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Barclaycard interest refund
bertiewhite
Posts: 1,904 Forumite
in Credit cards
I recently received a letter from Barclaycard explaining that they had overcharged me interest - the wording was as follows:
"When previous promotional balances you had ended we made a mistake in how we used your monthly payment towards those balances. This means we overcharged you at least £249.89 interest"
Now I understand what this means and it's nice to have that money refunded against my current outstanding balance but I have 2 questions:
1. I'm puzzled as to why they said AT LEAST £249.89 when the refund was exactly that. "At least" implies that it should be more?
2. I can't help thinking that Barclaycard would have profited out of this mistake, especially if there were many more customers involved so should I query this further or should I just be happy that I've got the money back?
Has anybody else had this as well?
"When previous promotional balances you had ended we made a mistake in how we used your monthly payment towards those balances. This means we overcharged you at least £249.89 interest"
Now I understand what this means and it's nice to have that money refunded against my current outstanding balance but I have 2 questions:
1. I'm puzzled as to why they said AT LEAST £249.89 when the refund was exactly that. "At least" implies that it should be more?
2. I can't help thinking that Barclaycard would have profited out of this mistake, especially if there were many more customers involved so should I query this further or should I just be happy that I've got the money back?
Has anybody else had this as well?
0
Comments
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They won't have profited, as the redress should include all additional costs you incurred.
But by all means query the wording, I suspect it's just badly written.0 -
No it doesn't, it implies that's the minimum you will get back. I suspect they will do a final total when the refund is made.bertiewhite wrote: »"At least" implies that it should be more?
They are correcting a mistake and now you are still implying they are ripping you off. How the mind works when a few quid is involved.0 -
Deleted_User wrote: »They won't have profited, as the redress should include all additional costs you incurred.
But by all means query the wording, I suspect it's just badly written.
Thanks ZX81, that makes sense.No it doesn't, it implies that's the minimum you will get back. I suspect they will do a final total when the refund is made.
They are correcting a mistake and now you are still implying they are ripping you off. How the mind works when a few quid is involved.
Absolutely not. The refund has been made already - for exactly the amount they said.
I'm just asking why the wording wasn't just "we overcharged you £249.89" and if anybody else has had the same? A valid question, surely.0
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