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Nordic v MBNA


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Help! I'm getting nowhere with my calculations. I am claiming back a total of £837 in charges but am struggling calculating the interest. I do not have statements going back to see the rate of interest except my latest bill which says 1.8%. However when I try to work it out my interest on some of the early charges is actually more than the charge? Seems crazy. Any advice appreciated as I I'm desperate (have enough money to go to MCOL but that's it for this month!!).

Halifax: Data Protection Act letter sent 20/03/06, Request for charges refund sent 20/05/06, LBA sent 08/06/06, MCOL completed 03/07/06, Claim no 6QZ43444 date of service 07/07/06. Claim for £1665.

STILL WAITING!!

MBNA (two cards): DPA letter sent 21/03/06. Request for charges sent 05/07/05, LBA sent 20/07/06.

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Not an overdraft - 2 credit card accounts. The 8% bit is easy as I already have a spreadsheet for that.

Halifax: Data Protection Act letter sent 20/03/06, Request for charges refund sent 20/05/06, LBA sent 08/06/06, MCOL completed 03/07/06, Claim no 6QZ43444 date of service 07/07/06. Claim for £1665.

STILL WAITING!!

MBNA (two cards): DPA letter sent 21/03/06. Request for charges sent 05/07/05, LBA sent 20/07/06.

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Well the deadline for MCOL has just past so I'll be putting my claim together tomorrow. MBNA can't be bothered to answer emails any more so I'll take them for all I can. My query is still with the interest on my charges. The charges total £837. I understand that the interest via MCOL is 8%. However surely they should be paying me back more than this? Regardless of whether or not I go over my credit limit due to the charges they apply each charge regardless is subject to the 1.8% per month (21.6% pa) charge that they apply to the outstanding balance.

 

I'm quite happy to put in the MCOL claim for 8%. However I'd love to screw them for every penny I can. Is there any way I can word the MCOL particulars to make them work out the interest as they apply it if no-one can assist with the actual calculations.

 

I know some people have made suggestions but;

 

1. No, I do not have the statements, MBNA sent me a list of charges only, so I can't refer to them for interest rates.

 

2. I have already calculated the interest by applying 8% to each charge in the form of a spreadsheet so I don't need help with that.

 

My main concern is that by applying the 8% the total interest on the charges of £837 is only £100.22. When you consider they have been charging me 20%+ per annum this looks a little low!

Halifax: Data Protection Act letter sent 20/03/06, Request for charges refund sent 20/05/06, LBA sent 08/06/06, MCOL completed 03/07/06, Claim no 6QZ43444 date of service 07/07/06. Claim for £1665.

STILL WAITING!!

MBNA (two cards): DPA letter sent 21/03/06. Request for charges sent 05/07/05, LBA sent 20/07/06.

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