WHAT ARE REVOLVING CARDS?

The «revolving» or simply «revolving» cards represent a type of credit card offered by different gas stations, supermarket chains, various banks and credit institutions, etc. However, they have certain particular characteristics, which make them complex and users are not in control. In this sense, it is important that the users of these cards understand the risks associated with their use as well as understand their operation, in order not to fall into extreme debts that are unpayable.

WHAT ARE REVOLVING CARDS AND WHY IS THEIR OPERATION CONTROVERSIAL?

This type of «revolving» cards are those that allow you to make installment payments or allow the deferment of payments associated with the consumption made.

However, this type of card does not pass the payment to the month due like other credit cards, but the collection is made through monthly installments, thus generating interest.

In this way, they are treated as if they were mini-credits, making the majority of “revolving” users not realize that the associated installment payments carry very high interest.

DID YOU KNOW…?

Revolving cards can be used regardless of having funds or not, which increases the risk when using them.

WHAT THE COMPANY THAT CLAIMS MY REVOLVING CARD HAS TO OFFER ME

• We carry out a particular analysis of the cases in order to determine if the claim is viable or not. This analysis is performed without any commitment and has no cost.
• We develop our work in order to recover the money and ensure that the debt is cancelled.
• We manage all the delivery of documents required to carry out the claim.
• Carry out a negotiation with the entity responsible for issuing the «revolving» card, in the event that it is beneficial for the user to reach an out-of-court settlement.
• And finally, the most fundamental, if the case is won, we charge, otherwise not.

At MIE we offer claims for revolving cards in numerous locations in Spain.