Thread: can i claim back retail interest back

i have over £1000 in retail interest, can i claim this back

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Explain ?

Originally Posted by Mad Nick

Explain ?

On the statements it says cash interest (self explanitory) also on the statements is states retail interest, anything from £2.46 - £37.94, but there is no explanation for it. does any one know if this can be reclaimed under the penalty charges as this is only applied once account has exceeded the credit cards limit. thanx

Originally Posted by baconbuttyman

On the statements it says cash interest (self explanitory) also on the statements is states retail interest, anything from £2.46 - £37.94, but there is no explanation for it. does any one know if this can be reclaimed under the penalty charges as this is only applied once account has exceeded the credit cards limit. thanx

I think you'll struggle. As I understand it Cash Interest is interest that has been charged when you withdraw cash on your credit card. It's usually significantly more than if you use your card to purchase an item.....some cards charge as much as 29% on cash withdrawls. I don't believe this is a penalty charge for breach of contract.

Originally Posted by ijoseph

I think you'll struggle. As I understand it Cash interest is interest that has been charged when you withdraw cash on your credit card. It's usually significantly more than if you use your card to purchase an item.....some cards charge as much as 29% on cash withdrawls. I don't believe this is a penalty charge for breach of contract.

the cash interest is as i said self explanitory, its the retail interest i am stuck with