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Advice for a novice plz.


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Evening peeps,

 

Some months ago (October) i started to look into my MBNA account to see if there were any charges on there (the account was closed last april).

 

To my horror i saw there were £624 of charges on the account, small potatoes but i thought bugger 'em!

 

i used the calculator on http://www.moneysavingexpert.com/reclaim/credit-card-charges to work out my interest, of which it was £111. I requested it back from MBNA and was to where to go, as the charges were fair.

 

I went to the FOS who have just (friday) wrote to say that MBNA will pay £588 plus £110 in interest.

 

SO, im now wondering as they are willing to refund without a fight have i under valued my interest?? AS reading the forums MBNA would prefer to kill kittens on live TV than part with their/our money.

 

hope this makes sense

 

x

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FOS are satisfied with the fairness the repayment so accept

it.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

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Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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Evening peeps,

 

Some months ago (October) i started to look into my MBNA account to see if there were any charges on there (the account was closed last april).

 

To my horror i saw there were £624 of charges on the account, small potatoes but i thought bugger 'em!

 

i used the calculator on http://www.moneysavingexpert.com/reclaim/credit-card-charges to work out my interest, of which it was £111. I requested it back from MBNA and was to where to go, as the charges were fair.

 

I went to the FOS who have just (friday) wrote to say that MBNA will pay £588 plus £110 in interest.

 

SO, im now wondering as they are willing to refund without a fight have i under valued my interest?? AS reading the forums MBNA would prefer to kill kittens on live TV than part with their/our money.

 

hope this makes sense

 

x

 

 

You have a choice.

 

fos have effectively found in your favour and yo have been offered a refund which, if you are happy with it, you can accept.

 

A couple of questions for you to consider....

 

Why the difference between the amount you claimed and the amount offered?

 

The calculator you used works out interest at 8% simple interest. You can claim interest at least at the rate they were charging on the card.

 

Accepting the fos offer is straight forward and the money is there pretty much straight away.

 

To claim the higher rate of interest and thus an increased award you would probably have to issue in court.

 

Which way would you like to go?

 

ims

 

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