Barclaycard interest refund

bertiewhite

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?

[Deleted User]

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.

bris

bertiewhite wrote: »

"At least" implies that it should be more?

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.

bertiewhite

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.

bris wrote: »

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.