Revolving cards are a type of credit card that allows deferring and splitting the payment of the amount owed in monthly installments that generate interest. The big difference with an ordinary credit card is that these are limited (generally) to debiting the account for the amount owed on a monthly basis without the possibility of splitting the payment of the amount of credit drawn down.
The particularity of revolving cards is that, in many cases, they charge their users abusive interest rates that usually exceed 20%, which in practice has led to situations in which the customer owes more and more money despite regularly paying his installment because he continues to use the card up to the limit of the capital granted.
The Courts have ruled in numerous judgments on the abusive nature of the interest rates applied by many of the companies that market revolving cards, provided that they are higher than 20%, although without establishing a specific limit above which interest is considered abusive.
The basis of the claim is found in the Law of July 23, 1908 on the nullity of usurious loan contracts, also known as the “Azcárate Law”, according to which the nullity of the loan contract and the reimbursement of the amounts overpaid on the capital drawn down as interest can be requested.
Among the revolving cards that usually charge such high interest rates are the following: Wizink, Barclays, Bankinter, Alcampo, Carrefour Pass or Cetelem.
Portillo Estudio Legal offers you the possibility of analyzing, without any obligation, the documentation related to your credit card contract in order to assess the legal feasibility of the legal actions to be taken.
Do not hesitate and contact us to claim against the issuer of your credit card and request the nullity of your contract as well as the recovery of the amounts paid for abusive interests.
