Reclaim Credit Card Charges
Average amount reclaimed for each credit card account claim : £545.00
Have you got credit cards, or have you had credit cards in the past 6 years? If so and you have been charged for exceeding your credit limit or making late payments you could make a claim for unfair credit card charges.
CLAIMBACK Today are able to negotiate with the credit card companies, taking them to court if necessary, and reclaim your charges.
What are Credit Card Charges
When you sign an agreement to take out a credit card you are entering into a contract with the credit card company. If you exceed your credit limit or make a payment late you are effectively breaching that contract. This means that the credit card company has a right to reclaim from you the losses it has incurred due to your breach of contract.
Unfair Credit Card Charges
The amount the credit card company charges you for this breach of contract must be proportionate to what the cost has been to them.
However this has not been the case, and in April 2006 the Office of Fair Trading (OFT) published a report stating that credit card charges have been set at a significantly higher level than is legally fair.
The OFT went on to set a new maximum of £12 for all credit card charges. This amount has been criticised for still being a higher amount than the costs the credit card companies incur, but it has now been accepted and is being implemented by credit card companies.
This means that you can make a claim for unfair credit card charges exceeding £12. This limit applies to all credit card charges across the board including; charges for exceeding your credit limit, late payment charges, returned payments and bounced credit card cheques.
It is worth making a claim for all charges you have incurred for each credit card you have had in the past 6 years. Even if you have now closed your credit card account you can still make a claim for unfair charges going back 6 years.
