Capital One - Interest Charges

lisahud82

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

PeacefulWaters

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

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?