Claims for Excessive Credit Cards Charges

Excessive Credit Card Charges Claims

Many people have fallen victim of banks and credit card companies charging excessive amounts for:

• Making late payments
• Exceeding credit limits
• Returned payments

However, because of a ruling by the Office of Fair Trading, it is possible to reclaim unfair credit card charges.

Following the ruling, many credit card companies reduced their charges significantly, but some companies claim to still be able to recover these charges.

What Credit Card Charges can you reclaim?

You can reclaim credit card charges from the last 6 years (or 5 for those in Scotland).

How much will it cost you to Claim?

Typically, credit card claims companies charge a fee based on a percentage of the amount recovered, e.g. 25%, subject to a minimum fee, e.g. £75.

These charges are often on a ‘No Win No Fee’ arrangement, therefore it will not cost you anything if you make an unsuccessful claim.

How long does a credit card charges claim take?

The credit card company must respond to a claim within 8 weeks.  The response may be a final response, or a letter stating that they require more time.