements I am having in the latter style of Charges: Date A/C Account No £29.00 I can see from these statement the ADVG price has gone up to £9.00 from months when I ve had no charges. Does this mean on the £29.00 Charges they have added the ADVG fee to another charge?

 

Thanks

[danmoz98]

Someone posted it in another thread, but, vaguely i think it was £6 up to the end of 2002, then £9 from 2002-2003, and since then I think it's been £10, £12 and now £13?

[Guest NATTIE]

damnoz98- I have heard of many cases of misselling ADGold so my question is not asking well its a service so tough luck but if the fee itself for a service that you may wrongfully believe will keep your loan at a fixed amount and by changing it will mean paying more on the loan, then that is misselling. As the loan is fixed then it cannot be changed to a higher rate because you choose to either have or not have Advantage Gold. If a product is missold and it is the cause of the charges then my question really is, why can it not be included?

And for info..£12 since June this year but the other figures you quote are correct.

[scott150663]

hi

 

You need to ring cobbetts & the court to explain that u have made a simple error which u need to retify..........

 

then fill in the N244 form (COSTS £35) and submit it to the court & cobbetts............

 

this is very straight forward , so dont worry............it will not get thrown out if u do the above

 

Scott

[bally35]

The Advantage Gold is the same as the Ufirst gold account with Ulsterbank.

Yep nearly always missold.

I think that customers will now hepfully say

"Right let me see the T&C" and Ill come back to you when I have reached a decision (cos we are all a little more savvy now).

tHIS WILL NO DOUBT HAVE A FURTHER DETRIMENTAL EFFECT ON rbS "POINTS "SYSTEMS (wHAT A SHAME)

[bally35]

Thats the "points" the branch gets for selling you the account in the first place

[mrskull]

Hello

I am trying to close my account. I also have a Natwest loan. They told me that I can only pay the loan via the Natwest account and that I cannot downgrade either. Is this legal? Basically they won't allow me to close the account so that they can get the 12 pounds/month.

thanks for your help.

[Guest vortex]

They are talking nonsense because you can. THere is no term in the account that states you must keep it for an amount of time simply because you have the loan at a cheaper rate. It is a MYTH of advantage gold. Did they mention the charge when you took the loan or upgraded to advantage gold? If not I would suggest you also ask them for a copy of the paperwork or they will need to refund the whole amount charged to you. I may not be around too much on this forum now, so good luck and do believe that nonsense about advantage gold, cos the MYTHS are vast.

[Gump]

One thing I noticed is that they will give a better loan rate if you have AG. I was given a quote where they said they would reduce monthly payments on a loan by £8, but the disadvantage bronze costs £12 per month, so all a bit pointless!

 

However, I'm sure I didn't see this in the literature, do we have a case for mass miss-selling on this one? The reason I got it originally, was because I noticed the Lending department always seemed more helpful when having AG. Now that the fee is so high I've got rid of it.

[Guest vortex]

Gump, simply not seeing it when there is a Welcome Pack sent out and regular updates if or when things change is not a case of misselling. You not signing the paperwork for it, IS.

With regards to what you may appear to experience. Perception is everything, some days I perceive them to be plain obstructive and other times helpful and each depends on the day I am having. Would not read much into either having or not having the advantage gold account.

 

minor point: there is a website called disadvantage bronze i think.

[road warrior]

If enough of us who have been mis sold Advantage Gold got together would it be possible to place it in the same class as mis sold PPI and reclaim the payments?