ajs444 v Cap. one ** WON - They Cave In Just Before The Hearing **

[rebel11]

http://www.moneysavingexpert.com/reclaim/credit-card-interest-rate-increases

[ajs444]

Having read moneysavingexpert, I can see what has happened with regard to the T&C's on the statement.

 

On March statement it says:- Crapone is now authorised by the FSA as an Authorised Payment Institution. Your interest rates are now linked to the BOE base rate.

 

This is really quite handy for them as the BOE interest rate is not likely to go any lower, and can only go upwards, so any increase cannot realy be challenged.

 

That is my reading of the situation, anyone got any other line of thought?

[ajs444]

So got reply back from these to**ers and they say that the only way I can get these figures is for them to supply statements at £10 charge, and I go through them to see when and what the rate change was.

Well Crapone, I already have the statements and will be doing my own calculations.

[ajs444]

If going through small claims, does the total claim £3000 in Scotland and £500 in England include the interest charged in restitution and the 8% statutory interest?

[ims21]

Hi

 

I believe interest in restitution is included but 8% stat isn't

 

Regards

 

ims

[ajs444]

Well decided to get the finger out and do something about Crapone, they are charging me a fortune just now in interest (31.9%)

I have asked them how my rate went from 7.7%APR to this eyewatering rate, but as usual the crapone avoid the question letter.

 

I have looked at the court procedures for small claims, anyone know if you just copy and paste the same POC's used in the English court systems?

 

I also understand small claims to be £3000 limit, is this due to be increased?

[maroondevo52]

Hi,

 

I don't think the limit will be increased in the near future, 2007/2008 they increased it from £750 to £3,000. With a couple of my claims I used Summary Cause actions , where the limit is £5,000.

There is more of a risk going down this route as if you were to lose you'd be liable to pay costs.

 

The procedure for using Summary Cause actions is almost identical to the Small Claims but you have to pay for Sheriff Officers to serve your claim on the Bank, with a small claim the court does it all for you.

 

 

There's a poc in here you could amend to suit.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?94302-Updated-Scottish-Procedure

[ajs444]

Cheers for that maroondevo, may come back for more info.

 

Worrying times at Tynie for you, though we still gifted you 3 points.

 

C'mon ye pars!

[maroondevo52]

Not been to East End for a while used to take a short cut through the graveyard !!!

[ajs444]

Well got my finger out as their monthly payments are really getting on my goat. Have gone back to March 2010 when I originally contacted them, and then back to March 2004 and it comes up to just under £3000 they are due me, interest at 31.9% the rate they are charging me at just now. I have also included default charges for the last year and it brings it all within the Scottish Small Claims Court.

 

I also reminded them of my request to why my interest rate had gone from 7.7% up to 31.9%?????? on this they have become obstructive, saying I have to SAR them along with £10.

 

I have already all statements and my account logs and I cannot see any reasons for rate increases on the log and the statements do not show interest rates.

 

I am not paying them another penny, their call centre in The Far East keeps phoning me regarding payments, I as them if they are phoning to tell me when they are sending me the money????

 

They can't understand that response, not in the script!!!

[ajs444]

Whole ground like a graveyard now, still that's Scottish football, full of divers, allegedly.

 

Anyway Capone say last letter was their final response, so on to court we go, though the interest rate question seems to have been forgotten by them, have e-mailed them to remind them.

 

I think that they are avoiding the rates question so it really should go to the OFT/FSA not sure which.

 

Getting my barristers wig shampooed as I type.

[ajs444]

Looking for some template for court papers, links above lead me nowhere, anyone point me in the right direction, reclaiming default charges.

 

Using Scottish Small claims route, but wording will be the same.

[ajs444]

I'll answer myself, found it.

 

 

http://www.consumeractiongroup.co.uk/forum/content.php?561-Credit-Card-Charges.-POC-for-N1

[ajs444]

Well wrote back to them to say the interest rates were not on statements and their phone/account logs could not be translated. I am going to court regarding default charges but understand that the FOS may not touch UTCRR problems if I have case at court.

E-mailed them twice since letter and still they are not revealing the interest rate mystery.

[ajs444]

Well after writing to them again for interest rate tracking on my account and a further 2 e-mails chasing them up for a reply, I finally get an answer.

 

They say account opened in 1997 and rates have been increased under their changes to T&C's, have been informed of rises and had chance to decline rises by paying off card, or just not use it and pay balance up at new rate.

 

Since I asked for dates and rate increases with reasons, they have really just said that it is none of my business and given me leaflet for FOS.

 

Good customer service my arse, complaint form going in.

[ajs444]

Beware that when you get a letter from Crapone that they are that short of money page 2 is on the rear of page one!!!!!!

 

Found second page by accident last night, they say my rate has gone from 7.7% to 37.7% in 4 increases over the lifetime of the card, 14 years.

 

As a gesture of goodwill they have refunded all default charges since July 2011 plus a further goodwill contribution of a further £40, this comes to a total of £124.00 (whoopedoo)

 

Maybe they think they can wriggle off the hook with that?

 

I don't think so.

[ajs444]

Well keeping this claim back just now, POC's ready to go , but I am going for details of interest they are charging, going through FOS for this so court will have to wait.

 

They say in their letter that rate for purchases is 37.7% which is different from the rate shown on statements.

 

Thread below gives interest rate fight.

[ims21]

Hi

 

What rate are they quoting on the statements? Has your interest rate changed?

 

ims

[ajs444]

Last increase January 2010 according to Crapone, 37.07% for purchases and 31.32% for cash transactions.

 

Statement gives rates of Purchase 31.95% and Cash 27.56%

 

Obviously copying and pasting from another customer's case correspondence,you couldn't make it up.

[ims21]

Well they are about right

 

The figures of 37.07% and 31.32% are their APR

 

The figures of 31.95% and 27.56% appear to be the monthly rate on the statements multiplied by 12.

 

Use this to check

 

MonthlyToAPR.xls

 

 

ims

[ajs444]

Well FOS have decide to take them on, will keep you posted.

[rebel11]

Hi ajs444

 

It might be worth researching interest rates over the 14 year period from other card providers, the problem with the FOS is that they tend to go by the Creditors Terms and Conditions.

[ajs444]

I know what you are saying, but the original question to them was,

 

Date of Interest Rise?

 

Amount of rise?

 

Reason for rise?

 

They are deliberately concealing this information and it is noticeable that there has been no rate reduction, this in my opinion is unfare considering where interest rates are at this point in time.

 

T&C's state rates can rise and fall in line with BOE base rates, coincidentally now stated on the front of your CC statement.

[ajs444]

Well FOS could not get the information either, fobbed them off with the claim that reason for rises are commercially sensitive and would give competitors unfair advantage.

 

Surprise, FOS sides with Crapone.

 

Well on to Small Claims Court to get back charges.

[ajs444]

Actually stopped paying them whilst this dispute plus default charges was ongoing, so they have defaulted me and say that they are sending someone round to collect payment, this they have landed in iQOR's lap.

 

Despite telling them that doorstep callers are only by invite, they say that will not stop a visit, they were also told that all communication should only be in writing, they say phone calls will continue!!!!!

 

My case with FOS is still ongoing, Crapone have given list of statements with dates and the rate applied, unfortunately they have failed to supply the first 3 years of statements, FOS are banging their heads of the wall. The suggestion is that we appoint case to an Ombudsman in the FOS, maybe then Crapone will take notice.

 

Will now proceed to small claims court next week, will have to check if it is a holiday on Monday.

 

Don't some Financial Institutions just **** you off, considering they supplied an application form in response to my SAR, I don't think they have much leverage.