Returned Item + Ended Credit Card

lee__48

I had a Monument credit card (very bad rate but great introductory offer). I ended the agreement and later retuned an item to a store. As I had purchased the item with my Monument credit card it was credited to the Monument card. As I no longer have the card I can't spend against the refund or perform a balance transfer so I phoned Monument and they said they would send a cheque out for me. A week later I phoned again, and again and again (get the idea?) each time being told a cheque was on the way. It seemed I was getting nowhere on the phone so I sent a letter using their prepaid envelope - obviously no reply and no cheque. I am now preparing a letter which I will send recorded delivery. What should I threaten Monument with? I see it only fair Monument compensate me for lost interest - shall I base this on my savings account (~5%) or their borrowing rate (~25%)?

Thanks in advance,

Lee

Walletwatch

I think it has to be the 5% and not the 25%, as that represents your loss in the scenario you had got the refund in time and you had deposited it into a savings account.

You are no longer a customer, so Monument have no incentive to offer you anything more than that either...

thefirs

Don't forget to add the the same "administration fee" that they would have charged you in case of late payment. ;D