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CCA 1974 and the £25,000 limit.

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  • CCA 1974 and the £25,000 limit.

    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any credit taken out over £25,000 was unregulated and did not have the protection of CCA 1974, since 2008 this has been repealed and its an unlimited amount.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.

  • #2
    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

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    • #3
      Re: CCA 1974 and the £25,000 limit.

      Originally posted by Undercover Elsa View Post
      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.

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