Capital One

KerryJean

Just like to tell all those currently pursuing Capital One to KEEP AT IT.

I received full and final settlement this morning in the post after filing my claim with MCOL on Feb 2nd.

Good luck!

Blazeparadox

After my LBA, I had no reply from Cap One so I have started proc with Moneyclaim. Lets see what happens now:)

mingmong_2

Just rang capital one for 6 years of statements, think they owe me about £2000 maybe a bit more depending on when the charges were reduced to £12.
The bloke on the phone was wanting to know why I wanted them and if im having a nice day, must be used to loads of people ringing up.

He even noticed that if I did not make a payment within the next two days that I would be charged late payment fee, had to have a little laugh to myself.

Anyway how long do most people have to wait before recieving statments from ringing Capital One and also if my charges back are more than what my balance is will they close my credit card account with them.

mackers8923

mingmong wrote:

Just rang capital one for 6 years of statements, think they owe me about £2000 maybe a bit more depending on when the charges were reduced to £12.
The bloke on the phone was wanting to know why I wanted them and if im having a nice day, must be used to loads of people ringing up.

He even noticed that if I did not make a payment within the next two days that I would be charged late payment fee, had to have a little laugh to myself.

Anyway how long do most people have to wait before recieving statments from ringing Capital One and also if my charges back are more than what my balance is will they close my credit card account with them.

They probably told you 5 - 10 days mine arrived on the 6 days Special Delivery so it won't be long before your able to start calculating.

mingmong_2

Ok if I have a balance of 600 pound with capital one and they owe me about 300 in charges, if I claim them back will they close my account and ask for the 600 outstanding to be payed straight away, as could not afford it or will they just give me the 300 and let me keep my account.

Edinburghlass_2

Although Capital One don't seem to be the easiest to deal with they don't seem to be closing account/withdrawing overdrafts. They would have to give you 28 days before doing either.

michellefromessex

Hi ive just successfully claimed back my charges from Natwest, I also have a capital one credit card and have had late payment etc charges on this, Can I just send them to same letter template as the one for Bank accounts?

Beate

Ring the following free number: 0800 9525150 and request the charges. Ours arrived just 8 days later - for free. Capital One doesn't charge you for sending out statements.

Edinburghlass_2

michellefromessex wrote:

Hi ive just successfully claimed back my charges from Natwest, I also have a capital one credit card and have had late payment etc charges on this, Can I just send them to same letter template as the one for Bank accounts?

Use the same letter just amend the wording to read late payment fees and/or over limit fees.

MonkeySaving?

michellefromessex wrote:

Hi ive just successfully claimed back my charges from Natwest, I also have a capital one credit card and have had late payment etc charges on this, Can I just send them to same letter template as the one for Bank accounts?

Use this template first and ensure you send a correct list of charges (without interest at this stage)

INSERT YOUR ADDRESS

EXECUTIVE OFFICE
ERC DEPARTMENT
CAPITAL ONE BANK PLC
PO BOX 5281
NOTTINGHAM
NG2 3HX


INSERT TODAYS DATE


Request for repayment of charges

Dear Sir/Madam,

ACCOUNT NUMBER: XXXX-XXXX-XXXX-XXXX


My request
I am writing to ask you to refund to me the charges which you have levied from my Capital One credit card account over the period XX-XX-XXXX to XX-XX-XXXX.
I now understand that the regime of fees which you have been applying to my account in relation to over-limit fees, late payment fees and so forth are unlawful at Common Law, Statute and recent consumer regulations. If you say that they are not, then will you please demonstrate this by letting me have a full breakdown of the costs to which you have been put by as a result of my breaches, in order to reassure me that your penalties really do reflect your costs.
Additionally, it has now been confirmed that your particularly high level of penalties are considered to be unfair per se by the OFT who reported on the 5th April 2006 and are therefore presumed to be unlawful in the absence of specific proof to the contrary.

Your responsibilities
I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.

I am quite frankly disappointed that you have operated my account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary.
I consider that your repeated representations that your charges are fair and reasonable are deceptive and that they have deceived me into agreeing to pay them.
Your concealment of the true nature of your charges has prevented me from asserting my right until now.

What I require
I have calculated that you have taken £XXX in charges.
I enclose a schedule of the charges which I am claiming with this letter


My targets to resolve this matter
I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets.

I will give you 14 days to reply to me in writing, accepting unconditionally, my request in principle and letting me know a date by which I will receive payment.

If you do not respond, or you do not respond positively, within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that these targets are more than sufficient for a large company such as yours with dedicated staff and departments.

After that, there will be no further communication from me and I shall issue a claim at the expiry of the second deadline.





Yours Faithfully



It is highly likely that you will receive a letter offering a partial settlement. Follow it up with the LBA that should look like this.

INSERT YOUR ADDRESS

EXECUTIVE OFFICE
ERC DEPARTMENT
CAPITAL ONE BANK PLC
PO BOX 5281
NOTTINGHAM
NG2 3HX

INSERT TODAYS DATE

Dear Sir

REF: ACCOUNT NUMBER: XXXX-XXXX-XXXX-XXXX
I refer to default charges applied to my account amounting to £XXX, which I have requested you pay back.
Thank you for your offer of £XXX as a gesture of goodwill. I am happy to acknowledge this as partial payment of the money owed to me, however I will still be looking for payment of the outstanding amount and this does not constitute closure of my overall claim. I am writing to inform you that I intend to claim the full amount (£XXX) up to the date of judgment and court fees in the proceedings through the county court.
I have attached a full schedule of the charges with this document.
With regard to your comments concerning the OFT statement of April 5th, whether or not you disagree with the OFT's analysis is frankly irrelevant.
Indeed, your response indicates that you have clearly missed the whole point of the OFT enquiry, and subsequent statement. In line with the OFT, customers also agree that banks have a right, as a business, to levy charges where there has been a requirement to intervene in customer accounts. The argument of customers, and also of the OFT, is that these charges must be fair, proportional, and a reflection of the actual loss to the bank for their action.

When the charge is issued as a penalty, the position of customers and the OFT is that the charge is unlawful under contract law, and is therefore unenforceable. To quote the OFT statement, 'We consider that a contract term is likely to be unfair if it requires consumers to pay more as a result of a default than the court would order them to pay if they were sued for breach of contract. This means that a default charge should not exceed a reasonable pre-estimate of the administrative costs that the consumer ought to have realised would be likely to be incurred by his or her card issuer in dealing with defaults.'

Additionally, the OFT did NOT state that it 'believes a default fee of £12 is fair.' What they actually said, and I quote, 'We are not suggesting that default fees should be set at £12, and a court will certainly not consider that a default fee is fair just because it is below the threshold.'

As you are clearly aware, most banks, as well as the BBA, have indicated that they think the analysis is wrong, unfair, or only related to credit cards. However, the fact remains that the OFT has stated it is subject to all consumer contracts - including bank accounts, overdrafts and mortgages

When the OFT makes a ruling, then creditors are expected, and indeed required, to comply. All banks and credit card companies, in general, hold licences to lend money under the Consumer Credit Act 1974.
With this in mind, and considering your ill-judged analysis, I may refer this to the OFT for misrepresentation, and one of the punishments available, is the revoking of a licence under the 1974 Act.

I look forward for a full response to this letter within fourteen days, otherwise I will commence court proceedings to reclaim my money without further notice.

I look forward to hearing your comments.


Yours faithfully,


It is likely that you get no response from the LBA in which case (and keep to the timescales) file with MCOL using info from previous posts on this board and add on your interest at this point
HTH:beer: