What Are Revolving Cards And Why They Can Be Abusive

Revolving cards are a type of financial product that allows users to make purchases or have money on credit, returning the amounts in flexible monthly installments. What differentiates these cards from traditional credit cards is that the installments are usually small and, in many cases, only cover the interest generated, leaving the outstanding capital practically intact. This system can generate a debt that extends indefinitely, known as “revolving debt”.

In principle, revolving cards seem an attractive solution to have money immediately without a significant impact on the monthly budget. However, many contain conditions that can be considered abusive, which has generated numerous legal claims in recent years.

The main problem lies in the interest rates applied to these cards, which are usually extremely high, often exceeding 20% ​​APR (Annual Rate Equivalent). This type of interest is classified as usurious by the Law on the Suppression of Usury when it exceeds normal market limits. In 2020, the Supreme Court declared on several occasions that these interests can be considered abusive, which opens the door to the cancellation of the contract and the recovery of the amounts paid in excess.

In addition, the lack of transparency is another factor that makes revolving cards a potentially harmful product for consumers. Many financial institutions do not clearly explain the conditions of the contract, the interest rates applied or the consequences of choosing very low monthly installments. As a result, users can end up trapped in a cycle of debt that grows over time instead of decreasing.

Another critical aspect is the financial impact that these debts can have on consumers, who are often unaware of the real financial burden until the debt becomes unsustainable. This can lead to legal problems, such as lawsuits for non-payment, and serious psychological repercussions, such as financial stress.

If you are the holder of a revolving card and suspect that it contains abusive clauses, it is important to seek legal advice. A specialized lawyer can help you analyze your contract, calculate the money you could recover, and claim against the financial institution. This type of claim not only protects your rights as a consumer, but also promotes greater transparency in the financial sector.

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