Bank interest v original debt

[RUEHENRIRENE]

This may have been covered elsewhere. If so I apologise.

 

A well known high street bank has charged me nearly £3,500 interest over the past few years on a credit card at rates of up to 29.9% APR. Firstly, I thought this rate was reserved for the store card thieves. Secondly, The high street bank has defaulted me on a credit card debt of approximately £2,800.

 

I contacted the collection agent appointed by the bank (oops the bank's internal collection agent!) to say that the only reason for the current balance on the account was because of the unreasonable interest charges. So as not to paint an unfair position I will admit that I sent a rather cheeky response to suggest that the whole £3,500 interest should be waived. This was designed to initiate some kind of dialogue (rightly or wrongly) where a compromise could be agreed.

 

Here is a precis of the collection agent's response:

 

"As you are aware, the test case has now concluded with the Supreme Court ruling in favour of the Banks. (The Bank) will not be refunding the charges."

 

Maybe I'm wrong but I thought that the 'test case' concerned bank charges such as overdraft fees, unpaid transaction fees, etc. I am not sure it extended to interest charges.

 

Any thoughts?

[dx100uk]

interest is not a charge

 

£12 PENALTY fees are...

 

dx