In case you have been paying all over the years with an unreduced debt, this is probably due to you have a revolving card. Commercially available by selected entities, such as Wizink, Cetelem, Carrefour (VISA Carrefour pass), Cofidis and CaixaBank Payments & Consumer.

On March 4, 2020, the Supreme Court declared the nullity of a revolving card contract because the remunerative interest is considered usurious. The Judgment analyzes a Wizink’s contract in which the interest was 26,82 % increasing until the time the action was brought.

The Supreme Court argues that this interest rate is significantly higher than the normal interest rate for money and manifestly disproportionate to the circumstances of the case”. To determine which interest rate is significantly higher than the normal rate of money, the Supreme Court refers to the tables published by the Spanish Bank In relation to revolving cards over 20%, which he considers already very high.

It concludes that the interest rate applied is significantly higher, declaring the contract signed null and void.

Therefore, we recommend that you put yourself in the hands of professionals, because, in addition, if you have paid more than you borrowed, we can claim, together with the nullity of the contract, the return of the amount exceeding the capital borrowed.

At Cabrera Abogados, we study each contract, providing our clients with an out-of-court claim, and informing you of the steps to follow to declare the contract null and void.