Capital One - low goodwill offer

mojo-jojo_2

Hi,
I hope someone can point me in the right direction for my next step....

Sent a claim to Cap One for £338 plus £116 interest for charges going back to 2002.

First response from them was along the lines of....the OFT hasn't challenged our right to charge default sums, just the level of these which we reduced to £12, so we are offering the difference between the £20 charged and the £12. Goodwill offer of £120 plus £10 interest.

I replied with a 'thanks but no thanks, I want the whole amount claimed' ( added that I would accept £400 without prejudice to settle the matter quickly).

Received another response, saying that the OFT hasn't told them that they are obliged to refund default sums and that they have offered their (rather small) amount as a gesture of goodwill. The £130 offer is still available and they want me to accept this 'so we can put this behind us and save the court's valuable time'

I still want to pursue the whole amount, so what now? FOS or MCOL?? I have never lodged an MCOL before and wouldn't have a clue where to start. Also do I send them one last letter giving them the opportunity to pay the whole amount or I will lodge a claim within 14 days?

Any advice would be appreciated,

thanks Jo

DaisyDaisy82

Capital One have done exactly the same to me. They are the only ones being difficult.

I asked for £240.00 and they offered £80.00 and when I threatened court action they replied with a tough we're not budging letter.

I'm going to try the FOS and only use court as a last resort.

I dont know how anyone else has got on but I will keep you updated

mojo-jojo_2

Hi there Daisy,
Capital One are the only ones being a pain for me too (although they did reply quickly with their offer). Every other credit card has refunded the whole amount claimed (or thereabouts) after the first letter.

I had read on here other peoples accounts of their dealings with Cap One, but I can't locate the threads at the mo.

Good luck with your claim, do you have others on the go too?

I have now decided (rightly or wrongly) to send one last (albeit short and to the point) letter. Basically acknowledging their most recent letter, but stating as it is not a satisfactory response (not an offer of full refund) that I will give them 14 days to refund the whole amount or I will lodge my claim with the courts and the courts can decide what constitutes a fair and reasonable default charge amount. I quoted back to them that I also had wanted to avoid wasting the court's valuable time, but they have left me no alternative.

Will update with response (if any)

Jo

ccmug

mojo-jojo wrote: »

Hi there Daisy,
Capital One are the only ones being a pain for me too (although they did reply quickly with their offer). Every other credit card has refunded the whole amount claimed (or thereabouts) after the first letter.

I had read on here other peoples accounts of their dealings with Cap One, but I can't locate the threads at the mo.

If you go to the Main Bank Threads from the Reclaiming Main page you will find the Cap One thread

Good luck with your claim, do you have others on the go too?

I have now decided (rightly or wrongly) to send one last (albeit short and to the point) letter. Basically acknowledging their most recent letter, but stating as it is not a satisfactory response (not an offer of full refund) that I will give them 14 days to refund the whole amount or I will lodge my claim with the courts and the courts can decide what constitutes a fair and reasonable default charge amount. I quoted back to them that I also had wanted to avoid wasting the court's valuable time, but they have left me no alternative.

Will update with response (if any)

Jo

I have had the same with Cap One so i'm doing an MCOL on them. I have a similar problem with Egg and did write them a third letter pointing out that if the hadn't mis-charged PPI premiums, which have now been refunded, I would never have gone over-limit but to no avail so its MCOL for them too.

Still waiting for replies to second letters from MBNA and Amex but had full success with Mint, Natwest, Barclaycard and Lloyds. Mint even paid up after I had settled the debt with a 55% discount

You can do your MCOL in several stages - it saves everything you have done and won't actually execute anything until you have paid. I feel it is a better route than FOS which I hear is slow and often coming down in favour of the card company regarding the £12 charge

DaisyDaisy82

From the stories i've read it would appear that FOS are limiting the interest they are asking the banks to pay out. I am happy with just getting the charges back if I can.

Plus its free so theres nothing to lose.

Good luck with the final letter mojo-jojo. The last letter I had from Capital One said it was their final response and they weren't going to offer any more than £80

jos004

ccmug wrote: »

I have had the same with Cap One so i'm doing an MCOL on them. I have a similar problem with Egg and did write them a third letter pointing out that if the hadn't mis-charged PPI premiums, which have now been refunded, I would never have gone over-limit but to no avail so its MCOL for them too.

Still waiting for replies to second letters from MBNA and Amex but had full success with Mint, Natwest, Barclaycard and Lloyds. Mint even paid up after I had settled the debt with a 55% discount

You can do your MCOL in several stages - it saves everything you have done and won't actually execute anything until you have paid. I feel it is a better route than FOS which I hear is slow and often coming down in favour of the card company regarding the £12 charge

Filed an MCOL against Cap One on 29/7/09. Acknowledge by them 05/08/09. I believe they settle out of court, two days or so, before court hearing.

Said they are going to defend, but I'm ready and waiting for them.

HopeAndDriftWood

Capital One have claimed bank charges from me, also, which I don't believe to be fair.

Is there a template letter I could send, and try my luck?

Thanks everyone

natweststaffmember

SaucySecrets wrote: »

Capital One have claimed bank charges from me, also, which I don't believe to be fair.

Is there a template letter I could send, and try my luck?

Thanks everyone

http://www.moneysavingexpert.com/reclaim/credit-card-charges
The above is the guide to reclaiming

mojo-jojo_2

got a reply from my third letter this morning, basically saying their offer still stands but that because they beleive they added their charges correctly they will not refund any more than the difference between what they charged and the OFT recommended £12.

I will now pursue the MCOL route, but have no idea how to word the claim. Can anyone give me an idea of how they worded it??

thanks in advance

Jo

jos004

mojo-jojo wrote: »

got a reply from my third letter this morning, basically saying their offer still stands but that because they beleive they added their charges correctly they will not refund any more than the difference between what they charged and the OFT recommended £12.

I will now pursue the MCOL route, but have no idea how to word the claim. Can anyone give me an idea of how they worded it??

thanks in advance

Jo

Just PMed you Mojo-jojo.

DaisyDaisy82

Had my acknowledgement from FOS on Saturday saying they have a backlog but will deal with my issues as soon as they are able.

How are you getting on with MCOL Mojo-jojo?