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I had a NatWest Credit card since 2003, also a Royal Bank of Scotland Credit card from the same time. In 2009 I was made redundant from my job of 25 years. I could not afford any further payments to both cards (and other creditors).
These debts for NatWest and RBS (same company) total about £2,900 but have been statute barred for many years.
Due to a ‘internal processing error’ NatWest have been reporting missed payments on my credit file, every month for many years. Therefore my credit score with the different agencies has been poor or very poor for a very long time. This has resulted in me paying high interest rates on credit cards (46% on one card), not able to get a loan with a decent rate, not able to get a credit card with low interest rate, not been able to obtain credit for goods, or for holidays, or to give my children money for important Birthdays.
This ‘internal error’ by NatWest has seriously impacted my credit over the past Ten years or so. In a letter they sent to me, NatWest have sincerely apologised and by way of an apology they will credit my bank account with £500 (plus write the statute barred debts off).
Since NatWest have removed the report from my credit file, my credit score has now gone up to 866 on CheckMyFile. This is an excellent credit score and I would now be offered low interest rates if applying for a credit card or loan.
I feel this is a very serious error by NatWest and would like advice on whether I should take this further and claim a lot more by way of compensation.
Any advice would be greatly appreciated, thanks in advance.
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