Capital one late payment....

*Sparkle*_3

Thanks!

I would love to set up a standing order but i can never gaurantee when i will have money in my account and i dont want to get charges from my bank if it bounces, at one point i had over 20 DD and standing orders on my account it was ok for a while but got too much, so now i have only a few and the rest i make via internet banking.

I think the main prob with capital one is that they have no paying in faciltities themselves and it takes 5 working to clear!

heppy23

*Sparkle* wrote:

Thanks!

I would love to set up a standing order but i can never gaurantee when i will have money in my account and i dont want to get charges from my bank if it bounces, at one point i had over 20 DD and standing orders on my account it was ok for a while but got too much, so now i have only a few and the rest i make via internet banking.

I think the main prob with capital one is that they have no paying in faciltities themselves and it takes 5 working to clear!

I get paid weekly so I can manage. I know what you mean about the number of DD's. Can be hard to keep track of.

Capital one isn't the best credit card but at the end of the day they give credit cards to a lot of folk that can't get them anywhere else so I suppose they make a bit of money with the 5 working day thing.

inmypocketnottheirs

These fees for late payments and exceeding credit limits are unlawful. They are applied by credit card companies left, right and centre, yet when they are challenged they will refund them.

Simply when you open the account you agree that these charges will be applied if you breach the terms and conditions of the contract. The charges do not represent the actual work involved in monitoring your account, and neither are they are pre-estimate of any loss or cost to the bank - they are merely a lucrative money making scheme. These charges are therefore punitive charges, applied 'ad terorem' by the credit card companies to discourage late payments or excess balances. Now, under UK law, punitive fines are not enforceable; say for example if you had £500 balance on the card which was solely made up of these charges, and you refused to pay the balance, a court would not enter judgement in favour of the card co.

In essence, you will get these charges back. It is just how you go about asking for them. It requires a change of mindset and time to take control and show these bullies who is in charge.

Any doubters, of which there are many, can take a look at https://www.bankchargeshell.co.uk where all this is explained a lot better than I can, and at https://www.bankactiongroup.com

As you can see from my signature below I have had over £1300 back from the Co-op in respect of similar charges. All letters are available on the above detailed sites.

I would encourage any one who is similarly affected, regardless of the amount, to challenge these charges and put the banks and credit card companies in their place.

:beer:

pink_fairy_5

Hi Sparkle - ive recentely sent a letter to capital one requesting the charges back. same thing Over Limit and Late Payment charge, the overlimit was because they authorised a £10 payment when it turns out there was only £8 available, my argument was they should have declined the payment. was requesting 3 £20 charges back. So far no reply - sent about ten days ago, but when i checked my balance they have refunded 1 of the charges. Not at all happy with that so will be clsoing my account asap.

pink_fairy_5

also when i originally phoned they were adamant they werent refunding me so wrote in to them, i dont find them at all helpful on the phone.
Rather than write to their normal address i asked for the name and address of a director, they werent willing to give me this but i did get this

Lee Powell
Directors Operations
Executive Office
ERC Department
Capital One (Europe)Plc
PO Box 5281
Nottingham
NG2 3HX

Hope that helps