Capital one Credit Card PPI claim

[dx100uk]

same as you will if you fill out the cisheet properly as advised

 

dx

 

[joox]

Still adding the PPI charges to the CIS sheet.

do i add interest rate in cell 15D 

its seems its just adding all the charges at the moment 

Thanks, for the help and sorry about all the questions but there are no guides to fill out this sheet

[dx100uk]

yes avg APR in cell d15

[joox]

Update. Added all the charges into the excel and avg charge and the final amount is only slightly higher than the payment received. charges are were pretty low around £7 on avg.   

 

Was expecting around £2.5K as it was over 16 years

Hope we've calculated right!

[dx100uk]

you put the avg APR int rate into box D15

you put each PPI payment on the date it was made into the 3 cols below date , description amount.

 

not sure what you mean by avg PPI payment, you should ever be using an AVG payment unless you have monthly PPI data missing THEN you would input an AVG payment of the nearest 1yrs PPI payments.

 

dx

 

[joox]

From my calculations, it's not much more than what they Plevin payment they have offered.

Or maybe i can upload here to double check?

[dx100uk]

Yep drag to below

[joox]

have attached the cis sheet. let me know how you see it pls.

Many thanks

 

CISheet v101 CAPITAL ONE.xls

[dx100uk]

now go back and read re the interest you can charge them.

[joox]

10 hours ago, dx100uk said:

now go back and read post 30 re interest you can charge them.

I did, not much more than plevin payment it seems. 

[dx100uk]

a card is atleast 29% not 8%!

[joox]

right so we believe with the avg APR of 29% the amount could be in excess of £3K 

What is the next step? do we complain through the financial ombudsman?

[dx100uk]

no not till cap1 refuse your claim.

 

use the FOS customer questionnaire you can get from the FCA PPI website

send the spreadsheets

and that to CAP1

with a covering letter that you refuse the £1200 plevin offer you owe me this....

[joox]

Actually found out the APR is 35.9% which makes the claim over £14K. Does this make sense as it seems to be a quite a lot !!! 

 

APR 35.9 yearly

2.8% monthly 

[joox]

is this the form to be filled out? 

 

https://www.financial-ombudsman.org.uk/consumer/form/complaint_form.pdf

 

Also, does the cover letter need to include reasons for the claim again as the original letter?

Man thanks

[dx100uk]

pop up your xls file please

 

no use the 

the PPI complaint form on the FCA PPI website

https://www.fca.org.uk/ppi/how-to-complain

 

 

PPI cover letter.doc

[joox]

 

 

 

2

57 minutes ago, dx100uk said:

pop up your xls file please

I have uploaded here already 

[dx100uk]

yes I checked it earlier with the right int added in D15

looks ok to me

[joox]

14K sounds right? wow hopefully they will pay and will buy a drink or 2

[dx100uk]

if the card is still active then yes

[joox]

One last question and appreciate your patience, We called to find out the APR and the % we were told the annual APR 35.9%, so do we need to work out the average over the last so many years?

 

On the statements, the annual PPI charges are around £70/80 per year, just want to make sure where does this £14k come from?  

[dx100uk]

compounded int at their rate going back 12yrs?

but they'll put you right on the earlier rates im sure

worth a punt!!

[joox]

Is this the  FOS questionnaire to be sent to Capital One?

FOS Form

[dx100uk]

No

The customer questionnaire.

[joox]

This one:

https://www.financialombudsman.org.uk/ppi/PPI-consumer-questionnaire.doc