Shas V Barclaycard **Accidental Success!**

[ROBSTER]

Re: Shas V Barclaycard **Accidental Success!**

I sent a preliminary fishing letter out to barclaycard asking for a refund of charges on all accounts I have with them...

I have a bcard with cabot, 1 with moorcroft & a current barclaycard with a £50 limit (my choice)on it-which I use if somewhere doesn't take maestro...

Today I received a letter which only acknowledged the current card I use with them & they are refunding it with £48 + £3.84 @ 8% interest as a gesture of goodwill! They are all of the charges that the account has had

Well done you've got a result as the charges are all less than a year old the 8% is an acceptable amount of interest.

H O W E V E R

All claimants take notice that Barclaycard are offering either a flat rate of 8% as in the above case or a flat rate of "contractual interest" (EG 12%-23%) or just stating that they are refunding contractual interest (not quoting a figure) and putting in an amount (eg £12.19).

Ok if all your charges are less than a year old but scandalously low if your charges go back to say 2003 in some cases the actual contractual interest will be of the order of 10 X what they are offering in a cleverly scribed letter suggesting you are receiving full charges plus contractual interest.

Check what they are offering and do your sums otherwise you may be accepting a lot less than you are likely to get if you progress the case further.:beagle:

[Amethyst]

Re: Shas V Barclaycard **Accidental Success!**

Robster, as you have mentioned this letter a couple times now, would you like to type up or scan in the bit you are referring too, I'm on the same lines as bud that this is simply them repaying the interest they have charged you plus statutory (if applicable).

[ROBSTER]

Re: Shas V Barclaycard **Accidental Success!**

There seems to be 3 standard replies:

a, Charges returned + 8% (as above) so a £48 claim gets £3.84 regardless of the age of the charges.

b, Charges returned + x % (x being 12-25% what they class as contractual interest yet still only applied at a flat rate again with no regard as to the age of the charge).

c, Charges returned + contractual interest (in this case no % rate quoted just an amount £)

what struck me is this is a bit of a "broad brush" approach which may well suit people with "young claims" but the older charges are not really being addressed as they might.


Ill scan a copy of each for tomorrow.

[Amethyst]

Re: Shas V Barclaycard **Accidental Success!**

cheers babe will look forward to seeing them

[ROBSTER]

Re: Shas V Barclaycard **Accidental Success!**

Wait a minute Ill type out the main paragraph!

[ROBSTER]

Re: Shas V Barclaycard **Accidental Success!**

There seems to be 3 standard replies:

a, Charges returned + 8% (as above) so a £48 claim gets £3.84 regardless of the age of the charges.

Shas got that one!

b, Charges returned + x % (x being 12-25% what they class as contractual interest yet still only applied at a flat rate again with no regard as to the age of the charge).

BLAH BLAH BLAH

However as a gesture of goodwill and without admission of Liability Barclaycard are prepared to credit £109.00 and £27.14 interest at 24.9% in full and final settlement of your claim.

blah blah blah



c, Charges returned + contractual interest (in this case no % rate quoted just an amount £)

BLAH BLAH BLAH

However as a gesture of goodwill and without admission of Liability Barclaycard are prepared to credit £64.00 and £14.02 interest in full and final settlement of your claim.

blah blah blah

what struck me is this is a bit of a "broad brush" approach which may well suit people with "young claims" but the older charges are not really being addressed as they might.

Ill scan a copy of each for tomorrow.

As an exmple in the last case there had been a previous partial refund of £172 and £ 13.76 in interest (implying a flat rate of 8%).

Where as the Statutory interest on the charges alone would come out at about £115.

My concern is Barclays are "swinging the lead" here and offering a lazy flat rate if they can "get away with it"....and from the posts on here they seem to be!

[Amethyst]

Re: Shas V Barclaycard **Accidental Success!**

yep, i think you are completely right. This, and Tools', thread are peeps with one or two charges which are quite recent just getting something for one letter which is fair enough. If people had more than a few charges stretching back over years then we'd definately advise going the full route and asking for proper contractual interest as per the Capital One claims.

Its easy enough to write back and dispute their calculations and keep fighting for the rest, entering court claims etc however with these smaller amounts I think people simply think nice and easy little bit extra rather than wanting to take the bank to task. Whether thats right or not I'm not in a position to say..

actually I had a claim against Cap One in 2006 and basically i wrote without having any statements and asked for it back, got a cheque for £100 off one letter and left it at that, happy as larry lol, mainly because I knew there wasnt much and had bigger fish to concentrate my energies on at the time.

Of course with cmc's who only 'earn' from the interest paid out on top of the charges, they'd want it calculating correctly and fighting for as much as they can get. Thats a balancing act between whats best for their clients and whats best for the cmc, as either way the client only gets the actual charges back.

[WendyB]

Re: Shas V Barclaycard **Accidental Success!**

It's like with my MBNA claim, isn't it? When we got the letter saying they were refunding another 880 quid or so, including interest, after we'd already had 146 or whatever it was, to be perfectly honest we were so pleased with the amount, which was basically offered after just a shot in the dark letter and far higher then we were expecting, I wouldn't have cared if the interest was calculated in cloud cuckoo land!!

It's all a question of people's own opinion, and what they are happy with, circumstances at the time, etc.

[ROBSTER]

Re: Shas V Barclaycard **Accidental Success!**

yep, i think you are completely right. This, and Tools', thread are peeps with one or two charges which are quite recent just getting something for one letter which is fair enough. If people had more than a few charges stretching back over years then we'd definately advise going the full route and asking for proper contractual interest as per the Capital One claims.

Its easy enough to write back and dispute their calculations and keep fighting for the rest, entering court claims etc however with these smaller amounts I think people simply think nice and easy little bit extra rather than wanting to take the bank to task. Whether thats right or not I'm not in a position to say..

actually I had a claim against Cap One in 2006 and basically i wrote without having any statements and asked for it back, got a cheque for £100 off one letter and left it at that, happy as larry lol, mainly because I knew there wasnt much and had bigger fish to concentrate my energies on at the time.

Unless (& some might say even if you have) signed a full and final on that settlement a MCOL application will get you back the correct amount of charges + contractual + 8% +costs if you are so inclined.


Of course with cmc's who only 'earn' from the interest paid out on top of the charges, they'd want it calculating correctly and fighting for as much as they can get. Thats a balancing act between whats best for their clients and whats best for the cmc, as either way the client only gets the actual charges back.

[COLOR="rgb(65, 105, 225)"]I agree but I cant think of a better way to ensure that the banks are held FULLY ACCOUNTABLE for their overcharging[/COLOR]