CB Vs LTSB Platinum Card

[Happyolddog]

Re: CB Vs LTSB Platinum Card

Why are you not card tarting?

I switch my balance from card to card every 12 months to get 0% int for 12 months then do another switch.

[Curlyben]

Re: CB Vs LTSB Platinum Card

HOD, hmm let me think, oh yeah might have something to do with the 22 DCA's I have been having fun with.
I'm a lazy a$$ and haven't done anything about my CRA reports, as yet

I really wanted LTSB to admit that was the reasoning behind the increase as this would give me much needed ammo for my fight with the CRA's

[jax007]

Re: CB Vs LTSB Platinum Card

ditto

[Curlyben]

Re: CB Vs LTSB Platinum Card

Well letter all sent last monday, just waiting for their response now.

Dear Plank,

ACCOUNT NUMBER: xxxx xxxx xxxx xxxx

Thank you for your letter of 15th May the contents of which are noted. I must apologise for my delay in responding sooner.

I am concerned that no attempt has been made to answer the questions that I have posed. I enclose a copy of my previous letter for clarification and ease of reference.

I request, again, clarification concerning the methodology employed when calculating interest rates for accounts of this type.

As an addition I would also like an explanation why monthly interest is applied to my account in two, or more, distinct applications. I monitor my accounts online and I have noted this occurrence over the last few months. The interest eventually is recorded as a single transaction, but it clearly isn't applied as such.

I am disheartened to note in the response to my initial communication, the apparent disregard for the Office of Fair Trading's Unfair Terms in Consumer Credit Regulations (UTCCR) section 5.

You comments "I can confirm that it is not possible to change the APR of this credit card back to its previous rate." and "the T&C of your credit card are not individually negotiable and, while we do not want to lose your valued business, if your account remains open, it will be deemed that you accept the new rate of interest." clearly are at odds with these regulations.

For clarity UTCCR section 5 (1) and (2) state:
5. - (1) A contractual term which has not been individually negotiated shall be regarded as unfair if, contrary to the requirement of good faith, it causes a significant imbalance in the parties' rights and obligations arising under the contract, to the detriment of the consumer.

(2) A term shall always be regarded as not having been individually negotiated where it has been drafted in advance and the consumer has therefore not been able to influence the substance of the term.

While we are dealing with account matters I would like to request a copy of the signed executed credit agreement, and Terms and Conditions that apply, as is my right under the Consumer Credit Act 1974 section 78(1). I enclose the statutory ONE POUND fee for this request.

I would hope that some common ground can be found to continue this discussion in a balanced and professional manner, rather than simply responding with template letters and vague statements.

If this matter is not resolved to my satisfaction I shall no alternative but to refer to the Financial Ombudsman Service and the Office of Fair trading.

I look forward to your detailed response.

Now I'm not going to follow the prescribed CCA time limits on this, but I have no qualms reminding them of them

[Curlyben]

Re: CB Vs LTSB Platinum Card

Well I got a response, of sorts.
Basically the same as the previous one, completely failing to answer any of my questions.

Mind you saying that my APR has been reduced, so I have no idea what they are playing at.
Time for an LBA otherwise it will be off to the FOS, etc for resolution.

[Curlyben]

Re: CB Vs LTSB Platinum Card

Right then I've been thinking about this and it's time for a slight change of plan.

As can be seen LTSB obviously aren't going to answer my questions at all, simply fob me off with more glib statements and almost pleasantries.

So onwards, I'm going to approach this from the direction of UTCCR s5 and CCA06 s19 and see were that'll get me.

5. - (1) A contractual term which has not been individually negotiated shall be regarded as unfair if, contrary to the requirement of good faith, it causes a significant imbalance in the parties' rights and obligations arising under the contract, to the detriment of the consumer.

(2) A term shall always be regarded as not having been individually negotiated where it has been drafted in advance and the consumer has therefore not been able to influence the substance of the term.

(3) Notwithstanding that a specific term or certain aspects of it in a contract has been individually negotiated, these Regulations shall apply to the rest of a contract if an overall assessment of it indicates that it is a pre-formulated standard contract.

(4) It shall be for any seller or supplier who claims that a term was individually negotiated to show that it was.

(5) Schedule 2 to these Regulations contains an indicative and non-exhaustive list of the terms which may be regarded as unfair.
Unfair Terms in Consumer Contracts Regulations 1994

AND

“Unfair relationships
140A Unfair relationships between creditors and debtors

(1) The court may make an order under section 140B in connection with a credit agreement if it determines that the relationship between the creditor and the debtor arising out of the agreement (or the agreement taken with any related agreement) is unfair to the debtor because of one or more of the following—

(a) any of the terms of the agreement or of any related agreement;

(b) the way in which the creditor has exercised or enforced any of his rights under the agreement or any related agreement;

(c) any other thing done (or not done) by, or on behalf of, the creditor (either before or after the making of the agreement or any related agreement).

