Claim back credit card charges
A credit card charge is a penalty for making a late payment or going over your credit limit. Late fees and overlimit fees can be considered illegal because the size of the fine is disproportionate to the costs incurred by the credit card issuer. Due to this it is possible to reclaim unjustified fees.
If you would like to reclaim credit card charges then the first thing you need to do is to check whether you have had any such charges within the last six years. If you don’t know you are entitled to ask your credit card provider for a list of charges. They have 40 days to release this information to you.
Once you have received the list of charges, you will need to assess which ones are late fees and which ones are over limit fees. These fees tend to range from £30 to £12.
Your next option is to determine how you want to claim back these charges. Some people take on their own claim as they know exactly how much to get back from the credit card company. Some financial institutions may come back with a partial offer of charges. Some may even offer a full refund of charges. It is essential here to reclaim interest on top of these fees.
Some financial institutions can be awkward when it comes to giving people a refund. This is why many consumers are engaging the services of claims companies who can recover these charges on their behalf. Furthermore, they will assess the calculations and make sure that interest has been refunded on top of the charges. This increases the amount of redress a consumer can get back. Seeking interest on top of the fees can significantly increase the total amount reclaimed. Because of this it can be a fruitful exercise to enlist the services of a claims company.
