Service Charge With Studio

customdaddy

I have a account with studio cards, every month i get charged between £24 - £29 service charge, what is this for as its making it really hard to pay it off when i am paying say £50, in effect im only paying half cause the service charge is so high, can i re-claim on the service charge, please someone help i have threads everywhere asking this question nobody seems to know the answer,

chuckles1066

customdaddy wrote: »

I have a account with studio cards, every month i get charged between £24 - £29 service charge, what is this for as its making it really hard to pay it off when i am paying say £50, in effect im only paying half cause the service charge is so high, can i re-claim on the service charge, please someone help i have threads everywhere asking this question nobody seems to know the answer,

Alas, you should never have paid any of the service charges; they're almost certainly unlawful (it's actually interest dressed up under another name....there's a very good reason that Studio are careful not to use the word "interest"!).

customdaddy

so can i claim it back

catalonia13

chuckles1066 wrote: »

Alas, you should never have paid any of the service charges; they're almost certainly unlawful (it's actually interest dressed up under another name....there's a very good reason that Studio are careful not to use the word "interest"!).

I'd also like to know if these 'service charges' can be reclaimed, I have all the details on the Reclaim Bank and Credit Card Charges Resource Bar thread (Studio Card charges (nightmare!) can anyone help please?)
but not had a reply as yet, in brief,

goods purchased between 2002-2004 = £302,
paid back so far £1680.49 (yes, you did read that figure right!)
Admin charges £478.65
balance still owing = £362.56
and I havent even looked at how much in 'Service Charges' has been paid yet,
any advice apprectiated please!
Thanks,
Linda

DaisyFlower

The T&C's on their website quite clearly show the service charge/rate if you choose not to pay your balance in full. Therefore its only really like a credit card where interest is added if you dont clear the card.

You would be better off clearing the balance or possibly transferring to a 0% card.

Having looked at the site, the charges are high but only as bad as some store cards. Not really seen them before googling, its a bit like an all year round xmas store like the hamper companies.

catalonia13

DaisyFlower wrote: »

The T&C's on their website quite clearly show the service charge/rate if you choose not to pay your balance in full. ......

Thanks DaisyFlower, jsut had a look! It says -

"Option 2 – you will be sent a statement every 28 days showing the minimum payment due which you will be expected to pay within 21 days. You may pay your instalments by cheque, bank giro, debit card, credit card or postal order, and every 28 days you will be charged just 2.6p, for every pound owing, together with a service charge on any purchase added to your balance on your previous statement from the date of despatch of each item up to that statement. There will be a minimum service charge of £1, 39.8% APR typical (variable). Written quotations available on request.

So, reading the bit I've put in bold, as she hasn't purchased anything since 2004 am I right in thinking that they cannot add a Service Charge?

Janjel

Please hlep - Studio cards have put a DCA on to me to collect money. i bought goods a few years back worth £80 and have paid them £100 - they say i still owe them over £100 late payment fees etc etc - i have asked for a breakdown on this as i will be claiming them back. They have now put a bully DCA on to me who keeps ringing my mobile and saying that he will hand deliver documents and that they will take me to court - i don't want a DCA calling to my house when i am disputing somehting - any advice????? This is really stressing me.

catalonia13

Janjel wrote: »

Please hlep - Studio cards have put a DCA on to me to collect money. i bought goods a few years back worth £80 and have paid them £100 - they say i still owe them over £100 late payment fees etc etc - i have asked for a breakdown on this as i will be claiming them back. They have now put a bully DCA on to me who keeps ringing my mobile and saying that he will hand deliver documents and that they will take me to court - i don't want a DCA calling to my house when i am disputing somehting - any advice????? This is really stressing me.

Is the DCA Moorcroft, or something like Moorcroft, is so its one and the same as Studio, not that that may help much, I'd suggest telling the DCA that you are claiming back their excess charges and when the matter is relsoved you will no longer owe them anything!
ATB!
Linda

Janjel

Thanks Linda - i think he said the company was called Tim Lewis. He rings me from a local number and is very pushy. He just kpeeps firing questions at me until he gets answers - i told him i would report him for harrassment if he kept it up.

catalonia13

Janjel wrote: »

Thanks Linda - i think he said the company was called Tim Lewis. He rings me from a local number and is very pushy. He just kpeeps firing questions at me until he gets answers - i told him i would report him for harrassment if he kept it up.

Sounds more like an agent (usually on a commission only basis!) working for Studio to me!

Just be polite but firm and stand your ground, "I am claiming a refund of excess charges as per the OFTs decision last year, if the charges are refunded there will be nothing left to pay (or only x amount) and I will not be making anymore payments this matter is resolved"
don't get into discussions with him, just repeat the above line.

ATB,
Linda