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Returned Item + Ended Credit Card
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lee__48
Posts: 68 Forumite
in Credit cards
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
Thanks in advance,
Lee
0
Comments
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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...It's always the grass that suffers, irrespective of whether the elephants are fighting or making love !!!0 -
Don't forget to add the the same "administration fee" that they would have charged you in case of late payment. ;D0
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