Capital One Card

[270091]

Hi, newbie to the group and would like to find out if anyone knows Cap One's latest policy on refunds?

 

I have just sent them my claim for £1500 Charges and interest over the last 5 years. I am concerned they might close my account and call in the debt - can they do this ? - I owe them considerably more but I'm determined not to let them away with it.

 

PS I notice they have recently reduced their charges to £12 in line with the OFT reccomendations.

[ukaviator]

Hi and welcome

 

It is not often that they close an account. You have to be really bad with the running of your account for them to do that.It would also be seen as retalitary action, which is a breach of the banking code. You can claim back your charges and the interest on late payment and overlimit fees too. Claim back the interest at the contractual compounded rate. You will see this on your statement.

 

eg... 1.789% which equals an APR of 21.46% as an example.

 

Thats 1.789% X 12 months.

 

You add this to each charge if your claiming the contractual rate they have already charged you. Use the spreadsheets on this site to add the interest to each charge,you will be surprised how much they have charged you at the compounded rate.

 

Hope this helps

 

Ukaviator