Beneficial finance Credit Card Quick Question

dippynina

My partner had been trying to claim charges back from Beneficial Finance Credit Card. These totaled £413.00 (without interest) He has received a letter this morning offering £148.79 as a goodwill gesture. I am really unsure what to do, should we hold off and go through FOS and then is there a good chance we could end up with nothing? To be honest even though its not much we could be doing with it at the moment.

How good are my chances in a successful claim through FOS and how have other people got on with Beneficial?

Ok thats more than one question but any advice greatly appreciated.

Thanks

Premier_2

I would suggest you read the MSE article on reclaiming credit card charges.

http://www.moneysavingexpert.com/reclaim/credit-card-charges

There it suggests only 'a lucky few' will get all their charges back in full and then it'll probably be for those in financial hardship and only asking for the difference back between the original charge and the £12.

You'll probably get some people suggesting you hold out for the full amount, but it's not their £148.79 they are refusing (and even it it was, such money would probably mean something different to them)

You need to consider carefully for yourself whether to accept the money offered, or gamble it in the hope of getting more.
To paraphrase the MSE article:

Of the £413.00 of charges and are offered £148.79; the first thing is try not to think “I’m £264.21 short” but instead that you’ve got £148.79 you thought was gone forever. The ultimate decision is yours. It’s a combination of whether you want the hassle of continuing versus the ‘certainty of the cash’.

orc_2

Well, I am going to offer different advice, and my opinion is based on the fact The Office of Fair Trading has stated that a £12 CC charge was not to be regarded as fair. Nothing since has altered that.

Only a court can now decide that and the CC companies settle for full amount way before court. It is also common knowledge, based on claimants feedback that CC companies have a "staggered settlement" policy hoping that you will settle for the least amount.

So I would go for full amount plus 8% interest. Whatever you do, never go near a CMC. Keep to doing it yourself.

You will get the full amount at FOS, if you have to go there, which I doubt as it should be settled before that.

However, it is your decision and if you are happy with the current offer then accept it if it means that you can resolve certain financial issues just now, rather than waiting.

natweststaffmember

Just to add to the excellent advice that Orc has given. If the MSE guide is talking about financial hardship and reclaiming credit cards then that is completely rubbish since that has never been part of credit card reclaiming. If they talk about "lucky ones" then I think I had better take a look at their guide and email site team cos that is another nonsense.
Thanks Premier for posting it otherwise I would never spot rubbish within guides on MSE

dippynina

Thanks everyone for the advice. Initially I was going to accept their goodwill payment but after reading further posts I have decided to decline their offer. I have just written a second letter asking them to reconsider. Fingers crossed!! Thanks again.

orc_2

Good luck. Please keep us posted.

CC and PPI claims are straightforward and entirely unaffected by the bank charges SC decision.

If you need further advise, just ask.