Credit Card Missselling | Welcome

Credit Card Missselling

Do you think that you may have been a victim of credit card missselling? In that case, you should make a credit card missselling compensation claim. Nowadays, almost everyone has one or more credit cards. No financial product has ever been as popular as credit cards. However, one major risk associated with credit cards is credit card missselling.

A credit card just like other types of credit contracts are subject to the Consumer Credit Act as well as fair dealing. A lender should comply with the conditions of the act when providing the credit or else the amassed debt on such a contract could be deemed as flawed, unenforceable or invalid.
 
The basic conditions of the Consumer Credit Act entail that the lender should clearly mention the interest being charged, promote the credit without any misleading or false ads, mention any variables concerning the interest being charged, clearly mention the credit limit, provide details of the cooling off process, provide information on relevant charges and penalties for surpassing credit limits or missed payments and show how the borrower will repay the amount. If the lender doesn’t comply with any of these conditions, it means you have been a victim of credit card missselling.

In case your credit card debt has been deemed as invalid or unenforceable, it implies that the lender won’t have any legal justification to enforce that debt. As a result, you could be entitled to receive financial compensation. You could also ask your entire balance to be written off, since an unenforceable deal won’t give the lender any valid justification to claim repayment.
 
A common form of credit card missselling has to do with PPI or Payment Protection Insurance. In most cases, when you receive a credit card, you are sold a PPI as well. This type of insurance is basically meant to be a protection for you in cases whereby there is a sudden decline in your income, so that you can still pay the monthly charges. However, the missselling of PPI has become a common practice these days. This is when the lender persuades you to buy an insurance policy that is not suitable for you or when you are not even informed in advance that you will have to pay for PPI cover. If you think that you have been a victim of PPI missselling by the company from which you bought your credit card, you may apply for credit card missselling compensation.

Apart from PPI missselling, there are many other forms of credit card missselling that you should be aware of. You may be a victim of credit card missselling if you were sold a travel insurance cover when it was not requested by you or if your credit limit was increased without you asking for it. Credit card missselling also occurs when you are offered additional credit without asking for it. These are all serious cases of credit card missselling and if any of these are relevant to you, you are entitled to receive compensation or apply for the cancellation of the credit card.

Being sold a credit card.

There are many companies that sell credit cards that hide certain amounts of their terms and conditions to make you purchase additional insurances designed to protect you from changes to your financial circumstances.