Capital One

brightonman123

amendment welcome- not suree how how to calculate the subsequent interest they charged, on top of the excessive fees (rather than actual spend- i reckon fees and interest make up the vast majority of the £1400 odd balance!)



"I refer to default charges applied to my account amounting to £548.00*, which I have requested you pay back.

Your letter dated xx September (ref- xxx refers, but the amount of £210 that was offered is not acceptable.

I am writing to inform you I intend to refer the matter to the Financial Ombudsman, and if neccessary, the county court, to commence proceedings to recover this sum, along with interest up to the date of judgment, any subsequnt charges, and any court fees incurred.

This is based on the Unfair Terms in Consumer Contracts Regulations, as I believe these default charges are unfair and not proportionate to your costs, and therefore the court will rule in my favour. As I am sure you are aware, the Office of Fair Trading also stated in its April 2006 statement into credit card charges that it considers charges are at a higher level than is legally fair.

* This figure does not yet include the interest that was added, or any subsequent fees and charges. To date, the charges and interest I have claimed above total £733.83.

I look forward to a full response to this letter within 14 days, otherwise I will commence further action to reclaim these costs."

esmerellda

the OFT havent said £12 is fair, they have said they will not take action on companies that charge under that level. Its not proven in court that £12 is fair at all, so until it is they are fair game (as it were)

Ombudsman isnt scary btw. CAP ONE I would go to court rather than Ombudsman but it is personal choice. They will pay up.

Yes you can claim the interest charged on the fees (not that charged on purchases tho) there should be a line in your letter saying 'and any interest charged thereon' which covers it okay for prelim and LBA letters.

I would send the standard second letter then consider your options for going to court. I havent seen the standard letter on here but if you wanted to have a go at amending it then pop it up here (minus personal details) see if we can jig it about a bit.

brightonman123

here ya go,, £548 basic charges (from stats suplied, interest about £180, total £733 - how can i amend claim, or request subsequent charges/fees back?

have read that going via FO carreis more weight, and no cost to claim- can do court if desired afte that.?

credit card – unfair charges reclaim – letter #2.

WITHOUT PREJUDICE

Dear Sir or Madam,

I refer to default charges applied to my account amounting to £548.00*, which I have requested you pay back.

Your letter dated 2 September (ref- xxx) refers, but the amount of £210 that was offered is not acceptable.

I am writing to inform you I intend to refer the matter to the Financial Ombudsman, and if neccessary, the county court, to commence proceedings to recover this sum, along with interest up to the date of judgment, any subsequnt charges, and any court fees incurred.

This is based on the Unfair Terms in Consumer Contracts Regulations, as I believe these default charges are unfair and not proportionate to your costs, and therefore the court will rule in my favour. As I am sure you are aware, the Office of Fair Trading also stated in its April 2006 statement into credit card charges that it considers charges are at a higher level than is legally fair.
* This figure does not yet include the interest that was added, or any subsequent fees and charges. To date, the charges and interest I have claimed above total £733.83.

I look forward to a full response to this letter within 14 days, otherwise I will commence further action to reclaim these costs.
Yours faithfully,

esmerellda

Penalty charge arguments under common law apply to credit card charges as they are a breach of contract so you should really add that in.


=====================================================
Dear Cap One

I have previously written to ask you to refund to me the penalty charges which you have added to my account over the last XX years. This letter was dated XX/XX/XX.

I acknowledge your offer to refund £210, in your letter dated 2nd September. I am sure you will realise this offer is unacceptable.

I have recently discovered that these charges are unlawful at Common Law & Statute. This is further reinforced by the Office of Fair Trading report of 05/04/06 which concluded that these charges are unfair to the consumer. If you believe that they are not penalties, then will you please demonstrate this by giving me a full breakdown of the costs you have incurred as a result of my breaches, in order to prove to me that your penalties really do reflect your actual losses.

I calculate that you have charged me a total of £XXXX to date. Additionally, you have charged me interest on those unlawful charges which I estimate at £XXX. I also consider that I should be compensated for the "time value" loss of my money, unlawfully taken from my account, I consider a suitable compensatory payment to be £xxxx. Therefore the total I am requesting at this stage is £xxxx. I attach a schedule of the charges which I am claiming with this letter.

Please be notified that if I do not receive a full refund as requested within 14 days, I shall refer my complaint to the Financial Ombudsman.

Lots of Love

xx

=====================================================

You can remove the compensatory interest part if you prefer - or you can do you calculations for 8% PA stat interest on your charges and use that figure. Also remember you can only claim interest that they have charged you on the charges so you can either leave it to them to work out of quote a figure estimated, or the whole lot for them to dispute.

what do you think?

brightonman123

cheers, i will go with this!

Ex-Spendaholic

Great letter. I'm still :rotfl: :rotfl: at the thought of writing lots of love to Capital one. Brilliant! :T

dazzaofdagenham

Just rejected an amount of £130 from Capital one against a claim of £522.

Just filled in the paperwork for the FOS....

Anybody know what the turnaround time nowadays is for the FOS ?

Thanks

SUGARSPICE

Hi

I need to reclaim again from Capital One after successfully reclaiming before.

But I only need to reclaim the past couple of months.

Do I need to ask for statements again or can I use the ones that they send me monthly that I have got at home?

Any advice/Answers would be great.

pinknico

If all the information you need is on these statements thats all you need.

harryposter

Edinburghlass wrote: »

No, you can claim for late payments or going over your credit limit but not the interest they charge you for using a credit card.

How about the 'interest on purchases' they have charged me for years when the only 'purchases' on the account are late payment and overlimit fees (account closed for more than 2 years now though I am still paying monthly by standing order)?

Can I claim for these specific interest on top of the charges?
I mean, if they didn't charge me both late and overlimite fees despite the monthly agreement I have stuck to without failing, there wouldn't have been interest on it as my account has been closed for more than 2 years and I didn't make any purchase, would there? There wouldn't have been charges at the first place if they had stuck to the agreement.

So why couldn't I claim for these interest on (fictitious) 'purchases'?

Thanks for your help anyone.