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    • CharlotteElizabeth
    • By CharlotteElizabeth 14th Jul 17, 7:34 PM
    • 39Posts
    • 1Thanks
    CharlotteElizabeth
    Cash Interest Vanquis Bank
    • #1
    • 14th Jul 17, 7:34 PM
    Cash Interest Vanquis Bank 14th Jul 17 at 7:34 PM
    Hello,

    Please can someone tell me what this is? I don't take cash out on my credit card cos of the massive cost of doing so - but each month I have been charged cash interest at 3% a month. Is this something I should be paying? It's not tons, but if they shouldn't be charging it then I want it back off them!

    I have just had a letter saying that my credit limit is going up to £2500 - is this because i'm finally paying my older debts off? ( I have cleared one, one is nearly done (£200 left) and the other is a bit hefty but going down each month.
Page 1
    • zx81
    • By zx81 14th Jul 17, 7:35 PM
    • 14,403 Posts
    • 15,201 Thanks
    zx81
    • #2
    • 14th Jul 17, 7:35 PM
    • #2
    • 14th Jul 17, 7:35 PM
    What are you using your card for? Some transactions count as cash.
    • CharlotteElizabeth
    • By CharlotteElizabeth 14th Jul 17, 7:40 PM
    • 39 Posts
    • 1 Thanks
    CharlotteElizabeth
    • #3
    • 14th Jul 17, 7:40 PM
    • #3
    • 14th Jul 17, 7:40 PM
    I get a Birchbox beauty box each month on DD and pay for petrol each week from Tesco!

    I'm looking at getting flights soon so it will come in useful - although it does have a 37% interest rate which I think is high but I doubt I would get a better rate and have the credit limit not at £500
    • zx81
    • By zx81 14th Jul 17, 7:44 PM
    • 14,403 Posts
    • 15,201 Thanks
    zx81
    • #4
    • 14th Jul 17, 7:44 PM
    • #4
    • 14th Jul 17, 7:44 PM
    Where are you seeing the cash interest being charged? Are you clearing in full each month? What are your cash and purchases rates?
    • CharlotteElizabeth
    • By CharlotteElizabeth 14th Jul 17, 7:52 PM
    • 39 Posts
    • 1 Thanks
    CharlotteElizabeth
    • #5
    • 14th Jul 17, 7:52 PM
    • #5
    • 14th Jul 17, 7:52 PM
    On my transaction statement - I'm being charged purchase interest of £11 and Cash Interest of 45p.

    I haven't been paying it off in full like normal for past 2 months as I spent quite a bit on avoiding a CCJ by putting it on the card but been paying hefty amounts (£200/£300 a month) to get it down.

    There is nothing on there about me withdrawing cash from a cash machine.
    • zx81
    • By zx81 14th Jul 17, 7:56 PM
    • 14,403 Posts
    • 15,201 Thanks
    zx81
    • #6
    • 14th Jul 17, 7:56 PM
    • #6
    • 14th Jul 17, 7:56 PM
    Any gambling, currency, paying credit, National Lottery, etc?
    • CharlotteElizabeth
    • By CharlotteElizabeth 14th Jul 17, 8:01 PM
    • 39 Posts
    • 1 Thanks
    CharlotteElizabeth
    • #7
    • 14th Jul 17, 8:01 PM
    • #7
    • 14th Jul 17, 8:01 PM
    Nope, literally online order and tesco petrol station sometimes.

    This month has just been a Birchbox and been using my debit card for petrol

    Purchase Interest is: 2.84%
    Cash Interest is: 3.43%

    .
    • zx81
    • By zx81 14th Jul 17, 8:02 PM
    • 14,403 Posts
    • 15,201 Thanks
    zx81
    • #8
    • 14th Jul 17, 8:02 PM
    • #8
    • 14th Jul 17, 8:02 PM
    You'll have to give them a call. I'm out of ideas.
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