Credit Card Mis-Sale

monkeysarecool

Hello,

I'll be careful about what I say here as I have a complaint in progress at the moment.

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Katgrit

But surely if you'd have been given the overdraft you wanted you'd still be in the same boat? You'd still have lent the money to your family without knowing whether you'd get it back. You'd still have used the overdraft to purchase everyday things. You'd still owe money that i assume you are now struggling to pay back, you'd still be paying interest on that money. If the limit they gave you on the credit card was more than the £800 you requested on the OD they didn't make you spend they extra. Assume you HAD been given the OD but they'd given you a bigger amount, would you have let that get to more than £800? If you're not happy because they gave you access to too much money and you got carried away and spent it all i dont think its really fair to blame them. You didn't have to spend it. You either needed it or you didn't.

marksoton

monkeysarecool wrote: »

I would never have lent out the money if I knew I wasn't going to get it back - but the company were FULLY aware that this might happen when I "applied".

They were fully aware of what exactly ? That you were going to lend it out and that it might not be repaid ?

talana

monkeysarecool wrote: »

I would never have lent out the money if I knew I wasn't going to get it back - but the company were FULLY aware that this might happen when I "applied".

Surely though what you chose to do with the money you borrowed is of no consequence?
If you decided to lend it to family, then that's your problem (without wishing to sound overly harsh) and nothing to do with the bank/cc company. The bank's agreement is with you and you only.
Your problem is actually with your family members who didn't pay you back. Pursue them if anyone.

ILW

monkeysarecool wrote: »

Two weeks later, a platinum card arrived with a huge credit limit. I lent family some money and used the card to pay for my monthly spending. I never got the money back from my family and was left with a huge debt.

I am slowly paying this debt off, and I have had the illegal charges wiped but I don't remember ever signing an agreement or even applying in full. I filled out my name and address on a small bit of card and that was it. I would never have lent out the money if I knew I wasn't going to get it back - but the company were FULLY aware that this might happen when I "applied".

Sorry if I have misunderstood, but you seem to be saying that the bank know your family better than you do.
How old were you at the time?

normanmark

How we you mis-sold the card?

Surely as you stated that you was using it to loan family members money & using it for monthly spending, the card was fit for purpose then.

Only now when it comes to paying it back does it become mis-sold to you?

chommin

Check your local Citizens Advice bureau .they offer free debt advice and help youto sort out your total debt.
THINK POSITIVE it helps

td_007

monkeysarecool wrote: »

Hello,

Two weeks later, a platinum card arrived with a huge credit limit. I lent family some money and used the card to pay for my monthly spending. I never got the money back from my family and was left with a huge debt.

Basically you cannot get the money back from your family so want to find a way out from repaying it - do not think you have much of a case here. Grit you teeth and pay up and chalk it up as a lesson learned - it is your card and you are responsible for repaying it!

ILW

td_007 wrote: »

Basically you cannot get the money back from your family so want to find a way out from repaying it - do not think you have much of a case here. Grit you teeth and pay up and chalk it up as a lesson learned - it is your card and you are responsible for repaying it!

Maybe the OPs family have put in a mis selling claim against the OP for lending them the money.

td_007

ILW wrote: »

Maybe the OPs family have put in a mis selling claim against the OP for lending them the money.

:rotfl::rotfl::rotfl:Your honour the OP forcefully lend us the money to go on this fantastic cruise in 5 star comfort. How we hated it - the free drinks, the dinners and the tan !

daveboy

monkeysarecool wrote: »

Hello,

I'll be careful about what I say here as I have a complaint in progress at the moment.

Who against? Your family?

What a joke.