Lawyers Against Revolving Credit Cards

Contacta ahora con un abogado especialista en tarjetas revolving y reclama tu indemnización.

There is a great deal of talk about revolving credit cards.

▸What are the revolving credit cards?

Taken from the English verb ‘to revolve’, the Bank of Spain defines these credit cards as ‘a line of credit renewed automatically when due monthly, therefore it is a revolving credit comparable to a permanent line of credit.’

These products, now issued by many banking institutions, have a credit limit that decreases with every transaction and allows payments for each purchase to be postponed. As the debt on borrowed money is repaid, the same amount becomes available on the card to be spent once more.

Claims against revolving credit cards increased considerably during the past year as the Supreme Court found interest rates on these products extortionate during a 2015 claim. Ever since, jurisprudence has repeatedly declared them null for extortionate moneylending.

Claiming abusive interests

When claiming, law firm Sanahuja Miranda relies on lawyers specialised in revolving credit cards. Over the past years, we have won around 300 cases against financial institutions which translates into over 3 million euros recovered for our clients.

Reclamación de tarjetas revolving

The majority of revolving credit cards are abusive and liable against complaints. No issues usually arise if full payment is chosen. The problem comes when paying in instalments, as interest rates can rise up to 27% which is an extortionate interest rates as pronounced by the Supreme Court, making these credit cards abusive.

▸How to know if a card is revolving type?

You must pay attention to the following to know if your credit card is revolving and allows for abusive interest rates to be claimed: regular credit cards allow clients to pay expenses during the month via a loan that must be settled the following month, revolving credit cards postpone the debt, dividing it into monthly instalments with excessively high interest rates.

Shops such as Carrefour or Ikea, and petrol stations such as Cepsa or Repsol have their own revolving credit cards connected to banking institutions. The most notorious one is probably WiZink. The Supreme Court found their interest rate null as initial APR was at 26.8%. It is possible to claim interest rates against WiZink.

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Denunciar tarjetas revolving

Once a credit card is identified as abusive, i.e. when interest rates are excessive and disproportionate in comparison to the regular 20% APR, a claim can be filed against the card.

Due to the Supreme Court’s ruling, clients who used revolving credit cards with too high interest rates can request the amounts paid until the moment the claim was filed.

How to report a revolving card?

Cada caso concreto tiene sus peculiaridades, por lo que es siempre recomendable apoyarse de expertos y profesionales que puedan garantizar el reembolso de los intereses abusivos aplicados:

Collect evidence

El primer paso a tomar es la recopilación de cualquier prueba que pueda avalar los pagos efectuados a la entidad, como son el contrato firmado con el banco y un extracto en el que aparezcan todos los movimientos de la tarjeta, así como el TAE aplicado.

Customer refund

Una vez lista la documentación se ha de pedir a la propia entidad bancaria de la tarjeta revolving que reembolse las cantidades al cliente vía declaración de nulidad de la tarjeta por ser los intereses usureros, así como por incumplimiento del principio de transparencia e incorporación.

Judicial claim

If the entity refuses, legal proceedings should be started which generally means positive results for consumers.

Abogados tarjetas revolving

The best way to guarantee claims against these abusive credit cards is by contacting lawyers specialised in revolving credit cards.

Sanahuja Miranda will accompany you during the entire process to guarantee the banking institution returns in full the abusive accrued interest.

Lawyers specializing in revolving cards

Our law firm relies on the best revolving credit card lawyers in Barcelona and Madrid, as proven by the number of cases won during the past years.

Despite the pandemic, Sanahuja Miranda has won around 300 cases against financial institutions. Over 3 million euros have been recovered for our clients by filing claims against revolving credit card agreements.

Tarjetas de crédito abusivas

Financial institutions took advantage of thousands of clients for a long time. But now, after clear jurisprudence on this matter, courts are ruling en masse in favour of clients for 2 reasons: understandable and plain wording is not used in clauses as well as excessively high interest rates.