RBS Advanta CC - £0.02 Offer!!! - Should be more but only have 1 statement

MoodyBlue_2

Hi all

I need some help with a claim for an old RBS Advanta credit card...

I think I must have received the lowest offer so far of £0.02 (yes, 2 pence!) :rotfl: consisting of £0.01 payment refund and £0.01 interest.

This covers the period from June 2001 until June 2003 when the account was closed.

The thing is, that after the initial offer, I sent a statement back to them showing a 'Cardholder Protection' PPI payment of £17.43 in August 1998.

RBS have responded this morning saying that they only have records from 2001 and that I would need to send further statements in order for redress to be calculated.

I only have this single statement, could somebody advise how I should respond to RBS please?

Any help greatly appreciated
MB

dunstonh

I think I must have received the lowest offer so far of £0.02 (yes, 2 pence!) consisting of £0.01 payment refund and £0.01 interest.

I once heard about someone who was paid 96p on an endowment complaint payout but then suffered a £1000 bill from a claims company making her £999.04 out of pocket due to the complaint. So, can trump it from other areas but yours is still pretty good.

I only have this single statement, could somebody advise how I should respond to RBS please?

There is no consistency in how these are treated. There have been posts that the FOS have said that without statements from either side then there is no way to decide how much should be repaid and they cannot force a payout. However, some have managed to get their card provider to compromise. and give an average for a period (still not the whole period but a guess for that period). I dont recall seeing RBS taking that approach though.

You can ask them to increase but if you only had 1pence of payment protection paid from 2001, they are not likely to pay you more than the £17.43 for the statement you had (if they look at the two year period they have an average it then its not going to do you any favours)

I think you have to ask them to make a judgement call and if they do then you got lucky and if you dont then you are unlikely to be successful if you pursue it any further.

magpiecottage

dunstonh wrote: »

I once heard about someone who was paid 96p on an endowment complaint payout but then suffered a £1000 bill from a claims company making her £999.04 out of pocket due to the complaint. So, can trump it from other areas but yours is still pretty good.

I think that was an FSCS case. I have seen a number of very low cases - I remember one where the complainant sent the cheque back because it was for hundreds and he thought he should have thousands because it said in the paper that was what they got.

However, the redress depends on the circumstances of the case and if the FSA guidance has been followed correctly in the calculation FOS will not overrule it.

MoodyBlue_2

Hi all

I've had another look and I've managed to find three more statements, from October 1998, May 1999 and the latest from June 1999 (in addition to the first statement from August 1998).

The PPI payments on all three extra statements are around the £25 mark.

Can anybody advise what approach I should take when responding to RBS?

As ever, any help greatly appreciated.

Best regards
MB

amersall

You should send copies of these and ask them to consider these,others have have been paid out with the help of additional statements,good luck.

MoodyBlue_2

Hi all

Just wanted to give a quick update on this one...

After receiving my first offer of 2 pence I managed to find some old statements from 1998/99. I found 5 statements in total, covering an 11 month period and it was clear from the balances on each that the card had been maxed out throughout the period.

Anyway, RBS replied and offered £225, covering the payments for the 5 months only, I argued that it was clear that the payments had been pretty much constant and that they should cover the whole 11 months, which I guessed would be around £400.

They flatly refused, so I went to the FOS... and received a cheque this week (no breakdown, just very basic cover letter saying thanks for accepting (?) and cheque) for over £1300!!! :j

So, just wanted to say a huge thanks to everybody on this forum, without the advice and encouragement from you guys I would have just settled for a framed cheque in the sum of £0.02

Good luck to all, and thanks again
MoodyBlue

DrSqueeze

Excellent! Well done, what a result

burty8899

congrats