Can You Re Claim Credit Card Late Fees?

greendale9061

Good Afternoon,

I don't know if this is in the right Forum, sorry if its isnt.

I have just started my process of claiming back my bank charges and was wondering if you can the same for credit cards? Last Decemeber I got into a bit of a bother with Natwest and kept forgetting to pay on time and therefore was charged at least 6 late fees before I finally settled mt balance. As they charge you £20 a time, I could possibly be reclaiming £120. Would be great if any one had any advise or help. Can I use the same letter template as the bank charges & still pay £10? If I am entillied to the money Im gonna treat myself to a nice party frock in the sales for my neighbours wedding in summer :-)


Many Thanks
Kate :-)

tom188

Yes

There is plenty of info on this on the reclaiming bank charges forum. I believe exactly the same process.

Astaroth

The "process" and OFT investigation is actually into credit card charges technically and not bank charges - the OFT has only recently started its investigation into loans and current account charges

thepikingpirate

greendale9061 wrote:

Good Afternoon,

I don't know if this is in the right Forum, sorry if its isnt.

I have just started my process of claiming back my bank charges and was wondering if you can the same for credit cards? Last Decemeber I got into a bit of a bother with Natwest and kept forgetting to pay on time and therefore was charged at least 6 late fees before I finally settled mt balance. As they charge you £20 a time, I could possibly be reclaiming £120. Would be great if any one had any advise or help. Can I use the same letter template as the bank charges & still pay £10? If I am entillied to the money Im gonna treat myself to a nice party frock in the sales for my neighbours wedding in summer :-)


Many Thanks
Kate :-)

The theory between bank and credit Card charges is the same. although they are seperate. You claim either on the basis that they are not the true cost incurred by the Bank/Card and therefore unlawful. Check out Consumeractiongroup.co.uk. Bank Fodder's blog will explain it.

Astaroth

Though the acceptable figure may be different (hence why OFT is spending it millions in reviewing the correct figures for loans and current accounts after already spending god knows how much on credit cards)

greendale9061

Hi,

Thanks for your messages. Does any one know the actual post the credit card reclaim are under? as Ive looked through the bank charge thread & tried to read them all, but there are soo many. Im just after a template. I want to claim, back my late fees, is this classed as unlawful @ £20 a time.


Kate :-)

Astaroth

Under contract law you can only charge costs for breach of contract and not punitive fees - late payment is an example of a breach of contract.

The OFT investigated the costs for credit card companies and came back saying that they felt that the true cost for most credit card companies is £12 or less. A number of lenders instantly came back and said their costs are more than that, OFT said they stood by their research but that as with all research they do it is a guide and not "the law" and therefore a card company would be free to charge more if they could demonstrate in court that their costs are more.