Usury: Wizink ordered to cancel 7,000 euros of interest on a revolving credit card of a FACUA affiliate
The Valladolid Court of Appeal upheld the ruling that considered the 27.4% APR interest rate to be "notably higher" than the average for credit and revolving cards in the month of the contract to be usurious.
FACUA.org
Castilla y León-06/04/2021
Following action by FACUA Castilla y León, the Provincial Court of Valladolid has ordered Wizink to cancel a user’s revolving card contract on the grounds that the interest rate of 27.4% APR was considered usurious, which has also been annulled. In less than 3 years, the amount claimed by the bank in interest, almost 7,000 euros, exceeded the amount the user had used the card for.
The court has thus ratified the judgement of the 14th Court of First Instance of Valladolid, which had already ordered the entity to cancel the contract, as well as all the interest, and to return to the affected party 56 euros that he had overpaid with respect to the amount he had at his disposal.
David P.D., a resident of Valladolid, took out a revolving credit car
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