V A N Q U I S

SnowTiger

marc3 wrote: »

although i still await its receipt -it appears that as a discharged BR ,Vanquis have granted me a card and its on its way-good.

To obtain it-i applied on line-it seems via a 'broker' and of course i get inundated with loan/payday offers etc etc-non of which i want.

Plus i was sent through a number of 0906 numbers to get the card-obviously incurring costs.

I'm not naive-and appreciated i would incur charges for these 0906 numbers and took the view that to get the card it was worthwhile.

That given-supposedly my call costs will be reimbursed (yeah right!!)

I think you've been scammed, just like many others at http://whocallsme.com/Phone-Number.aspx/09064001800 and I'd be surprised if Vanquis even know you exist. Why would they rely on information in a credit card application made on your behalf by a third party?

Someone claiming to be a representative of CFD/Horizon Finance posted this to WhoCallsMe:

I work within the customer service department at CFD

HOW DO I CLAIM MY CALL CHARGES BACK?

We would like to help every single customer get exactly what they want, unfortunately, this would be an impossible task and however hard we try and however many lenders we have on our panel we cannot help everyone. If, for whatever reason, you are not 100% completely satisfied with our service and would like to claim your money back, we offer a full “no questions asked” money back guarantee for the full costs of your call.

The law permits us to retain £5.00 towards the expenses we have incurred in processing your enquiry, however, we have chosen to waive this right and will always offer a full refund.

It is very important to us that our customers feel completely satisfied with the service we offer, and if you don’t, for whatever reason, we feel that you should not have to pay for it. We won’t question your reasons for wanting a refund, but we do appreciate your feedback so we may use it to focus our attentions on what is truly important to our customers.

In order to obtain a full refund, we would simply ask that you send in a copy of your telephone bill (to ensure that we do not underpay you) highlighting the calls made to our service.

If sending by post, you can either send it using our freepost service as below:

(No stamp required, simply write the above address on your envelope and we pay the cost)

Customer Services Department
FREEPOST
CFD
SK1 1TA

Or, you can use our normal postal address, but will need to place a stamp on your envelope:

Cash Finance Direct Limited
Floor 7
Dale House
Tiviot Dale
Stockport
Cheshire
SK1 1TA

A scanned copy of your telephone bill will be perfectly acceptable, please send it via email to: customerservices@horizonfinance.co.uk

If you are in any doubt that we have received your refund request, please do not hesitate to contact us, ideally via email to customerservices@horizonfinance.co.uk and we will come back to you as quickly as we can with an anticipated payment date, please include your name, address and telephone number so we can contact you via telephone if we need to.

So, the cost of the telephone call appears to be a brokerage fee.

marc3

really useful and interesting reply-thanks-great stuff

looking_ahead

RE the application to vanquis via a broker.........

As its been mentioned , It all sounds a bit dodgy to be honest. I would NOT recommend sending this broker a copy of ANY personal ID such as phone bill, passport or bank statements...... who are you sending it to and what could they potentiaslly do with them ?

On a more positive note, I applied with vanquis 1 DAY, yes 1 DAY after discharge in 2010. within 2 months I had a contract iphone with T mobile, catalogue with JD williams ( expensive but lots of green ticks on credit file ).

I had no increase whatsoever from the origonal £250 with vanquis untill 9 months later when it was raised to £1000. now used to get protection when buying on line and paid immediately.

As mentioned on here, there appears no logic to the limit increases with vanquis. I earn £45k+ now and waited 9 month. my wife( also discharged ) was a student earning zero and was raised every 3 months ????????

JD williams has raised my limit from £150 to £1500 in 1 year..... again, you would NOT want to carry a balance as interest is crazy.

In summary, chin up. If your origonal application turns out to be bogus, do apply direct as they will probably accept you. I had a horrendus record due to a business which failed in the credit crunch.

Hope this helps a little.

yellowmonkey

Ok silly question time

Say my balance carried forward is £100 but I spend £10 after statement date when I come to pay off my balance in full do I just pay the £100 balance carried forward or the £110 showing as current balance

Sorry it has been a while since I had a credit card

alfred64

Just pay off the £100. The £10 spend will appear on the following month's statement.

yellowmonkey

alfred64 wrote: »

Just pay off the £100. The £10 spend will appear on the following month's statement.

Lovely. Thanks

System

Hi, I wanted to ask how do they calculate minimum payments on Vanquis. I have £1000 Vanquis card, APR 34.08%. On statement it is only written:
Billed deferred finance charges £1.08
Purchase interest £6.37.
But the minimum payment I have to pay is £40.34, the amount spent £896.46. So besides those two charges what other charges are, for the rest of £32.89 amount?? I didn't take cash out of this card or used cheques, nor had any late payments.

Thanks
Kristina

SnowTiger

melynaake wrote: »

Hi, I wanted to ask how do they calculate minimum payments on Vanquis. I have £1000 Vanquis card, APR 34.08%. On statement it is only written:
Billed deferred finance charges £1.08
Purchase interest £6.37.
But the minimum payment I have to pay is £40.34, the amount spent £896.46. So besides those two charges what other charges are, for the rest of £32.89 amount?? I didn't take cash out of this card or used cheques, nor had any late payments.

Paying back what you've borrowed?

Perhaps you missed this when you read through the T&C before applying for the card... http://www.vanquis.co.uk/credit-cards/terms-and-conditions:

You will have to make a repayment each month. Your statement will show the minimum repayment value for that month which will be the highest of:

1. any interest or minimum finance charge added to your Account and shown on your statement; and any Default Charges and any fees for the maintenance of your Account added to your Account and shown on your statement;
together with 1.5% of the remaining balance owing on your Account as at the statement date; or

2. if your APR is 19.94%, 3.5% of (i) the balance owing on your Account as at the statement date and (ii) any amount by which your Account balance exceeds your Credit Limit
if your APR is one of 29.84%, 34.94%, 39.94%, 49.94% or 59.94%, 4.5% of (i) the balance owing on your Account as at the statement date and (ii) any amount by which your Account balance exceeds your Credit Limit
if your APR is 69.94%, 5.0% of (i) the balance owing on your Account as at the statement date and (ii) any amount by which your Account balance exceeds your Credit Limit; or

3. £5.

£896.46 * 0.045 = £40.34.

System

I do realise I'm paying for what I have borrowed. However minimum amount covers the charges anyway. So I just wanted to know what other charges besides interest and those two mentioned above as it doesn't show on statement.

custardy

melynaake wrote: »

I do realise I'm paying for what I have borrowed. However minimum amount covers the charges anyway. So I just wanted to know what other charges besides interest and those two mentioned above as it doesn't show on statement.

its already been shown
the £40.34 is the minimum due on your account

so the interest is included
so £30 odds is off your balance