Revolving Cards

The revolving cards, how do I know if I have one?

January 2, 2020
By TeichForum

You know if one has a revolving credit card it is easier than one may think. Revolving cards , today, are the most popular cards with which you can pay and defer payment of purchases made . The money spent will be returned later in monthly installments in exchange for paying interest. On many occasions, these cards are sold to us as quick and easy money to return since you are returning it in installments paying a monthly fee. What we do not know is that we are really hiring a service in which the interests are very abusive.

Many entities are making gold thanks to this type of abusive interest that they are charging for revolving cards. The most common in Spain are: WiZink , CETELEM, COFIDIS and VIVUS. Thousands of customers are claiming their rights based on the abusive interests of revolving cards . Paying interest more than 20% is a reason for claim. If you have the slightest doubt, check your contract.

The main characteristics of revolving cards

These are the main characteristics that revolving cards have. Thanks to these characteristics we will be able to find out if we have a revolving card in our wallet:

  • When hiring a revolving card, they will only give us the option to return the money through monthly installments.
  • They do not allow you to pay at the end of the month the full amount of what has been spent with the revolving card contracted.
  • Whenever this type of card is used, we will be paying in turn a series of interests. In most cases these interests are abusive.
  • They offer us these cards as "free" or indicating that they have issuance and renewal interests.
  • Revolving cards are associated with lines of credit . This is what determines how much we can spend with revolving .

Tips revolving cards

In Spain thousands of people use credit cards every day to pay all their expenses at the end of the month. There are even more who prefer to divide those payments into monthly installments so as not to pay everything at once. If this is your case, you will have a revolving card in your wallet. These tips may help you:

  • Check your contract, if you are paying more than 20% interest, you must claim it in court for its nullity and claim.
  • Having control of expenses will help us avoid entering a circle of debts from which it will be very difficult to get out.
  • With revolving cards we use money that is not ours. The biggest problem comes when we lose track of what we are spending. The entities are not obliged to notify us if we are spending a lot or a little, with which, it is very easy to lose the account.
  • It is better not to return what was spent in small installments because we will end up paying more in interest than in the money we have spent. The most advisable thing is to end that debt as soon as possible as long as we can.

List of revolving cards in Spain

You have to be careful when hiring a credit card . The entities try to camouflage the revolving with promotions, such as, for example, the saving of certain commissions or a lower interest rate than usual. Given these facts, it is advisable to spend time reviewing the contracts well before signing them. This list of revolving cards can help you both to know if you have one of them and not to hire them:

  • ALCAMPO card (Oney);
  • DIY AKÍ Card (Oney);
  • AIR EUROPA SUMA VISA card (Bankinter);
  • BP card (Bankinter);
  • CONFORAMA MasterCard (Cetelem) card;
  • DECATHLON card (Oney);
  • EROSKI RED VISA card (Banco Santander - Consumer Finanace);
  • FNAC VISA card (Caixabank - Finconsum);
  • GROUPON VISA card (Bankinter);
  • INDITEX Affinity Card (ZARA group) (UNOE- BBVA Group);
  • IKEA FÁMILY MasterCard and VISA card (Banco Santander - Consumer Finanace);
  • LEROY MERLIN Card (Oney);
  • DIRECT LINE MasterCard card (Obsidian);
  • MEDIAMARKT CLUB CARD VISA card (Caixabank);
  • MELIÁ REWARDS Card (American Express);
  • MTV VISA card (Bankia);
  • PAYPAL VISA card (Cetelem);
  • RENFE Card - Dorada VISA and MasterCard (American Express, Liberbank and Ibercaja);
  • REPSOL VISA card (BBVA);
  • SIMPLY card (Sabeco Supermarkets) (Oney);
  • SOLRED MasterCard Professional and Business Card (Banco Popular and Targobank);
  • UNIÓN FENOSA MasterCard card (Banco Santander - Consumer Finanace);
  • VENTAJÓN VISA card (Banco Santander - Consumer Finanace);
  • TRAVEL ECUADOR VISA card (Banco Popular);
  • VODAFONE VISA card (Bankinter) (old Vodafone Obsidian)

TeichForum can help you with your revolving cards

If you think you may have a revolving card, do not hesitate to contact TeichForum. Our expert advisors will be able to help you and advise you on your revolving. Every day more people contact TeichForum because of revolving cards. Their interests are really abusive and must be claimed.

At TeichForum we can offer you a solution to your revolving problems. You can contact TeichForum by calling the number +34 301-740-0589 directly or by filling out the form and we will get in touch with you. All this without any commitment.

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