Electric Lemon V Capital One!!

[lyns]

Yes you should! I have gone above him now to mr daly!! I have a telephone number to the executive number if anyone is interested pm me!

[Paintball]

Hi Lemony

 

Well thank goodness you did it (big virtual hug). Send off your prelim and don't forget to do it by registered post.

 

P

[brownie24]

Hi electric lemon

 

My brain is also feeling totally frazzled after trying to get my head around this contractural interest thingy.

 

What spreadsheet did you finally master and are you claiming compunded contractural interest?

 

Cheers

 

Brownie24:)

[electric lemon]

Hi Brownie,

 

Its awful to begin with & I totally empathise with you!!

 

Go to Vampiress's Chambers.

 

I then selected spreadsheet no 2

 

Then go to file & select copy spreadsheet. Save it as whatever you want to title it as & then hurray you should have an almost blank spready ready to go.

 

Change the interest to what you want it to be. Type in your bank/CC details & off you go.

 

HOWEVER........Take heed my friend!

 

Do NOT DELETE on there!!!

 

You must only type over the figures. If you start deleting etc the flamin thing will come up with all sorts of peculiar stuff!!

 

It automatically saves as you work.

 

When you want to stop or take a break or get off your computer just log out/switch off as normal.

 

Then when you want to locate your spready again - Go to google.

Type in ...google docs & spreadsheets. Select the 2nd one down that says google spreadys etc, & there you will find your previous work!!

 

This might seem like a funny way to get there, but it worked for me!!

 

Good Luck brownie - let me know how you got on!

 

Oh & I claimed at 34.9% the current rate on the classic capital one credit card, however I believe Lyns had notigication that they are only looking to pay at the purchase interest rate which I think is at 2.248%. (then x this by twelve, as in months & you have the rate at 26.97%.

But its up to you!

[brownie24]

Hi Electric lemon

 

Thanks for this, I was going to use spreadsheet no.13 - as this is for credit cards and I thought no. 2 was for banks - do you know if there is any difference?

 

Initially I had looked at no.16 but this was far too advanced for little old me and left me in need of a drink or two!!! but due the fact that i'm 6 months preggers I had to settle for a cuppa instead!

 

Seems like I'm nearly at the same stage as you so I will be watching your posts closely.

 

Good luck

 

Brownie & Bump:)

[ukaviator]

I believe No 2 was for banks. The interest rate worked out using the calculator, at the rate of 2.248% comes out at 30.57%....not 26.97%

 

It does'nt matter what they are looking to pay, they should refund you the amount they have charged you. If it's 34.9% then that's what they owe. I would'nt negotiate the rate if you have proof that is the rate they have added to your charges..

 

Uk

[chloecharm]

Glad I found you... I think I tracked you from Barclaycard.

 

Anyway I'm doing the spreadsheet bit and have put all my info into number 13 and....

on £999 of charges the CCI comes out at £1242.14 - surely this cant be right?

 

Used APR of 27.87% (very kindly supplied by Capital One in todays post!)

 

Charges go back to 2001

 

Any ideas

[Paintball]

I just did a little test on that spready with the info you provided and then with my own CCI percentage and charge dates (started Aug 2004).

 

The figures you've arrived at will be correct as it's the length of time the charges go back to (2001) that make the figure high; the contractual interest is compounded over a period of time and yours are over a longer period ...

 

I hope this makes sense

[electric lemon]

Oh Blimey,

 

Now Im getting anxious again - Gulp!!

Oooooooooooooooooooooooh Nooooooooooooooooooooo!

 

Having read the above last couple of posts I am now wondering if I did do things 100% right??

 

It looks right & I got the interest rate off Capital ones website but now I am wondering if I shouldnt have used spready no 2?

 

After all those headaches & hardships & late nights!!

 

Too late now though as the claim has gone off & will be sitting on good old Mr Udy's desk as we speak!

 

I am off to look again!!!

[electric lemon]

PHEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEW!

 

I just checked & am VERY HAPPY TO REPORT that it doesnt matter whether you use spready No'2 OR spready no'13 - the outcome is exactly the same!!

 

Both spreadys come out with exactly the same results, totals, interest etc AND AM I RELIEVED!!!!!!!!!!!!!!!!!!!!

 

I couldnt take doing another Capital one like that again!!!!

 

Just have to wait now!

 

However, I am expecting them to lower my limit or really, I'm expecting them to cancel my card due to that fact that they will see what Im doing as an absoloute cheek, with the CCI.

 

Can anyone else confirm that they get Sh1**y???

[Paintball]

Hi Lemony

 

Please don't panic. You used the spready (no 2) with your own interest rate (I used 30%) and I can't see Cap One suddenly challenging this. There are a couple of others on this sub-fourum who are using the same rate as you ...

 

[Paintball]

I used Vamp's number 2 and have also tested 5, 13, 16, Excel version of 16 ... The results are all the same. The only difference I can detect is the level of information contained within some spreadies...

[ukaviator]

PHEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEW!

 

I just checked & am VERY HAPPY TO REPORT that it doesnt matter whether you use spready No'2 OR spready no'13 - the outcome is exactly the same!!

 

Both spreadys come out with exactly the same results, totals, interest etc AND AM I RELIEVED!!!!!!!!!!!!!!!!!!!!

