Son v Capital One

[Dispirited]

My son is going to try to claim charges from Capital One. Think he's had his card for about 3 years. Could anybody advise if this letter is acceptable?

Cheers.

 

Dear Sir

 

I am writing to request a fully comprehensive list of all the default charges that have been added to my account since its inception.

 

Please find enclosed a postal order for the maximum statutory charge of £10. If you are unable to provide this data, I will accept a copy of all my statements.

 

--------------------

[steven4064]

You would be better off sending a SAR from the templates library

[Dispirited]

Hi, It started off as one but I kept editing it as it didn't seem to fit. Back to the original then, thank you.

[steven4064]

There's no problem with editing it but you need to make clear it is a subject access request under section 7 of the Data Protection Act 1998. You also want all information they hold (not just 6 years' statements - although statements will give you the information on charges) including evidence of any manual interventions on the account.

[Dispirited]

Statements have arrived, so now have to work out the charges. But I need some advice please -

 

Can son reclaim PPI?

 

They stipulated a credit limit but every month allowed him to go over it, consequently there are charges. And every month along with those charges there are 2 lots of interest added, same date, different amounts.

 

e.g.

13/12/02 LATE PAYMENT FEE £20.00

14/12/02 PPI £ 1.55

17/12/02 INTEREST (APPLIED) £ 1.59

17/12/02 INTEREST (APPLIED) £ 2.74

 

 

Can all be reclaimed?

[Dispirited]

Help please, any Cap1 experts reading this??

 

Could somebody please talk me through in baby steps?? I've read up on the PPI and will be claiming that back. Tried Vamps' chambers for spreadsheets but all links are broken, eventually found one in the library but have not a clue how to fill it in or what interest to reclaim.

 

I've gone through the statements and now have a total of all the charges, do I list them seperately on the spreadsheet?

 

Thanks for any advice.

[Doz]

Hi Dispirited. I am no expert on PPI as i have never claimed it but as for th charges you can claim:

 

Overlimit Fee

Late Payment Fee

 

Late Payment Fee

I've gone through the statements and now have a total of all the charges, do I list them seperately on the spreadsheet?

 

 

Yes. List them individualy with Date Charged, Name of Charge and ammount. Dont include 8% yet untill you file at court.

 

Hope this helps you.

[ukaviator]

Hi

 

You can claim back the Overlimit fees and Late payment 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 to get an average and divide by 2, then type it into this calculator found here:

 

http://www.shweb.pwp.blueyonder. co...Sheet_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

[Dispirited]

Hi Dispirited. I am no expert on PPI as i have never claimed it but as for th charges you can claim:

 

Overlimit Fee

Late Payment Fee

 

 

 

Yes. List them individualy with Date Charged, Name of Charge and ammount. Dont include 8% yet untill you file at court.

 

Hope this helps you.

 

Thank you Doz.

[Dispirited]

Hi Ukaviator

 

Their APR was something like 29+% until last year I think, then it increased to 34+%.

 

Monthly transactions on statement read like this:

13/12/02 LATE PAYMENT FEE £20.00

14/12/02 PPI £ 1.55

17/12/02 INTEREST (APPLIED) £ 1.59

17/12/02 INTEREST (APPLIED) £ 2.74

 

 

Do I add both Interests together and divide by 2?

 

--

 

 

I've downloaded this spreadsheet: http://www.consumeractiongroup.co.uk/Spreadsheets/England/Simple-charges-calc.xls

 

Do I have to enter all the cleared transactions?

 

And what about - 'Days since offence' ?

Does that stay in?

 

---------------

 

Thanks for your help, please stay with me because the penny's not dropping yet.

[Dispirited]

Could anybody help please?

[ukaviator]

Hi

 

http://www.shweb.pwp.blueyonder.co.uk/CompoundSheet_v1.9.xls

 

That looks like the simple charges spreadsheet, you need the compounded one. There are some links below where you can find the spreadsheets.

 

You do add the two rates together and divide by 2 for the average. Put the number you get into the small calculator found in the link above. This will give you the APR. You then add this to each charge in turn on the spreadsheet.

 

I will be back hopefully with a link for another spreadsheet if i can find it.

 

Try here: http://www.shweb.pwp.blueyonder.co.uk/interestcalcs.xls

 

It's Steven4064 spreadsheet he uses.

 

Uk

[Dispirited]

Hi UK

 

How about this one?

 

http://www.consumeractiongroup.co.uk/Spreadsheets/England/Complex-credit-card-charges-calc.xls

[ukaviator]

I just get a front page, have you tried the one in the link above?

[Dispirited]

Hi,

 

It's the Credit Card one from this site:

http://www.consumeractiongroup.co.uk/forum/general/6964-spreadsheet-interest.html

I've downloaded the one from your link now and it looks more user-friendly. Sorry, was getting confused, I thought you said in an earlier post not to use it because it's for bank charges only?

[ukaviator]

The one with the Calculator is for bank charges only. .the Version 1.9 one.

 

The calculator with it is just for your APR calculation. Glad you're getting through it ok.

 

Uk

[Dispirited]

Hi UK, I'm ready for my next lesson now as I haven't got a bliddy clue!

 

Okay, in baby steps......open spreadsheet..... the Complex one....done. Now

sits back and blinks. Ooo-errr.

[ukaviator]

Ok. . .at the bottom of the page after you type in the details when the first page opens up, you should see 3 panela at the bottom. Click the 8% interest one, this opens up the spreadsheet. Top right change the interest rate in the box to your APR figure. You will need to put the decimal point in. You should see the sample charges there change amounts as you hit the enter button. Now start filling in the spreadsheet with the dates, reasons, amounts etc.

 

Uk

[Dispirited]

Ahhhhh, by jove I think I've got it (for now). Thank you UK, much appreciated. Just 2 mini queries:

 

There are 2 columns on the page named -

'8% on Penalties' and '8% on Interest on these Penalties'

 

What should I change them to?

 

 

Also, the APR is 34.9% but the box is changing it to 35%, is this right?

[Curlyben]

Subbing 'cos I can

[Dispirited]

Yep, you sure can

[ukaviator]

Yes that's ok . .it rounded up the APR.

 

Just checking the spreadsheet now, the right hand column is adding interest onto interest for those penalties at 8% by the looks of it. If you delete the interest on each charge in turn it adjusts the total. The first column is adding the 35% to the charge when you input the amounts on the left. In the box in the 2nd column, change the 8% to 35%. The spreadsheet formula is doing the rest.

 

Remember you can't claim 8% and Contractual, it's one or the other, so delete the 2 right hand columns is how i see it.

 

Uk

[Dispirited]

Great, thanks for that Uk.

[Dispirited]

Hi,

 

I'd like to reclaim the PPI on this as well. Do I continue using the same APR?

[ukaviator]

You can but i think the purchase interest rate is the APR they use for PPI.

If you are having trouble with the spreadsheet, PM me with an e mail address and i can send you another which may be easier to use.

 

Uk