Against the general belief, it is not necessary that the interest of the card be considered as usury to claim. It is enough that some basic conditions are met, as confirmed by the Supreme.
We have been reading news for years and listening to news against credit cards with Revolving payment modality. A condition that allows the user to postpone purchases and fraction them in different phases in exchange for the collection of an extra percentage in interest. The popularity they have achieved, and The lack of knowledge On the part of the users who hire them, it causes many holders of these cards to have encountered situations in which, after a while, the amount that remains to return exceeds the initial payment made.
In recent years, there have been few sentences that have forced credit entities to return the amount charged in interest when considered as usury. In fact, in February 2024 it was The Supreme Court itself the person in charge of establishing what was considered as usury as interest. Now, the OCU has reported that a new sentence confirms that it is not necessary for interest to be excessively high for declare the null contract, It can also be considered as such if it is proven that there is a Lack of transparency.
The supreme demands maximum transparency in marketing
When the user can demonstrate that the credit was not marketed transparently, may request the cancellation of the contract. To do this, two conditions must be met.
The first of these is that it is mandatory that the holder of the contract has all the contract information Before signing it. Both the contract itself and the European Information Document on Consumer Credit must be given prior to the signing of said contract. A situation that, as the OCU states, does not occur in most cases when these cards are hired in shopping centers or in gas stations, for example.
The second condition is that the contract must have the main economic data of the Credit of Revolving. The consumer must know the risks derived from the credit can be renewed automatically or of the high interest rates that each purchase entails. As well as the consequences that the return of a purchase is extended over time.
Since January 2, 2021, this information has to be delivered in each contract signed. However, in Many signed contracts Previously, it was not delivered, so they could claim.
Good news for users
The sentences that have recently failed in favor of the holders of these credits are good news for users, to whom they encourage it to continue claiming to analyze each case in detail.
Now that it is known that not only can you cancel the contracts For abusive interests, but it can also happen in case the hiring has not been carried out transparently, more users will be able to fight to recover the interests paid so far and get rid of the debt.
