Rise in credit card complaint levels

July 3rd, 2008 • Related • Filed Under

According to a recent report there has been a sharp rise in the level of credit card related complaints. Over the past year the level of complaints relating to various areas of credit cards has rocketed, according to officials, with a number of factors resulting in consumers making complaints. The figures come from the Financial Ombudsman Service, with officials from the FOS stating that the past year has been one of extreme unease, even describing it as the most uneasy tear since it was set up.

The FOS said that many of these credit card complaints were made over default charges applied by the credit card firms when consumers made their repayments late or missed repayments altogether. The FOS also went on to state that the majority of consumers complaints end up being rejected other than in cases involving credit cards. It seems that consumers have had cause to make complaints about credit cards over the past year, with a number of incidents over credit cards coming to light.

Over the past year a number of credit card firms have been hiking up the interest rates, charges, and fees on their cards, despite three recent base rate cuts, and this has led to consumers having to pay way over the odds on their credit card borrowing. In addition to this credit card companies have been slashing credit limits without telling the applicants, and in some cases have even withdrawn credit card facilities from applicants altogether.

There were under three thousands complaints relating to credit cards that were received by the Financial Ombudsman Service for the year 2006, but for the year 2007 this figure rocketed to over fourteen thousands, as more and more consumers found themselves at the mercy of credit card providers.

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  1. Pingback by Credit Card Defaults Expected To Rise | Credit Cards Web on 8 July 2008:

    [...] Rise in credit card complaint levels [...]

  2. Comment by DICK BARTON on 14 October 2008:

    MAKEING A COMPLAINT TO GE MONEY OR GE CREDIT CARD SERVICES?

    BEWARE THE UNDER £100 SCAM!

    WAS IT CARD FRAUD, CARD DATA THEFT, OR WAS COMPUTERWEBSTORE.CO.UK HAS YOUR CARD COMPANY MADE IT YOUR PROBLEM

    WAS IT A SUPPLIER WHO DIDN’T DELIVER BUT TOOK THE MONEY, DID YOU FIND THEY OFFERED ANOTHER DELIVERY DATE AND THEN THE SUPPLIER FAILED TO DELIVER, DID THEY OFFER YOU A REFUND AND NEVER REPAY? DID YOU PAY BY CREDIT CARD

    GE MONEY OFFER ONLINE FRAUD PROTECTION – Y/N CATCH OR SCAM?
    GE MONEY DONT OFFER ONLINE FRAUD PROTECTION. IF A TRANSACTION IS LESS THAN £100 GE MONEY CLAIM EXCEMPTION FROM THE CONSUMER CREDIT ACT. YOUR GE CREDIT CARD IS NOT SECURE.

    GOT PROBLEMS WITH ASDA GE MONEY, AVOID THIS CARD, THEIR BOOKKEEPING IS NOT WHAT IT SEEMS. ASDA RUN A MILE FROM THEIR OWN PRODUCT AS SOON AS YOU COMPLAIN ABOUT GE MONEY. ASDA SAY ITS YOUR PROBLEM.

    WATCH OUT FOR PLATITUDES AND SYMPATHY, PHONE CALLS TO CARD COMPANIES ARE RECORDED, USED BY THEIR LAWYERS IF ANY MATTER GOES TO COURT. WATCH OUT FOR LEADING QUESTIONS, THEY USE THESE TO REMOVE YOUR RIGHTS, AND DISTORT OR TWIST YOUR STORY AGAINST YOU.

    BETTER TO WRITE A LEETER, LIST THE COMPLAINTS AND DEFECTS, IDENTIFY ANY CONTACT TIMES WITH STAFF ESPECIALLY THOSE WHO LIED, DESCRIBE THE PROBLEM IN SIMPLE TERMS DO NOT GET DRAWN INTO SIDE ISSUES.

    CORRUPTION IS EVERYWHERE, BE SUSPICIOUS IF THEY ARGUE.

    THE CARD COMPANY DON’T CARE A TOSS FOR YOUR LOSS, YOUR ON THE MONEY FARM BEING HARVESTED!

  3. Comment by Laurie on 24 October 2008:

    GE Money is also abusing its US customers regularly.

    They do not follow federal laws and flat out refuse to resolve disputes regarding their Bookkeeping errors”

    You have to engage the Federal Government with every complaint

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