MBNA Credit card charges 2002-2008

[lra]

I have a list of transactions which includes all late and over the limit charges from 2002-2008, I also have a copy of the credit card application form.

 

I want to reclaim all these charges back with contractual interest if possible or 8% if I have to

 

The application states that the monthly interest is 2.25% of the account balance but how do I calculate the APR so that I can put this into the spreadsheet.

 

Has anybody had success at reclaiming charges back from MBNA that are older than 6 years???

[BankFodder]

Don't worry about the 6 yrs. You can claim all the way back

[lra]

At 8% it totals almost £2000 that's all the way back

[ims21]

This spreadsheet will convert the monthly rate to an APR

 

MonthlyToAPR.xls

[lra]

So 30.6% , the spreadsheet now totals more than £9000 thanks Ims. Spreadsheet and letter now ready to be posted tomorrow

[ims21]

If you intend to go through court you realise that £9k is over the current small claims limit which has potential costs implications should you lose?

[lra]

No I didn't know that, what do you recommend me to do? I know i'm unlikely to get the contractual interest but if I go in low they will offer much lower like they did with studio

[lra]

Should I just claim the charges within 6 years at contractual interest

[MrHat]

If you want to avoid the risk of costs, try and either use a lower interest rate of just claim back enough charges to make the trial claimed less than the limit