Can interest on credit cards be claimed back?

Blue_Diamond

Hi,

I am not sure if Interest on credit cards can be claimed back?

I am aware that late payment and overdrawn charges can be reclaimed, but not sure on interest...anyone know? Thanks

nomoneytoday

errrr, no

Please can you lend me £1,000,000 interest free ?

Blue_Diamond

haha!!! I would love to if I could!!!

Blue_Diamond

When I reclaimed my bank charges, I also reclaimed the interest I was charged for being overdrawn, so just wondered if same applies to credit cards...

normanmark

Interest is a compound part of how borrowing works, why would that be up for reclaim? It's not an unfair part of the credit system (unlike the penalty charges over the value of £12).

In short, no you cannot claim it back.

Inactive

Can I have the interest refunded on my mortgage payments please?:rotfl:

Robert_Sterling_3

normanmark wrote: »

In short, no you cannot claim it back.

You can claim it back but you will not get it back.

_Andy_

So do you think it's 'unfair' for a credit card provider to dare you to charge you interest as per what you agreed to?

Unbelievable.

Paulgonnabedebtfree

Ordinary interest is just part of the deal. Mind you, if you are just referring to any interest on the charges, that might be up for debate. How the hell you would work it out is beyond me though .

cifpower

Paulgonnabedebtfree wrote: »

Ordinary interest is just part of the deal. Mind you, if you are just referring to any interest on the charges, that might be up for debate. How the hell you would work it out is beyond me though .

I think you would use the interest rate applied by the Courts which is 8%

leachyd

You lot should read, the OP corrected himself. Yes, i presume you can have a go at claiming interest that would be awarded by the courts on charges imposed by you credit card issuer. I've just done exactly that, so go for it!