V A N Q U I S

paul69uk

Hi there,

I have had a problem with how my payments were allocated by Vanquis. Let's say I had a minimum payment of £50 which is was due on 9/1/13. Direct debit set up for the payment date and for the minimum payment.

The statement says 'minimum payment of £50 to reach us by 9/1/13'. I made payment of £200 on 28/12/2012, over and above the minimum payment required. Therefore the above requirement was satisfied by making the payment of £200. Despite this, Vanquis tried to collect £50 by direct debit on 9/1/13. I didn't happen to have this amount at that moment, and the DD failed. I was instantly hit with £12 'late payment charge' and a default notice was issued.

I find it outrageous. I was not late with payment, and certainly I was not in default. It does not say anywhere in the contract or statement that they will collect DD for minimum payment even though I made payment of a greater amount before. Every other credit card I know of, if you make a payment greater than the minimum before due date they change DD to £0.00 instantly and don't try to collect any money for this statement period.

Tried to explain this to Vanquis to no avail.

Anyone can help on this and say who is in the right? I am convinced I am, but they are trying to make a fool of me.

john1002

I have had a vanquis card for about 14 months now and have never had a direct debit taken even though one is set up, saying that I always pay the balance off before the due payment date. So cant see why they would try and take the payment if you have paid the balance. Could you give us the exact dates with statement date etc as something does not seem right on my experience.

john

paul69uk

John,

I repaid say £200 where the minimum payment was £50 and balance say £500 (not the actual figures, just an example).

The nonsense of the situation is that they tried to take minimum payment of £50 via DD whereas it had already been paid by bank transfer of £200. That defies logic. I have not seen a credit card working like that.

Tried to explain it to them and get a refund, but to no avail. There is nothing about it in the contract, nothing on the statements whatsoever. There is no basis for this apart from 'we have told you or we are telling you so'. Loads of rubbish.

d123

paul69uk wrote: »

John,

I repaid say £200 where the minimum payment was £50 and balance say £500 (not the actual figures, just an example).

The nonsense of the situation is that they tried to take minimum payment of £50 via DD whereas it had already been paid by bank transfer of £200. That defies logic. I have not seen a credit card working like that.

Tried to explain it to them and get a refund, but to no avail. There is nothing about it in the contract, nothing on the statements whatsoever. There is no basis for this apart from 'we have told you or we are telling you so'. Loads of rubbish.

I can remember reading of a similar issue in the past, but can't find/remember exactly where.

The consensus was that the only way to prevent the DD from running automatically was to cancel it and make manual payments every month. As I recall, even Vanquis themselves agreed there was no other way to stop it happening other than to not have a DD at all.

SnowTiger

paul69uk wrote: »

John,

I repaid say £200 where the minimum payment was £50 and balance say £500 (not the actual figures, just an example).

The nonsense of the situation is that they tried to take minimum payment of £50 via DD whereas it had already been paid by bank transfer of £200. That defies logic. I have not seen a credit card working like that.

ALL the credit cards I've previously had and have now work like that.

Most(?) will not collect the DD if you pay in full (or reduce it if necessary) if there's time.

SnowTiger

paul69uk wrote: »

I repaid say £200 where the minimum payment was £50 and balance say £500 (not the actual figures, just an example).

The nonsense of the situation is that they tried to take minimum payment of £50 via DD whereas it had already been paid by bank transfer of £200. That defies logic. I have not seen a credit card working like that.

Ironically, MSE published an article yesterday warning customers that some providers don't do what happened to you.

Just goes to show they can't win whatever they do.

https://forums.moneysavingexpert.com/discussion/4436175

eco_farmer

if you want make extra payments do it the day after the "due date" they will take the direct debt whatever you do thats how all the cards i have ever had work. how is the computer supposed to know you don't want the direct debt taken? your other option is not to have the direct debt and to pay manually once a month including your over payment. As long as you remember:eek:!

eco

MasterPoo

I think I've had my vanquis cc for over 2 years now, first time I've received an increase. Went from £250 to £1000! Sometimes I pay my account in full but lately I've been paying £50 every month and I don't have DD. TY Vanquis

bowring26

Just needed a bit of info. If vanquis card is at £100 what would the minimum payment be???? TIA :-)

ElkyElky

bowring26 wrote: »

Just needed a bit of info. If vanquis card is at £100 what would the minimum payment be???? TIA :-)

Copied from Vanquis:

Your Minimum Repayment will be shown on your statement and will be the highest of:

1. depending on your APR, one of 3.5%, 4.5% or 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; or
2. any interest/minimum finance charge, default charges and any account maintenance fees added to your Account since your last statement plus 1.5% of the remaining balance; or
3. £5.

For further details, please refer to your credit card terms and conditions.