Mis-sold credit card?

ILW

krisdorey wrote: »

At 19 you are considered adult enough to look after your own finances.

You could have signed up for the credit card and then destroyed it.

There is no mis-sell here, you owe the debt so you'll need to pay it.

Have we bred generation who are incapable of growing up, or is 19 now still considered an infant?

chattychappy

I can see where the OP is coming from. Increasingly people are no longer held responsible for their purchasing decisions. The lines are blurred. For example Distance Selling Regs mean that you can buy something on a whim and simply change your mind. S75* means you can buy from a dodgy supplier overseas and expect the CC to bail you out.

But, specifically, in the case of certain financial services, suppliers have the legal duty to ensure that a product is suitable and sold in a certain way. Hence the PPI "scandal". I think most people knew PPI were overpriced and usless in many cases - but it was a way of CCs clawing back profits. But they were caught out because PPI is an insurance product and therefore capable of being "miss-sold".

So I can understand the OP believing that a CC company has a duty to pick up the tab if in some way the deal wasn't suitable or all it was presented to be. Why not? That applies in other areas of finance.

But as it stands, "miss-slling" is still confined to certain product areas only. No doubt the scope will widen as "do gooders" claim that products falling just out of scope are "loopholes" that the government need to close.

(* I know it's been around since 1974, but it's only in recent years it's full effect has been publicised and utilised.)

Enfieldian

Stop studying now, you are obviously incapable of learning the basics of life and responsibility, anything else would be wasted on you.

_Andy_

Seems to be an ever-increasing number of lame, pathetic people on MSE who don't have any concept of responsibility.