Jordy v Capital 1 **WON**

[jordy78]

I have received my S.A.R (month by month statements for a closed capital one credit card from 2001-2003).

 

I want to claim contractual compounded interest on the charges incurred and am using the contractual compounded spreadsheet from 'Vamps Chamber'.

 

But the interest rate (purchase, etc) seems to be missing or left out.. and does not appear anywhere on the pages of my statements.

 

How can I find the correct interest rate that Cap 1 applied at the time of the charges to enter into the spreadsheet?

[glav]

Jordy

 

You could try ringing customer services and asking what rate of interest you were charged on your account. Failing that you could check their website and use current rate of interest for type of card that you had.

 

glav:)

[jordy78]

Thanks for your reply glav.

 

I only had a basic credit card card with a £200 limit back in 2001 which accumulated triple it's credit limit in charges from them.

 

I have contacted Capital 1 Customer Services to ask them what the Interest rate for my card was at the time, but have been told constantly that they do not 'have any information on their systems' regarding my old account.

....And that any information regarding Interest rates would clearly be shown on my statements that I requested in my S.A.R (which they are not)

I've even tried to contact and left message for this Ms Jessica Dubbeld from the Legal Dept, who sent me my statements - no answer!

 

I have also recently requested and received statements for 2 old credit cards I used to have - Egg and Providian (Monument).

These have the monthly Interest rates on each page of statement, clearly shown.

 

I am as to suspicion that Cap 1 have intentionally omitted including their Interest rate at the time of their charges on my recent S.A.R/statements - As to put people off claiming contractual compounded interest for charges levied as far back as 2001-3, in my case.

 

Which makes a big difference in total between statutory 8% interest claimed compared to as much as their current classic card visa.......34%.something.

 

I really need the correct (or near enough) Interest rate to enter into the CCI spreadsheet that I am using.

 

Help much appreciated.

[Curlyben]

I'm in the same boat and I've gone for the current Classic rate of 34.9%.

Seems to be working out so far, well it will when they finally realise that I've moved house.

 

 

Have a look at my Cap1 thread for a fun story.

[jordy78]

So I can go for 34.9% - their 'going rate' for today and enter it into the spreadsheet for their charges applied in 2001....Are you sure?

[Curlyben]

Yep

[jordy78]

I contacted Cap 1 again and finally got from them, the correct purchase interest rates for the card I had with them 6 years ago.

(amazingly my card information for my closed account miraculoulsly was at hand this time around - as I decided to sound a bit pushy with them). I also asked why the interests rates were not on the statements in the first place.

 

I will now press on with inputting these rates into the 'contractual compounded spreaddy' which just border on an annual of 22%.

 

Then next, it will be the prelim letter

[jordy78]

I have worked out and finished my spreadsheet and sent it with my Prelim letter to Ms. J Dubbeld and their Legal Dpt at Cap1... Claiming Contractual Compounded Interest.

 

My basic charges add up to just over £400, but the contractual interest adds on at £800+...at borrowing rate.

(I.e..their purchase rate which they applied to my account and were charging me at the time I had the card with them).

 

 

Jordy

 

Ps..Big thank you Fendyweather.

[jordy78]

I have received a letter from an Ellie Renshaw in response to my Prelim Letter claiming charges plus contractual interest - originally sent to a Ms Jessica Dubbeld.

 

The letter goes on to offer me a 'goodwill gesture payment' of £138.00.

 

 

 

Unless my maths ability has seriously deterioated since schooldays - I calculate this insulting offer at least £1100.00 short of what I requested from them in my Prelim Letter.

 

 

''What a Flaming Liberty''

[glav]

Jordy

 

Time to send LBA, thank them for goodwill gesture and inform them that you will only accept on the clear understanding that it is partial settlement only and you will be pursuing remainder of your claim. Do not sign any form they sent you regards this goodwill offer as this will in effect close your claim.

 

glav:)

[jordy78]

You are absolutely right Glav.

And I will act upon with immediate effect!

 

I find it diabolical how they allow you to borrow from them..and charge you enormously for the privilege of doing so......

 

And yet, when you want your penalty charges back now, and at the same rate at which they charged you...They do not wan't to play, and offer repayment amounts that insult intelligence?

 

 

I have similar claims to start next, with Monument and Egg.

 

I am also, currently involved in a long battle with the 'Nasty NatWest' ...(which seems to have been going on forever) for repayment of bank charges and default removal.

 

http://www.consumeractiongroup.co.uk/forum/natwest-bank/99012-jordy-nastywest.html

 

 

 

In the meantime,

 

''I put it to Cap1, that my boxing gloves are on and ready for the next round''

 

 

Jordy

[ukaviator]

Well done Jordy..Take no prisoners...On your other claim make sure you keep the default removal and charges returned to you, as one package.

 

Uk

[jordy78]

Letter Before Action has been posted 1st Class Recorded Postage to the lovely Miss Ellie of Cap1 - rejecting her 'over generous' goodwill gesture offer.

 

I also added the following to my LBA Template Letter ....

 

 

 

Firstly, I thank you for your recent reply and your offer of a goodwill gesture payment of £138.

Secondly, you would not be able to add this refund to my account to clear any balance outstanding, as it is no longer an active account and has no outstanding balance. The Account has been settled and closed for several years.

Therefore, only a cheque payment for the original amount requested would suffice.

 

In any case, I am rejecting your offer of £138 and will not be returning the settlement form that you requested me to sign and accept.... and at the terms and conditions stated with your offer.

 

 

I guess from now, it's a waiting game?

 

[jordy78]

Apologies for not having updated this thread for a while.

 

 

It appears that the OFT case is having a draining effect on Crappy 1 as well as the other banks and cc companies.

 

They are obviously so pre-occupied with it that they are slacking in their housekeeping and keeping up with current court claims.

.......And especially those claims that were put in before 13th August 2007!

 

 

Received from my local county court........

To the Defendant

 

You have not replied to the claim form.

 

It is therefore ordered that you must pay the claimant £1,325.82 for debt (and interest to date of judgment) and £120.00 for costs.

 

You must pay the claimant a total of £1,445.82 forthwith

 

Warning

If you ignore this order your goods may be removed and sold, or other enforcement proceedings may be taken against you. If this happens further costs will be added. If your circumstances change and you cannot pay, ask at the court office what you can do.

...........What do you think I should put in my shopping basket?

 

 

They will undoubtedly put in for a stay, have they have any sense.

 

Along with the usual waffle about not receiving this n that and on time etc.

Which of course I shall refute and defend rigorously.

And should they have the allocated time left!

 

At the end of the day they dig their own hole for their fate with the judge and courts due to their sloppy antics, time management and abuse of the court system.

 

 

 

Jordy78

[jordy78]

Hi everyone

 

We've just got home after a fantastic evening watching the superb firework display at Clapham Common and a few beers and a meal afterwards.

 

Cap1 have sent us a cheque for £1,445.82.

 

Finally, after all this time pursuing this claim with them!

 

 

There is no covering letter accompanying the cheque, which normally arrives with the usual non liability declaration and terms and conditions of offer from the Defendant etc.

 

The cheque is just attached to a remittance slip.

 

 

 

However, it shall go tommorrow morning where most cheques are destined to go............

 

IN THE BANK!

[Curlyben]

[Lula]

Excellent, Jolly Well Done

[jordy78]

Thanks Lula and Curlyben.

 

Your help and support is fab and is what keeps this site going.

 

Way to go!

 

 

Me and the wife are so happy.....we're almost in tears.

 

Can now afford and treat our babies each a special present this xmas!

 

 

Jordy

[ukaviator]

Great news. .well done