V A N Q U I S

Cash_Flow

seeya23 wrote: »

i got my statement this month min payment was £22 but charges was £27.89 so my min payment was not covering it

Whats your interest rate?

seeya23

Cash_Flow wrote: »

Whats your interest rate?

47.8% apr for now lol

izools

seeya23 wrote: »

47.8% apr for now lol

Remember guys, Vanquis don't quote the APR on their statements, they quote simple interest (non-compounded) to make it look cheaper than it is.

47.8% Simple Interest = 59.9% APR :eek:

Anyway, everyone should be clearing theirs in full and not spending more each month than they can afford to repay fully???

izools

OH, Re: Faster Payments to Vanquis, has anyone actually verified how long it takes to reach the account?

I paid mine off in full yesterday via Faster Payments (Shows up as FPO on my online statement from Lloyds) in the morning, but still not showing on my Vanquis account this afternoon...

wizzywig27

izools wrote: »

OH, Re: Faster Payments to Vanquis, has anyone actually verified how long it takes to reach the account?

I paid mine off in full yesterday via Faster Payments (Shows up as FPO on my online statement from Lloyds) in the morning, but still not showing on my Vanquis account this afternoon...

I asked if I could make a payment via online banking (faster payments) and she told me 3-5 days, whereas a debit card payment is 3 days! thats what I was told!

never-in-doubt

izools wrote: »

OH, Re: Faster Payments to Vanquis, has anyone actually verified how long it takes to reach the account?

I paid mine off in full yesterday via Faster Payments (Shows up as FPO on my online statement from Lloyds) in the morning, but still not showing on my Vanquis account this afternoon...

I paid each of my Vanquis bills via FP and went in the same day - but doesn;t actually update with Vanquis til the next day...... I use HSBC and say I paid on Monday, by Tuesday my balance at Vanquis is reflected back to £0 (bear in mind i've only spent on it a handful of times so this data may be a little outdated!)....

ianatlaw

Hello All, I am new to the forums here so I hope that I am posting this correctly! Due to my poor credit history I applied and received a Vanquis card approx. 18 months ago. This was intended to be a stop gap but my financial circumstances worsened leaving me to rely more heavily on the card. My balance is now approx. £2,300 and with about 33% interest I can only afford the minimum payment each month. I do not use the card now and am trying to reduce the balance but would obviously prefer to transfer to a card with a much lower rate to reduce this more quickly and not pay so much in interest. Once again due to my credit history I have been declined by the more 'mainstream' companies.

Any ideas??? Thanks

izools

What is your credit history like? Have you obtained your credit file recently?

If you could let us know more about your credit file, i.e. if you have any overdue accounts, if you have any defaulted accounts, if you have any outstanding / settled defaults and how old they are, how long ago you last missed a payment, how many times you've applied for credit over the last six months, etc, should be able to give you some advice on either which card to try for, or what do to so that you've got a better chance of approval in six months time.

I've got to ask - what on earth made you think spending this much on a card with such a high APR was a better idea than budgeting more strictly??

peachyprice

Woo hoo, just got my 7th statement and an increase to a whopping £1250 :j

FWIW, I always pay in full by DD, previous limit ws £500, closest I got was this statement at £460, but it's usually between £250-£300.

I'm so pleased, that'll do nicely for when they swipe it for the excess for car hire when we go on holiday in the summer and leave some spare in case of an emergency while we're away.

Oh, and they still keep sending those bloody cheques, I thought that wasn't allowed anymore?

d123

peachyprice wrote: »

Oh, and they still keep sending those bloody cheques, I thought that wasn't allowed anymore?

no, it is still only something the Govt is considering implementing, but they are supposed to stop sending them if you contact them and tell them to stop.