Does Virgin CC (MBNA) owe me money?

princess*daisy

Hi,

I've just checked my credit report via Noddle and was browsing through my settled accounts. All of these have the balance as £0, except my Virgin/MBNA CC, which was -£37 (i.e. MINUS £37).

Does this mean I have overpaid and they actually owe me £37? As the account was settled in March 2011, I have not had a statement for 12 months.

Also, how would I go about claiming this back if it is owed, given that I closed the account? Any advice much appreciated.

Thanks

bengalknights

It would suggest you have a credit on account,

What you need to do is get a old statement out give them a call and use the account number on the statement.

princess*daisy

Thanks Bengalknights. I will give this a go. Funny how CC companies are quick to demand when you owe them money, but conveniently keep schtum when they might owe you something! :mad:

princess*daisy

Just rang them and they did owe me money - they are crediting £39 back to my bank account :j I'm so glad I checked Noddle on a whim

DebtFreedom_2

Knowingly withholding money is fraud. Worth complaining to them.

princess*daisy

Think I might complain actually. I should have demanded 19% APR on it as well! Do I have any grounds to ask for any sort of financial compensation?

nctmum

No you dont!

YorkshireBoy

princess*daisy wrote: »

Do I have any grounds to ask for any sort of financial compensation?

You've had some haven't you? They've given you the equivalent of 6.75% for a basic rate tax payer (by returning £39 on a £37 credit balance)...and where else would you have got that return on your money over the last year?

How did the credit occur?
If you sent too much then it's your fault isn't it?
If you made a payment and they still took a DD (as they say they will in your paperwork) - and you didn't notice - then it's your fault again isn't it?
If you didn't check the statement following your last payment to them, then it's your fault again isn't it?

I'd be happy with the 6.75% gross rate personally, and let them deal with more serious complaints that others have.

Ben8282

princess*daisy wrote: »

Think I might complain actually. I should have demanded 19% APR on it as well! Do I have any grounds to ask for any sort of financial compensation?

No. It's your own fault for not checking your statements. Don't you KNOW how much you paid? Don't you ever look at your statements?

Ben8282

DebtFreedom wrote: »

Knowingly withholding money is fraud. Worth complaining to them.

Failure to refund a £37 credit balance when the cardholder has not asked for it to be returned hardly constitutes withholding money and is certainly not fraud.

MBNA have made no attempt to keep the existance of the credit balance a secret.

cos_2

I closed a CC account some years ago. It had a small credit balance and they automatically sent me a cheque for the amount. I wonder why this lot didn't do the same? Do they expect a customer to submit a claim for the credit balance otherwise it'll be retained indefinitely by the CC company?

I used to have a Virgin CC but have closed it and disposed of the T&Cs. Perhaps they DO hang onto balances until asked to return them.