Moebius vs Cap one

[steven4064]

I have a link to mindzai's spreadsheet - apr goes on page 1, charges and interest charged thereon on page 2. Ignore page 3, interest calc on page 4.

[steven4064]

Moebius

 

You are right - the interest bit of page 1 doesn't seem to work properly (I have never used that bit.). What you can do is to put the interest levid on charges in the first set of columns on page 3. You can only ever estimate interest charged because you don't have access to the algorythm the bank uses. WhatI suggest is this:

 

For each month where you have charges there should also be an interest addition at the end of the month on the statement. Some (most) of this will be legitimate interest on what you have borrowed so you need to estimate how much is due to charges. Put that in another row as a charge.

 

As to credit card letter, just use the same ones as for other bank charges but modify appropriately - obviously drop references to overdrafts and DDs and substitute late payment cahrges, etc. Also I haven't looked at the letters recently but you should remove any reference to the Unfair Contract Terms Act and the Supply of Goods and Services Act if they are still there (this applies to bank claims as well).