Tesco Bank - Credit Card Late & Over Limit Charges

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Hi all, hope everyone is ok?

After some advice/assistance in regards to a Tesco Bank Credit Card & the Late Payment and Over Limit charges.

Trying to help someone out who wants to get rid of the card all together, as they have refused to assist with delaying payments for the past 3mths as she has been over the credit limit.
The Current Balance is £320.30 with a Credit Limit of £250.00

 

Statements that she has available show the following fees applied:

19/07/2018 to 20/07/2019:

02 x Late Payment @ £12 
12 x Over Limit @ £12 

21/07/2019 to 19/06/2020
03 x Late Payment @ £12 
10 x Over Limit @ £12 
 

Total fees paid: £324.00

Can you tell me if it's still possible to reclaim these fee's / penalties - I did have a template letter link booked marked but this no longer opens.

Thanks in advance.

[dx100uk]

so the bal is all charges..wow.

totally unenforceable, but ofcourse she wouldn't see the money

they'll just remove it from the balance

 

is the card defaulted on her file?

 

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Nope.

She's missed the last two months payments and potentially will miss the next, as she has priority bills to pay with her small income.

 

Her statements show that she had been making payments between £30-120 to get it below the credit limit.

But then the purchases bring her close to limit  (Only uses it for fuel purchase and parking) & then the interest throws her over limit.

 

She just wants the account closed, and I thought yeah refunds.

 

Can you advise best way to go about it, such as the link to template?

[dx100uk]

well regardless ......the balance is all charges so..

not sure where the template has gone.

 

 

 

[slick132]

Hi Ads,

 

Do you know how far back your person has statements for.

 

If they've incurred late or missed payment fees before Covid19, do they have statements so you could accurately list all penalty/admin fees paid in the last 6 years.

 

If they're going to challenge the balance, they may as well include all charges incurred in the last 6 years.

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Tey have only upto Dec 2018 and an annual statement summary that was July 2018 to July 2019.

According to her credit file the account was opened July 2016 & no late payment / over limit markers show up until July 18.

 

[slick132]

Ok, it sounds like you're saying there were no penalty/admin chages before July 2018.

 

If that's the case, we can help her reclaim the penalty/admin fees charged by Tesco bank which should reduce the balance or get her a refund, depending on the figures.

 

Do you (or YF) want to go ahead with reclaiming the charges.

 

 

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I've told her to.

As this will help her clear and close the card.

[slick132]

Ok, first job is to list each and every late fee, over-limit fee, etc on to a spreadsheet.

 

Being honest, I'm not sure where the Site Spreadsheets are right now. In the past, we've advised reclaiming the charges plus compound interest but, in your case here, I suggest YF challenges the charges to get them withdrawn.

 

Let us know when the charges have been listed, showing date, type of fee, amounts and total.

[dx100uk]

 

[slick132]

Thanks DX.

 

Ads-uk - I suggest you use the 1st sheet which works out 8% Statutory Int on each charge.

 

This should be sent to the bank with an appropriate Reclaim letter in due course.

[ads_uk]

Is there any specific letter or just send something requesting the refund

[dx100uk]

attach your spreadsheet here 1st

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As requested.
Total Fees/Charges: £324.00
8% Interest: £23.42
Combined Total: £347.42

Current Balance (Statement dated 20/06/2020) £320.30
 

StatIntSheet v101 (1).xls

[slick132]

Thanks Ads,

 

I'm looking to find the Reclaim Letters we've used in the past, or their current equivalents.

 

You need them to write to the bank demanding that they withdraw the penalty/admin fees.

 

Bear with us while I do some searching .........

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11 hours ago, slick132 said:

Thanks Ads,

 

I'm looking to find the Reclaim Letters we've used in the past, or their current equivalents.

 

You need them to write to the bank demanding that they withdraw the penalty/admin fees.

 

Bear with us while I do some searching .........

Thanks - that's something I struggled to find myself.

I have an PPI and ROP (Vanquis) but not for charges

[slick132]

We're still working on this behind the scenes so hang on in there ...............

 

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30 min call just had on behalf of friend with Tesco to verify my details to act on her behalf.

They have refused to give me an email address to contact, when I said I will use the Resolve portal, the CS agent put me on hold, to comeback and said everything must be in writing and will only be accepted as a Letter!

Went on to say, a payment freeze of 3mths can be put on the account and he could refund the last two months charges - tried and couldn't (as the account is in arrears)

He then said his manager has said as a gesture of good will his manager has said they will refund one month - would I like that to be applied to the account.

I asked if that would be full and final of the complaint I wish to make, he said he is unsure and his manager is now on lunch - refused this.

They will not pass out the complaints department details.

they will if you want to make a complaint register this on your behalf, and only then will the complaints team call - "they do not respond in writing".

This I can see is going to be a joke when I eventually do send them a letter. (prob. via Resolve)

[dx100uk]

dont use resolver its useless

 

stick to the tried and test methods that give you a legally traceable papertrail.

 

i'm not sure where you ever got the idea that ringing them anyway would ever provide a resolution..

 

send everything in his name.

you don't need to be his appointed representative.

they have no idea he is not instigating this as long as he signs things.

 

 

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This was the best bit.. they called me, as she gave them my details to act on her behalf.

They rang to ask me different questions.

I only confirmed my Name, they wanted address, phone number, email if I was employed.

 

 

[slick132]

Hi Ads,

 

We haven't forgotten you and we're working on getting you the letter to send to the bank to reclaim the charges properly, and in writing.

 

Please wait for this and don't involve Resolver as they're unlikely to get the result YF deserves.

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Quick question.

As the account is over its limit and in arrears should Tesco be refusing a freeze on the account?

They have just rang my friend and she's panicking.
They've stated she will continue to accrue charges and fees & warrant debt collection & that the terms of the Covid freeze will not allow them to apply a freeze as it would put the account further into arrears?

Surely they should be allowing a freeze on the account under the CONC 7.3?

[Andyorch]

https://www.tescobank.com/customer-forms/payment-break/credit-card

 

If you've missed more than one monthly payment already, please get in touch now on 0345 671 0677 so we can discuss how best to support you.

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I understand the COVID 19, part - and it was them that contacted her and told her she does not qualify for any payment freeze.

Does this mean that the COVID-19 regulation/guidelines now override the FCA's Conc 7.3 advice on forbearance?

[Andyorch]

No not at all...but she does not qualify for a freeze under the Covid 19 payment holiday arrangments.

 

https://www.handbook.fca.org.uk/handbook/CONC/7/3.html