What are my rights if the bank has blocked my credit card even though I have no outstanding debts?
July 2, 2023 | 50,00 EUR | answered by Carsten Ahlert
Dear lawyer specializing in banking law,
I am reaching out to you with an urgent question regarding my credit card. My name is Isabel Koch and recently my bank blocked my credit card, even though I do not have any outstanding debts or late payments. This sudden blocking has left me feeling very unsettled and I am wondering what rights I have in this situation.
For background information: I have had the credit card with the bank for several years and have consistently and promptly repaid it. There have been no issues with my payments and I have always fulfilled my financial obligations. Therefore, I do not understand why my card was blocked without any prior warning.
My concern is that I am now limited in my financial flexibility and can no longer rely on my credit card as a form of payment. I am wondering if the bank has the right to simply block my card and what steps I can take to lift this block and be able to use my card without restrictions again.
Could you please explain my rights in this situation and suggest possible solutions to clarify the blocking of my credit card? I would greatly appreciate your support.
Kind regards,
Isabel Koch
Dear Mrs. Koch,
Thank you for your inquiry regarding the blocking of your credit card. It is understandable that this sudden measure by your bank has left you feeling uncertain and that you are seeking information about your rights in this situation. As a lawyer specializing in banking law, I would like to provide you with some information on this topic.
First and foremost, it is important to emphasize that banks have the right to block credit cards if they suspect abuse or fraud. This may occur, for example, if unusual transactions are detected or if the card's security is compromised. In such cases, the bank is obligated to take measures to protect itself and its customers from financial harm.
However, the bank must provide you, as the cardholder, with a justification for blocking your credit card. You have the right to know this justification and to potentially object to the blocking. It is important that you contact your bank immediately to obtain more information about the reason for the block and to find a solution to the problem.
In your case, since you have no outstanding debts or payment arrears and have regularly paid off your credit card bills, the blocking of your credit card appears to be unwarranted. It is crucial that you ask your bank for an explanation for the blocking and, if necessary, submit a written objection.
If the bank does not respond to your inquiries or offer a satisfactory solution, you may seek assistance from a consumer protection agency or a specialized lawyer in banking law to take legal action against the bank. It may also be helpful to file a complaint with the relevant financial services regulatory authority.
Overall, it is important that you are aware of your rights as a cardholder and that you take action against an unjustified blocking of your credit card. I hope that this information is helpful to you and that you will soon find a satisfactory solution to your problem.
Sincerely,
Carsten Ahlert
Lawyer specializing in banking law
