help with Capital One

gettingitback

First time posting here so please be gentle.

My husband transferred a balance to a Capital One card some 18 months ago, and we were lucky enough to be able to clear the balance last November, or so we thought!

We paid the whole balance as shown on the statement within the due date, so we were suprised when we received a statement in December asking for balance transfer interest which was due. We wrote a letter advising them that we had paid the whole amount and that as far as weq were concerned we had a zero balance. The correspondence from them has been sloppy to say the least. They even sent one letter telling us to send it to another department! Well they have since been adding on late payment charges of £12/month. I did actually do an online payment for the original interest they claimed we owed. I recently received a reply to my last letter and they even said that I hadnt paid anything since this whole thing started eventhough I have a statement showing otherwise.

I just need some help to clear this up as I fear that they will let it go on forever. To my 7 letters to them I have received just 3 replies, I am at my wits end.:mad:

YorkshireBoy

If you didn't clear the balance before the end of the 0% introductory period, you'll need to repay two consecutive statement balances in full to stop the interest.

If this matter has been running since last December, your credit rating is being seriously damaged by the registering of missed payments on your credit file each month. In fact, it wouldn't surprise me if Capital One default the account very soon (if they haven't already!).

As a general point, if you can't get any queries resolved with one phone call it's best to invoke the providers official complaints procedure. That way, you're guaranteed a result within 8 weeks - or a letter of deadlock which you can then use to involve the Financial Ombudsman.

k1mmie

I would certainly look into the period they have been charging you - but would also put a claim in against them for the refund of charges. Bearing in mind that credit cards are not covered by the OFT Test.

tom188

The 0% end date need not correspond with the payment due date.

Example
Your 0% end date could be the 1 August and your due date the 15 August. If you dont pay to the 15 August you will be charged interest at the standard rate from the 1 to the 15 August.