 

I couldnt take doing another Capital one like that again!!!!

 

Just have to wait now!

 

However, I am expecting them to lower my limit or really, I'm expecting them to cancel my card due to that fact that they will see what Im doing as an absoloute cheek, with the CCI.

 

Can anyone else confirm that they get Sh1**y???

 

They normally send you a snotty letter after they have paid out saying that if you don't like our charges, close your account type thing.

 

A few months later the interest rate goes up by 2%. . if you can close the account i would do that. Remember the annual fee though, as they will automatically charge this.

[lyns]

I had a letter a couple of days ago advising me that my apr would go up to 33% WTF!!! Good job I have no balance eh? Nasty beggers Capital One!

[ukaviator]

My advice, if you don't need the thing, then close the account. There are better offers out there. .

[Paintball]

FWIW I closed my account with Cap One after I'd paid off the balance for a number of reasons:

 

1. As I was paying off the balance over the phone after my lovely Coop Bank win ( ), I asked if any other amounts (ie interest) would be applied to the ac/ and was told definitely no as the balance was now £0.

 

2. A month later I received a statement with interest added!!! I called Cap One and played merry hell with them, repeating what I'd been told earlier and refusing to pay.

 

3. I read on here that payments are often made as credits onto the a/c and to avoid this, decided to close the a/c.

 

4. I refuse to do business with ANY credit card company. If I haven't got the funds available in my bank a/c, then I can't have whatever it is that I think I may want. Simple.

 

Rant over folks. It's a grand life if you don't weaken.

[electric lemon]

Oh my Gawsh!

 

What a flamin cheek!

 

I know PB & Aviator - what you're saying is sooooo true. Husband HATES CC's with a vengeance & I cant bear the extortionate % rates.

 

However, I always feel safer if we have a cc in case of emergencies. i.e. If it was the end of the month when finances are tight & the car failed the MOT or washing machine blew up & we were desperate. Its a safety net.

 

I am not bothered about Capital One paying the claim money into my account as I want it paid off & the claim would do this. Though I am horrified to see that they then may tell me the % rate has gone up etc, etc.

 

But then again if it was kept for emergencies it would be up to us to discipline ourslves to pay it all off as soon as we got paid.

 

Im saying all this, but Cap 1 will probably take the decision away from me & Ill get a letter after the claim is successful with them telling me that they are closing the account!!!!!!

 

:D

[Paintball]

Oh my Gawsh!

 

Im saying all this, but Cap 1 will probably take the decision away from me & Ill get a letter after the claim is successful with them telling me that they are closing the account!!!!!!

 

:D

 

Haha! That would be their loss!!!

[electric lemon]

Thanks Paintball!

 

Im on the edge of my seat regarding the post at the moment!

 

Both husband & I are.Its like we're kids! First thing we ask when we speak to/see each other is.....Any post??!!!!!

 

At present we are:

 

- Waiting for Court date from Barclays for Husbands £4400

- Waiting for Court date from Barclays for joint £2900

- Waiting for Defence to be filed (coz they will!) from Barclays for my £6800

- Waiting for Capital One to make an offer on £901

- Waiting for Barclays to make offer for £215 from my forgotten old account

 

So, as you can see alot of waiting, waiting, waiting, waiting & waiting!!

 

I'm almost biting off the poor postmans hand everytime he comes to our house!!

[electric lemon]

Hmmmmmmmmmmmmmmm???

 

Not too sure that I had the interest right??

 

I can hear you all groaning!!!!!!

 

How come everyone elses amounts with CCI appear to be almost double/more than double than mine??? (rubs chin!).

 

Doesnt seem quite right?

 

Love,

A worried little electric lemon tonight:confused:

[doo]

electric lemon, what is your charge amount and how much does your contractual interest amount to? I'm sure you are just getting edgy while you wait for your claim to be settled.

[electric lemon]

Hi there Doo,

 

Hope you're right!

 

The claim is for £612 @ 34.9% CCI Totalling £900.54.

 

Its just that others Ive seen, appear much higher.

 

Going by others my amount should be more like £1300 or the like.

 

Its just a little worrying as you can see.

 

Am petrified of puuting a foot wrong & consequently screwing up my claim.

[doo]

Have just started my brothers claim and his charges are around that amount, just slightly more and his CCI comes to around £300 so I think your figures look fine, don't forget it does also depend on how old your charges are, the older they are the more interest you get so there is no hard and fast rule here, everyone's claim will differ accordingly. You will be fine.

[Paintball]

Hmmmmmmmmmmmmmmm???

 

Not too sure that I had the interest right??

 

I can hear you all groaning!!!!!!

 

How come everyone elses amounts with CCI appear to be almost double/more than double than mine??? (rubs chin!).

 

Doesnt seem quite right?

 

Love,

A worried little electric lemon tonight:confused:

 

Hi Lemony

It's the length of time the charges are compounded over that makes the difference. My charges are £820 and the interest (30%) is compounded from Aug 2004 to Jan 2007. Other peoples' charges go back much further, so say, 2000, which makes the interest on each charge higher than mine ... When do your charges begin and end?

[electric lemon]

Hi Doo,

 

 

Aaaaaah, another tense stressful moment releived by the gentle advice of one that knows!!!

 

Thank goodness that seems to be right then.

 

Thank you for allaying my fears!:o