Credit Card Charges
If you have paid default charges to your Credit Card or Store Card provider then we can make a claim on your behalf to get this money back, with interest.
What We Can Do For You?
- Recover credit card default charges plus interest dating back back six years across all your credit card accounts.
- Recover charges on active credit cards with or without a balance, as well as cards you may no longer have or use.
- Make a claim when the credit card balance is with a debt management company.
The Office of Fair Trading conducted an investigation into Credit Card charges in 2006. The OFT's research showed that:
"Credit card default charges have generally been set at a significantly higher level than is legally fair"
The OFT estimates that this has led to consumers being charged in excess of £300 million a year in unlawful penalty charges.
Unlawful credit card charges on standard credit card and store card contracts generally relate to charges for:
- Failing to pay a minimum payment on the due date
- Exceeding a credit limit
- Failing to honour a payment made.
A fair default charges should not exceed a reasonable estimate of the administrative costs a credit card issuer would expect to incur. Where credit card default charges are set at more than £12,
the OFT will presume that they are unfair.