Revolving cards are cards that work as microcredits in which the bank applies abusive interest rates of more than 20% APR. As these interests are abusive, the bank must return the interest that has been overcharged.
Revolving cards are credit cards that offer the customer the possibility of making purchases, withdrawing money, using money that is not owned because it is financed.
With all the purchases we make with this type of card, we can defer payment. The debts of these cards can be paid through a monthly fee or by a percentage of it. Apparently this is their main advantage since they are paid in installments and you decide how much you want to pay periodically. The form of contracting these cards is either online, by telephone or in the entities in which it is offered. All with applied interest. Debts can be paid through a monthly fee or through a percentage of it. Although the truth is that they work as microcredits and most of them apply abusive interests of more than 20% APR (which is much higher than those registered by the Bank of Spain for personal loans).
By virtue of the jurisprudence established by the Supreme Court, it considers that revolving cards violate the provisions of the Law of June 23, 1908 on the repression of Usury, so paying more than 20% interest is a reason for usury and they are qualified as null.
WHAT CAN I CLAIM AND WHAT DOCUMENTATION I NEED?
In the case of having a revolving card, you can claim for the nullity of the contract for these cards and request the return of any interest paid in excess.
The situation may arise that the money you have paid is more than what has been loaned to you, in this case you can judicially claim the nullity of the contract and the excess capital plus interest, insurance and commissions that have been charged to you.
It may be the case that you still have not paid what you borrowed in this case you can judicially claim the nullity of the card contract and the return of interest, insurance and commissions; and pay the financial entities the borrowed capital that you have left to pay.
For this, both receipts or settlements will be necessary, which are received either by mail or through the online banking platform, in addition, the card contract will be necessary. In case you do not have them, we will help you to get them.
HOW TO CLAIM?
To be able to claim in the first place, we must file a claim with the entity in which that revolving card has been contracted. For a prior claim to the entity to be recorded, this claim should be recommended by email or burofax with acknowledgment of receipt, once received the bank will have two months to respond. In the event that you answer negatively or do not respond within that period, the judicial claim will remain.
DAMATOABOGADOS has expert lawyers in banking law, specialized in claims of this type. Get in touch with DAMATOABOGADOS without obligation, we will study your case and in 48 hours we will give you a well-founded answer about the viability of your claim and a personalized budget.