Capital One - Interest Charges

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I had a Capital One CC which I opened 8yrs ago. I paid off the balance and closed my card over the phone. I have no paperwork to confirm this.

I recently checked my Credit Report and there is an outstanding debt of £308 with Capital One. I called them yesterday and they say that this is interest which as accumulated over the 8yrs as there was *2p* of interest on my acct when I called to close it.

So basically, a 2p interest fee is now a £308 bill!
I have never received any paperwork chasing the cost by post as I have moved since having the card.
However, my mobile phone and email address have remained the same but I have never been contacted.

Capital One are adamant that I have to pay this £308 bill. Can anyone assist please as to where I stand on this?

Thanks

Comments

  • PeacefulWaters
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    A politely worded letter saying you believed the account to be closed and asking for them to confirm:

    1. nothing is owing.
    2. the account has been closed.
    3. your credit record reflects nothing derogatory.

    See what response you get. FOS if you're not happy after that.
  • iAMaLONDONER
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    lisahud82 wrote: »
    I had a Capital One CC which I opened 8yrs ago. I paid off the balance and closed my card over the phone. I have no paperwork to confirm this.

    I recently checked my Credit Report and there is an outstanding debt of £308 with Capital One. I called them yesterday and they say that this is interest which as accumulated over the 8yrs as there was *2p* of interest on my acct when I called to close it.

    So basically, a 2p interest fee is now a £308 bill!
    I have never received any paperwork chasing the cost by post as I have moved since having the card.
    However, my mobile phone and email address have remained the same but I have never been contacted.

    Capital One are adamant that I have to pay this £308 bill. Can anyone assist please as to where I stand on this?

    Thanks

    Wow! That's inflation busting interest!

    I guess the 6 year limit might have passed?
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