Dispute over credit card interest charges

Floyd3592

Hi newby poster here so please be gentle!

I am currently in dispute with my card provider Amex. It stems from an interest charge that i thought was excessive and I paid what I thought was the correct amount. They have continued to charge interest on their interest and I have stopped using the card and told them that I want to cancel the card. They continue to keep charging me late payment charges and interest charges however each month.

My question is should I pay up just to get them off my back and then claim the charges back or is there any way that I can force them to stop levying these charges and await for them to try and get what they think I owe them through legal means?

The 2nd option is what I want to do as I hate giving them money that I don't think they're entitled to but I don't want the amount I "owe" to become higher and higher!

Any advice gratefully received!

sandravan

Capital one has now got a company to collect and they are harrassing me and this after two years. I paid of the balance, cut up the credit card sent it back to them, since then moved house, and now after 2 years they have surfaced, they have claimed charges and interest since 2007 after I paid and no longer use the card. I am at whits end what to do and am desperate for some advise.......I am not even claiming charges back which amounts to £806.......

Floyd3592 wrote: »

Hi newby poster here so please be gentle!

I am currently in dispute with my card provider Amex. It stems from an interest charge that i thought was excessive and I paid what I thought was the correct amount. They have continued to charge interest on their interest and I have stopped using the card and told them that I want to cancel the card. They continue to keep charging me late payment charges and interest charges however each month.

My question is should I pay up just to get them off my back and then claim the charges back or is there any way that I can force them to stop levying these charges and await for them to try and get what they think I owe them through legal means?

The 2nd option is what I want to do as I hate giving them money that I don't think they're entitled to but I don't want the amount I "owe" to become higher and higher!

Any advice gratefully received!

natweststaffmember

Floyd3592 wrote: »

Hi newby poster here so please be gentle!

I am currently in dispute with my card provider Amex. It stems from an interest charge that i thought was excessive and I paid what I thought was the correct amount. They have continued to charge interest on their interest and I have stopped using the card and told them that I want to cancel the card. They continue to keep charging me late payment charges and interest charges however each month.

My question is should I pay up just to get them off my back and then claim the charges back or is there any way that I can force them to stop levying these charges and await for them to try and get what they think I owe them through legal means?

The 2nd option is what I want to do as I hate giving them money that I don't think they're entitled to but I don't want the amount I "owe" to become higher and higher!

Any advice gratefully received!

Just to answer the interest part of the question, the credit card provider is allowed to charge interest at the rate on the card and so unless you have got a better argument than "i will pay what i think is fair" then you stand no chance. However the charges are reclaimable £12 ones. Is there a reason you felt that you were overcharged in interest the first time?

natweststaffmember

sandravan wrote: »

Capital one has now got a company to collect and they are harrassing me and this after two years. I paid of the balance, cut up the credit card sent it back to them, since then moved house, and now after 2 years they have surfaced, they have claimed charges and interest since 2007 after I paid and no longer use the card. I am at whits end what to do and am desperate for some advise.......I am not even claiming charges back which amounts to £806.......

I think you need a SAR to get your data to find out what caused the payment not to made as well as calculating the charges you will reclaim if they do not write the amount off. Do you have your bank statements from when you paid it off as well?

Floyd3592

natweststaffmember wrote: »

Just to answer the interest part of the question, the credit card provider is allowed to charge interest at the rate on the card and so unless you have got a better argument than "i will pay what i think is fair" then you stand no chance. However the charges are reclaimable £12 ones. Is there a reason you felt that you were overcharged in interest the first time?

The dispute stems from when I had a balance owing of 3,700 I paid off 3000 before the due date but because I hadn't paid off the whole balance interest on the whole 3700 was levied. The wording in my agreement is that any monies owed when the due date for payment occurs will attract interest. As I had paid off 3000 before the due date I only owed 700 and that is the amount that I consider interest was due on.
Is it better to pay off the whole monies owed now and claim it back or should I dig in and let these charges accrue and increase each month and wait for them to get the money they think I owe through their own legal means?

natweststaffmember

Floyd3592 wrote: »

The dispute stems from when I had a balance owing of 3,700 I paid off 3000 before the due date but because I hadn't paid off the whole balance interest on the whole 3700 was levied. The wording in my agreement is that any monies owed when the due date for payment occurs will attract interest. As I had paid off 3000 before the due date I only owed 700 and that is the amount that I consider interest was due on.
Is it better to pay off the whole monies owed now and claim it back or should I dig in and let these charges accrue and increase each month and wait for them to get the money they think I owe through their own legal means?

The more the money is owed the more interest and charges accrue. Personally I would be getting a SAR from them suing them for overlimit/non payment charges.

Floyd3592

natweststaffmember wrote: »

The more the money is owed the more interest and charges accrue. Personally I would be getting a SAR from them suing them for overlimit/non payment charges.

What's a SAR?

gnaril

""The dispute stems from when I had a balance owing of 3,700 I paid off 3000 before the due date but because I hadn't paid off the whole balance interest on the whole 3700 was levied. The wording in my agreement is that any monies owed when the due date for payment occurs will attract interest. As I had paid off 3000 before the due date I only owed 700 and that is the amount that I consider interest was due on.
Is it better to pay off the whole monies owed now and claim it back or should I dig in and let these charges accrue and increase each month and wait for them to get the money they think I owe through their own legal means?""

Your wrong the banks right unfortunately
If you do not pay the full balance every month you waive your right to your intrest free period intrest will be charged on the complete balance from last stmnt date, up until any pymnt recieved then on the reduced balance, The following month you will have int charged on the reduced balance and the intrest you accrued the prev month.

Personally when i have seen these issues it isnt really a problem to just reimburse it unless your on an insane apr intrest intially was what £50-£60 initially?( just went for a middle of the road 15.9 APR.)

I would consider paying it whilst its ongoing. instead of trashing your credit file further, as you can be sure every month you leave it you will have lovely 1 1 1 1 on your credit file updated by your bank and they "generally" will only update if its a bank error which this isnt. Due to credit file being factual report of how the account is maintained.

Ok thats my old Credit card hat off, i hope you get it sorted but really probably just depends on who you talk to you might get someone nice like i used to be :P