Experian Credit Expert

flip01

I let my 30 day free trial period run out without cancelling, and there goes £60 from my credit card. i am trying to work out how much I would be refunded under the pro rata thing, but i cant seem to work it out, can someone help me?

For simplicity's sake, take it for granted that i will be cancelling after two months of being a member (thats one free month plus one paid month)

If anyone that can tell me how much I would be refunded I would be grateful!

here are the details of the pro rata refund

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Cancellation after the end of the Trial Period but before the 91st day of the first Year : unless we agree with you otherwise we will subtract from the Fee the proportion of the Fee calculated as the number of whole days remaining of the 90 day refund period which operates for the first 90 days of the first Year in accordance with the following calculation :

Fee minus ((N/360) multiplied by the Fee) = £ refund amount

Where N = the number of whole days since the start of the first year up to the Notice Date and 360 is the number of days for a complete year which for the purposes of calculating a refund is 12 x 30 days

For example if you successfully registered on 1st August 2003 we will charge the fee to the payment card on 1st September 2003. If you cancel on 10th October 2003 40 days will have passed since 1st August 2003. The refund will therefore be calculated as

Fee minus 40/360 x Fee = £ refund amount

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King_David_2

Oops, when the paper one costs around £2.

I only got a B at GCSE Maths so that is well beyond me!

Robert_Sterling_3

I may be a bit thick too but if it were me I would miss out the middle man and ask Experian.

flip01

Yeah It only costs £2 for the paper version, but the enticement of FREE use for CreditExpert was good, but not if you dont cancel after 30 days.

I have asked experian the same question, how much would I get back of my £59.99 if I cancelled after two months use, but that was about 10 days ago and as yet i have had no reply. So Im kinda hoping some whizz maths type buddy can come up with the goods?

Thanking you in anticipation

Maddie

Not sure if i've got this right, but if the 'Fee'= £60

and the number of days =60 (two months)

then its

60 - (60/360 * 60) = 50

so the refund would be £50

this sounds quite high, so chances are ive misunderstood.

dthyer

As the first month is free, then I think the refund will be £55 (£60-((30/360)*£60)).

So basically it reduces proprtionally by £5 per month, but from the text you've posted, it looks like this is only valid for the first 90 days, so best to do it sooner rather than later.

I hope this helps,

DT

flip01

Thanks for the replies!

The first month is chargeable if you decide to stay (or forget to cancel)

You would think they tried to make it difficult to understand or something ....