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Vanquis repayment option plan????
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# 1
Old 29-01-2012, 3:37 PM
MoneySaving Newbie
Join Date: Feb 2011
Posts: 8
Question Vanquis repayment option plan????

Hi All

Apologies if this is in the wrong place but I could really use some of your expertise here.

Unfortunately my husband and I got ourselves into a mess with unsecured credit. We are climbing our way through it having negotiated reduced repayments with creditors etc.

Because I am now paying (overdue) attention to our spending I have noticed that Vanquis are charging us an amount each month for Repayment Option Plan - I have no idea what this is.

As we are paying 30.13 off each card (we have 2) each month and they are taking 28.19 Repayment Option Plan then this debt is reducing by less than 2 per month .

Any advice would be appreciated.

Many Thanks
chocolatebutterbean is offline
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# 2
Old 29-01-2012, 3:55 PM
MoneySaving Stalwart
Join Date: Jan 2008
Posts: 552

It's their PPI policy

Last edited by leicsmarkyr; 29-01-2012 at 3:58 PM. Reason: Spelling
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# 3
Old 29-01-2012, 4:56 PM
Fantastically Fervent MoneySaving Super Fan
Join Date: May 2009
Posts: 9,062

Cancel it, they will try to hardsell when you do .
Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
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# 4
Old 29-01-2012, 7:46 PM
MoneySaving Stalwart
Join Date: Jul 2010
Posts: 361

Cancel it, but they won't let you cancel without a ton of trouble, they'll try to sell you 3 months at 1p per month and if you say you dont want it they'll start saying why not.
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# 5
Old 30-01-2012, 9:43 PM
MoneySaving Newbie
Join Date: Feb 2011
Posts: 8

Thanks for the replies. Can I cancel in writing and if so does anyone know where I write to. I have no policy or details for this and had no idea I was paying for it until I got into difficulties.
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# 6
Old 31-01-2012, 2:53 AM
Serious MoneySaving Fan
Join Date: Apr 2005
Posts: 900

Vanquis Visa Card
Customer Services

PO Box 399
I'm not poor i'm just skint
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# 7
Old 08-02-2012, 7:29 PM
MoneySaving Newbie
Join Date: Feb 2012
Posts: 2

I found out in October that this was being applied to my account. I dug all my paperwork out and email, nowhere did it say that this was optional. It was applied straight to my account when I got the card. I received my T&C's by email in 2006. I have just got off the phone from Vanquis would said to me that I definitely would have been told this was optional and all the details about it, when I repeated I hadn't the woman turned round and said "you would have they probably just spoke really quickly about it". She then continued to say that I would have got all the details about the plan in the T&C's in the post. I told her that i received these via email which she said they NEVER do but guess what I have the email to prove it and nowhere does it say it's optional. I have said I want the original call from Oct 2006 listening to has I want this money refunding. I know it's not PPI but this was put on my account without my consent and no information provided about the plan. They cancelled the plan in Oct 2011 when I emailed them. I have never received a response via email/post or phone to advise they cancelled it.

If I were you i would try to get this money refunded.
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# 8
Old 06-02-2013, 5:57 PM
MoneySaving Convert
Join Date: Jan 2012
Posts: 53

Hi I've just came across this post after finding myself in the same situation...did any of you get refunded? And were able to cancel? I don't remember agreeing to this policy and because I've never had paper statements I've never checked what I'm being charged each month until now :O I'm shocked at the amount I've been paying to it!!
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