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NewDay Ltd

Financial Ombudsman decision DRN4107809 Partly upheld

The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.

What this decision was about

Irresponsible lending, Charges and fees

In the Ombudsman’s words

I consider that it was fair and reasonable for NewDay to accept Mr W’s application for a credit card in November 2016 – and I consider that the initial credit limit of £250 was appropriate for Mr W’s circumstances. But I’m not persuaded that it was fair or reasonable for it to have increased his credit limit from £250 to £1,000 in May 2017Irresponsible lending

Refund all interest and charges that Mr W has paid on the amount by which his balance exceeded £250 for the period since his credit limit was increasedCharges and fees

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN4107809.pdf on financial-ombudsman.org.uk.

The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.