(2) In deciding whether to make a determination under this section the court shall have regard to all matters it thinks relevant (including matters relating to the creditor and matters relating to the debtor).

(3) For the purposes of this section the court shall (except to the extent that it is not appropriate to do so) treat anything done (or not done) by, or on behalf of, or in relation to, an associate or a former associate of the creditor as if done (or not done) by, or on behalf of, or in relation to, the creditor.

(4) A determination may be made under this section in relation to a relationship notwithstanding that the relationship may have ended.

(5) An order under section 140B shall not be made in connection with a credit agreement which is an exempt agreement by virtue of section 16(6C).”
Consumer Credit Act 2006 (c. 14)

Time to give TS a bell and get some advice here.
Now admittedly they might not have a clue what I'm asking, but least they should be able to help.

So comments, if any ?

[Curlyben]

Re: CB Vs LTSB Platinum Card

Right then just got off the phone with Consumer Direct and have been advised to contact FOS and FSA.

So me thinks LTSB are in for some fun here

[Curlyben]

Re: CB Vs LTSB Platinum Card

Chocolate fecking tea pots !!!!

[Curlyben]

Re: CB Vs LTSB Platinum Card

So I've let this lie for a while and only been paying the minimum amounts on the card.

After reading this piece BBC NEWS | Business | Credit card fairness deal struck and more specifically this quote

The government says anyone who believes a previous rate rise was unfair should take their case to the Financial Services Ombudsman Service which can order compensation to be paid if the increase was unjustified.

I've decided to take this to the FOS.

We'll see what happens now then.
I might even include the charges with this was well, but who knows.

[fightthegood fight]

Re: CB Vs LTSB Platinum Card

Interested in this one as I am about to start going through a similar process. Will watch with interest.

[jax007]

Re: CB Vs LTSB Platinum Card

Very interesting this one Ben - are you writing to FOS or phoning?

If writing - be interested in sight of your letter.

Best of luck with it - I shall be following very closely on your heels!!

jax

[Curlyben]

Re: CB Vs LTSB Platinum Card

Oh writing of course.
They where less than helpful when I called back in July.
After all I have some support documents to send with it

[jax007]

Re: CB Vs LTSB Platinum Card

So I guess the first step in this process will be to write to each CC company and ask them why they have increased the rate vis a vis your original letter and follow through as you have with letters depending on responses received.

jax:santa2:

[Curlyben]

Re: CB Vs LTSB Platinum Card

An interesting letter arrived this morning for this account.
Now I''m in the process of getting my FOS complaint together, but I might hold fire after this:

Dear Mr CB,
At LTSB we are committed to treating customers fairly and by regularly checking accounts we can look to save you money or make life a little easier.

We can see that the due date for your normal monthly credit card minimum payment does not fit in with when your regular wage or salary is received and, to help we have changed the date so that your future statements will now be sent around day 7 of the month and payment will now be due on or around day 1. If this is not convient for you please let us know and we will change it.



Blah blah crud about DD.

Yours
Squiggle

Now, my question is, why didn't they do this several years ago when I requested it.

Oh yeah I remember it's cos they are money grabbing SoB's and I was fobbed off by the Indian call centre saying it wasn't possible.

So, time for a letter back requesting the return of all of the late fees due to this, apparent, oversight on their part.

[Curlyben]

Re: CB Vs LTSB Platinum Card

So response going back to them..

Dear Blah,

Thank you for you recent letter of DATE, you action is most appreciated.

It's a shame that this couldn't of happened several years ago when I requested the same from your off shore call centre, only to be told that it wasn't possible.

With that in mind I would like to request a return of all of the automated late payment and associated over limit charges applied to this account.

The total of which is £XXX.xx.
I enclose a breakdown of these charges.

I will give you 14 days to reply to me accepting, unconditionally, my request in principle and letting me know a date by which I will receive the refund.

I also believe that these automated charges have resulted in the accounts APR being increased to the current, unacceptable level.

I wish to request a full review of this account and an explanation into the methodology used in determining the increase in APr.

If you do not respond, or you do not respond positively, within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that these targets are more than sufficient for a large company such as yours with dedicated staff and departments.

After that, there will be no further communication from me and I shall raise a formal complaint with the Financial Ombudsman service at the expiry of the second deadline.

I would appreciate your due diligence in this matter.


Yours faithfully,

That might do something, but I bet I get another fob off.