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Dizzy Doris v Capital One


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I have just recd my statements from Capital One and fees add up to just over £300. Before I do my Prelim ltr, just wondering if its worth going for contractual interest too ? On checking thru the successes a number of them have been successful. I was really lucky with RBOS - they paid out 95% settlement £6500 just as the 2nd lba crossed in post. I have a feeling Capital One wont be so quick but would welcome any feedback. Thanks x

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Hi Doris

 

I am at the same stage with Cap One. I have totalled my charges up and used one of Vamp's spreadsheets to calculate contractual interest.

 

Prelim off tomorrow.

 

Will keep you posted.

 

Good luck

 

FC

Barclaycard: SETTLED AFTER LBA

Barclays 1: AT COURT

Barclays 2: WITH FOS

Capital One: SETTLED AFTER N1

Egg: SETTLED AFTER LBA

HFC: S.A.R - (Subject Access Request)

Lloyds TSB: S.A.R - (Subject Access Request) - WITH Information Commissioners Office

RBS: AT COURT

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  • 2 weeks later...

Thanks FC, will try and find that one as going through the statements tonight. What rate of CI did u use ? I have seen all different rates on different threads, the most popular seems to be their rate on cash advances.

 

Good luck on your claim !

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Thanks FC, will try and find that one as going through the statements tonight. What rate of CI did u use ? I have seen all different rates on different threads, the most popular seems to be their rate on cash advances.

 

Good luck on your claim !

 

DD

You should perhaps be asking for whatever rate you paid on your charges. Have you worked it out yet? Mine worked out at 30% which I arrived at by taking the Purchase Interest rates on my statements (3 varying rates over 3 years) and using the average rate after typing them into the interest calculator in Mindzai's spreadsheet (and also double checking on another interest calculator).

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Thanks Paintball, I will try that. I have been having probs finding the right spreadsheet to use as there seem to be quite a few about. In the library I found one but it uses 8% - so once i have worked out how to change that % I should be ok.

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  • 1 month later...

Its been a while and I have eventually got back to my claiming paperwork having gotten completely confused and given up. I have checked my statements and have two rates of interest. Cash withdrawals rates of 2.528% and 2.207% per month and purchase interest rates are the same. What i can't work out is how come my rate is 2.xxx and other people are claiming 30% according to their threads. Should I by multiplying by 12 to get an annual rate ? Also, I am having a job finding the spreadsheet to list all the charges in. I found one that was on google but was too complicated for a single brain celled female like me to work out. I managed the bank on ok but its the credit card ones with all the interest that is foxing me - sorry to be so dozy !

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Now you have your charges, you need to list them in a spreadsheet. If you are asking for Contractual Interest, then this should be asked for from the start. If your not asking for APR then just list the charges, date, amount, reason, and days passed, then ask for them back.

 

To work out your APR, on your monthly statement you should have below the transaction box, your current Purchase interest and cash advance interest. It will be some thing like:

 

Purchase Interest 1.897%

Cash Interest 1.976%

 

Add these 2 figures together and divide by 2 to get an average, then type it into this calculator found here:

 

http://www.zen122856.zen.co.uk/CompoundSheet_v1.9.xls

 

Do not use the spreadsheet on here, as it's for bank charges only. The calculator is very accurate. If you don't have your APR or % figures, call them asking what it currently is.

 

When you have your APR, type this into your spreadsheet on each charge. It is not uncommen for people to have an APR of 34%...

 

Hope this helps

 

Ukaviator

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Thank v much ! Have managed to get an APR of 34.96% ! The spreadsheet I have used previously has the 8% column in but I cant find a spreadsheet where I can add in the APR figure. Its probably possible to change the formula but im not confident at excel so if anyone is good with formula give it a go.

Formula at present is =(C9*0.00022)*E9

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If you go to vamps chambers, it's spreadsheet 13 i think. Just change the APR figure there.

 

Uk

WARNING TO ALL

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  • 1 month later...

Prelim letter issued on 31st July and have had reply back dated 8th August saying thanks for your letter bla bla bla, terms & conditions bla bla bla, reduced fees to £12 bla bla bla, will refund £72 on a £600+ claim !!

 

Do I send them the thanks for that partial payment, waiting for the rest letter ? I have seen those letters for the banks but not sure if its different on the creidit card side.

 

Any advice gratefully received !

 

Thanx

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Hi. . Yes send them the letter in the bank templates library. You could make this into an Lba as well to save time. The offer you have had is a standard reply, so follow the procedure to the next stage now.

 

Uk

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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  • 2 weeks later...
  • 3 weeks later...

Recd a letter today from C One, saying basically thats it £72 was final offer and they are not increasing it. "Financial regulations require me to advise you that this is my final offer in relation to this matter. However, you now have the option to contact the Financial Obudsman Service within six months from the date of this letter."

 

Not sure if this is a standard reply or not - Whats the next step - is it 14 days then court process / MCOL ?

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It maybe worth a try using the Ombudsman, as we are seeing Credit Card cases being Stayed by the courts. This is'nt happening all over the country, Credit card charges are being classed as bank charges in some areas. The terms are different, but mistakes by judges and court staff,are being made.

WARNING TO ALL

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Hi Dizzy Doris

 

There is a complaint form here on their website.

 

our complaints procedure and how to complain

 

Just fill it in with all copies of the correspondance you have. You must have the letter, stating that this is Capital Ones final answer on your case before the Ombudsman will proceed.

 

Don't do anything with the court, as you are getting the Ombudsman to go through your claim. Make sure you do put "THIS IS A CREDIT CARD CLAIM, NOT BANK CHARGES" on the initial complaint letter, as the Ombudsman won't investigate bank charges at the moment.

 

Hope this helps

 

Uk

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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Thats fantastic - thanks for the link. Will do that on Monday and see what happens. I think Cap 1 are awful and its about time they sat up and took notice of their customers - hasn't anybody told them "The customer is ALWAYS right !" Hee hee hee

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I haven't started yet. Off on hols on Weds night so will try tonight if I can get the packing done. I couldnt access this site whilst at work yesterday but did look on Moneysaving expert and there is some info on there also about going to the ombudsman which is quite useful and explains it in easy terms. Looks like it takes a bit longer but there is info on how to complete the complaint form too. Not sure how accurate that detail is but it looks ok to me.

Bank Charges: Reclaim them, they're unlawful. STOP PRESS! Major OFT / Bank announcement....

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