CCA 1974 and the £25,000 limit.

[Seamus]

Apparently until 2008 any credit taken out over £25,000 was unregulated and did not have the protection of CCA 1974, since 2008 this has been repealed and its an unlimited amount. What happens if you took out a credit card pre 2008 where the initial limit was below £25,000 but over the years was raised so that the balance now stands above £25,000? Would this mean there is no protection from CCA 1974?

S.

[Undercover Elsa]

Re: CCA 1974 and the £25,000 limit.

I would think if it was taken out under a regulated agreement then it would stay regulated unless you signed a new agreement to the contrary.

See what others think

[Seamus]

Re: CCA 1974 and the £25,000 limit.

I would think if it was taken out under a regulated agreement then it would stay regulated unless you signed a new agreement to the contrary.

See what others think

Thanks Elsa, just found out 5 minutes ago that you're right and it is still covered by CCA 1974

Thanks

S.