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MBNA Charges over 6 years & Compound Int RECLAIM

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Hi all



Been reading up on Shelleys and Martin2006 threads ( which are very good indeed ) and looking in doing the following credit card charges reclaim.


MBNA card - Defaulted around 2007 - cannot check accurate date as dropped of CRA and NO DN in SAR.



—————————Credit Card Charges reclaim——————————————



Total Charges = £521



Total Compound Interest @ 24.90% = £10.699.22



Total Claim = £11220.22 ( which is WHOPPING ! )



Outstanding Balance with DCA £4500



—————— DCA—————————


MBNA card taken out 2003.



They then SOLD the debt of £4500 to DCA in 2011




As this is over £10,000 - my understanding it is eligible for fast track, but with me having to pay both sides if I lost ? I just cannot afford that.


Any thoughts / ideas on the best way to play this ?


Thanks as always.

Edited by yodabug

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Thanks Andy, nice one.


I was thinking that - - just use a different interest rate.


I Will get cracking then , I reckon.

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Hi All


Thanks for the help so far.


here is my prelim and SOC.




MBNA Limited

P.O. Box 1004

Chester Business Park

Wrexham Road




21st February 2019



Dear Sir/Madam,


MBNA Credit Card : xxxxxxxxx


I now understand that the regime of fees which you have been applying to my account in relation to late fees and over limit charges, are unlawful at Common Law, Statute and recent Consumer regulations.


I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.


I calculate that you have taken £523.00 in charges and I also claim restitutionary interest of £8339.98, making a total of £8862.98.


It may be that you feel a claim for charges going back further than six years is invalid because of your company policy or some mis-interpretation of regulations. Either way I would draw your attention to s32 (1)© Limitations Act 1980 under which this claim is being made so far as it concerns time limits


I enclose a Schedule of Charges listing the amounts that I require to be repaid.


I require repayment in full of this money. If you do not comply fully within 14 days, I shall begin a claim against you for the full amount plus interest, plus my costs, without further notice.


Yours faithfully,




I have omitted the sentences, ' I require that you remove the adverse payment history entry from the register ' etc. As this has long gone from credit file etc.


Is it worth inserting the red chapter highlighted in red / or save it for later down the line ?? - got that from an old shelley / ims21 thread.

MBNACreditCardCISheet2 v101 (1).xls.pdf

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i not sure that m about 4 weeks ahead of you with exactly the same letter and i suspect you will get the same bog off reply....


ive been a bit busy but will need to begin y MCOL action...

I need to check how you calculate charges .. i assume you are using restitutional interes rate but thought it was more 29.9%

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Hi Zubo thanks for replying - must of missed your email.  I’m coming back to this one and I’m starting with an egg card as it’s barclaycard - who I understand are a bit forthcoming but yes will do them both through mcol - good luck with your claim will follow your progression 

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