How do I calculate credit card Ppi refunds?

[Meadows]

Hi, today I've received a letter from my bank to say my Ppi complaint has been upheld and they'll be in touch within 8 weeks with an offer. I have no idea how to go about determining what a suitable offer would be. Can anybody help. I've had he card for 15 years, the apr is 24%, the Ppi is 80p per £100 and I think my average balance will have been around 2200. Can anybody advise? Thanks in advance.

[EXC]

Re: How do I calculate credit card Ppi refunds?

I'll give [MENTION=189]Turboman[/MENTION] a shout for you.

[Meadows]

Re: How do I calculate credit card Ppi refunds?

Thank you x

[Turboman]

Re: How do I calculate credit card Ppi refunds?

HiWill look this evening..how many statements have you?

[Meadows]

Re: How do I calculate credit card Ppi refunds?

I've just been through the box with them in and have most, there's some that I can't find (will that be a problem?). I've created an Excel spreadsheet with the info. Is it possible to attach it to here?

[Meadows]

Re: How do I calculate credit card Ppi refunds?

Think I've managed it

[Turboman]

Re: How do I calculate credit card Ppi refunds?

Brilliant--can you add another column:

Opening Balance & Closing Balance (not sure which you have entered?)
Interest Actually Charged that Month

Turbs

[Meadows]

Re: How do I calculate credit card Ppi refunds?

Thank you so much. I've updated in this version

[Turboman]

Re: How do I calculate credit card Ppi refunds?

Which bank?

[Meadows]

Re: How do I calculate credit card Ppi refunds?

Hi, it's RBS.

[Meadows]

Re: How do I calculate credit card Ppi refunds?

Hi

I've received the following offer today but every time I put my figures into a spreadsheet or online calculator I get different answers (although RBS have estimated 2 years as they no longer have statements). Can anybody confirm if this looks reasonable? The PPI amount does seem roughly correct, it is the interest I'm not sure on.

Total PPI Premiums paid (July 2001 - August 2016) £3133.49
Compound interest based on interest rate charge on CC £5353.95
Refund of erroneous fees between 2004 and 2015 £ 488.00
Compound interest on erroneous fees £ 2.28
Total Refund Due £ 8977.72
Gross Interest at FOS rate £ 2480.11
Less tax @ 20% £ 496.02-
Total offer £10961.81