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  • FIRST POST
    • MizLee
    • By MizLee 16th Oct 19, 7:26 PM
    • 5Posts
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    MizLee
    Suspension of interest charges for Thomas Cook transaction
    • #1
    • 16th Oct 19, 7:26 PM
    Suspension of interest charges for Thomas Cook transaction 16th Oct 19 at 7:26 PM
    Good day,
    I always pay off the balance on my credit card in full and I have been with them a long time. I purchased a holiday with Thomas Cook with my Barclaycard 3 weeks before they went burst.
    As soon as I heard the news and because of the amount involved, I put a claim through with the credit card company (bearing in mind they also sent me a text to do this when the news broke) and they said all interests on the amount will be suspended.
    Fast forward to today, I recieved a letter which says in a nutshell to go claim with CAA and that any suspension they might have applied to interest charges on the amount has now been removed and full interest will be due on the amount from the date on the letter.
    I have been informed the refund by ATOL may take up to 60 days. This means I will be charged interest on this amount for the duration or I pay off the balance and just sit and wait till ATOL processes the claim I submit.

    I want to find out:
    - Can I respond to Barclaycard stating S75 or I do not have any leg to stand on? Bearing in mind, I will be charged interest for as long as the full balance remains fully paid.

    Many thanks.
Page 1
    • Gary_Dexter
    • By Gary_Dexter 16th Oct 19, 7:43 PM
    • 6,849 Posts
    • 4,558 Thanks
    Gary_Dexter
    • #2
    • 16th Oct 19, 7:43 PM
    • #2
    • 16th Oct 19, 7:43 PM
    Pay the balance off to avoid the interest.
    You’ll get the money back from the other means.
    • Ben8282
    • By Ben8282 16th Oct 19, 8:57 PM
    • 3,954 Posts
    • 2,155 Thanks
    Ben8282
    • #3
    • 16th Oct 19, 8:57 PM
    • #3
    • 16th Oct 19, 8:57 PM
    You are claiming through the ATOL protection not through the credit card.
    You will therefore have to pay the credit card at some point.
    You say that you always pay in full every month and have said nothing to the effect that your intentions with regard to the holiday payment were any different.
    Therefore you presumably have the money to pay so pay up or pay interest. It's up to you.
    • born again
    • By born again 16th Oct 19, 9:02 PM
    • 597 Posts
    • 310 Thanks
    born again
    • #4
    • 16th Oct 19, 9:02 PM
    • #4
    • 16th Oct 19, 9:02 PM
    I want to find out:
    - Can I respond to Barclaycard stating S75 or I do not have any leg to stand on? Bearing in mind, I will be charged interest for as long as the full balance remains fully paid.

    Many thanks.
    Originally posted by MizLee
    You can contact them re this. But my feeling is that as ATOL are refunding then they will deny the claim on that basis. Or you could end up with 2 refunds. As S75 comes from card provider and NOT ATOL or any retailer.
    Also S75 is never a quick process.
    • MizLee
    • By MizLee 17th Oct 19, 1:44 PM
    • 5 Posts
    • 0 Thanks
    MizLee
    • #5
    • 17th Oct 19, 1:44 PM
    • #5
    • 17th Oct 19, 1:44 PM
    Thanks for the responses. I will do as advised. I erroneously assumed S75 is a quick process.
    Many thanks!
    • phillw
    • By phillw 17th Oct 19, 2:25 PM
    • 3,090 Posts
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    phillw
    • #6
    • 17th Oct 19, 2:25 PM
    • #6
    • 17th Oct 19, 2:25 PM
    and full interest will be due on the amount from the date on the letter.
    Originally posted by MizLee
    Was the date in the future, or are they expecting to get interest for the time between sending the letter and you receiving it? If they accepted the claim in the first place and suspended interest then reinstating it without giving you the chance to avoid it is kinda unfair.

    If so then I'd complain about that as I'm not sure you'll be able to claim for the interest from ATOL.
    • Heng Leng
    • By Heng Leng 17th Oct 19, 3:26 PM
    • 4,893 Posts
    • 1,608 Thanks
    Heng Leng
    • #7
    • 17th Oct 19, 3:26 PM
    • #7
    • 17th Oct 19, 3:26 PM
    Was the date in the future, or are they expecting to get interest for the time between sending the letter and you receiving it? If they accepted the claim in the first place and suspended interest then reinstating it without giving you the chance to avoid it is kinda unfair.

    If so then I'd complain about that as I'm not sure you'll be able to claim for the interest from ATOL.
    Originally posted by phillw
    Since they are jointly liable (via S75) for the provision of the contract, I would say that you will happily pay the interest when they fulfil their obligations i.e. provide you with the holiday ordered.
    • phillw
    • By phillw 18th Oct 19, 10:41 AM
    • 3,090 Posts
    • 2,565 Thanks
    phillw
    • #8
    • 18th Oct 19, 10:41 AM
    • #8
    • 18th Oct 19, 10:41 AM
    Since they are jointly liable (via S75) for the provision of the contract, I would say that you will happily pay the interest when they fulfil their obligations i.e. provide you with the holiday ordered.
    Originally posted by Heng Leng
    You don't get covered twice though, i.e. you can only claim from the credit card provider if you have no other option & they've informed him he does have that option. So I'd expect them to try their luck and if they do you should push back.
    • Heng Leng
    • By Heng Leng 18th Oct 19, 6:49 PM
    • 4,893 Posts
    • 1,608 Thanks
    Heng Leng
    • #9
    • 18th Oct 19, 6:49 PM
    • #9
    • 18th Oct 19, 6:49 PM
    You don't get covered twice though, i.e. you can only claim from the credit card provider if you have no other option & they've informed him he does have that option. So I'd expect them to try their luck and if they do you should push back.
    Originally posted by phillw
    The S75 protection is superior as they are liable on a like for like basis.
    ATOL will only refund the principal sum paid. If there is a gap (e.g. interest cost) I would expect the credit provider to make good the difference.

    Do you understand that you can be covered twice but not paid double?!
    • born again
    • By born again 18th Oct 19, 7:20 PM
    • 597 Posts
    • 310 Thanks
    born again
    ATOL will only refund the principal sum paid. If there is a gap (e.g. interest cost) I would expect the credit provider to make good the difference.

    Do you understand that you can be covered twice but not paid double?!
    Originally posted by Heng Leng
    The OP stated they pay in full. So there was no reason that they should not have done the same as usual. Even with the letter about no interest.

    But are you aware that ATOL would NOT be aware that the Card Provider has refunded the customer?
    As S75 refunds come from the card provider and no contact is made with the retailer/bond agent.

    Thomas Cook banged on & on before they closed that EVERYONE who had booked a package holiday would get a FULL refund from ATOL.
    So no reason to contact bank/card provider for a refund.
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