Vanquis - Not happy

misscutiepie1984

:mad: Finally managed to get a mainstream card with balance transfers. Great news apart from Vanquis dont allow you to transfer the balance.

So im stuck with £600 at 34.08% now it seems they are increasing that apr to 41.20%.... has this happened to anyone else?

many thanks

Amy

SwissLe

Doesn't make sense. Did your new credit card issuer tell you this? Which card have you gone for?

ElkyElky

Yes it has infact. I tried transferring the balance from Vanquis to BOS One card and wouldn't allow it. I'm not sure why,

misscutiepie1984

my new card issuer told me they are having problems with vanquis so would do a manual transfer.... weeks later nothing happened so i phoned up vanquis they said they dont allow balance transfers but do accept payments, this would show up as a cash transaction!!!!

SwissLe

Who is the new card issuer?

misscutiepie1984

Nationwide - They have allowed other balance transfers from capital one

SwissLe

They don't do SBT either! I shall see if I can find something in the Vanquis terms about this ...

misscutiepie1984

sorry whats SBT?

SwissLe

The only thing I can find that might suggest you can't do a balance transfer to a new card would be:

"6.4 All repayments from you must be made in pounds sterling from a UK bank"

However I assume Nationwide are using a UK bank and paying in pounds sterling into your account. I would give Vanquis a call and ask why this has happened.

SBT = Super Balance Transfer, if you had a MBNA card then you can balance transfer into your credit account and then use it to pay off overdrafts, loans etc with the same terms as a balance transfer.

michaelvintner

Ask your new supplier if they issue balance transfer cheques. Make sure they are not credit card cheques though. They are different.

Ask them if you can pay the balance transfer cheque into your bank account and then make a manual payment to Vanquis.

I would call Vanquis a bunch of W*nkers but I don't think they are intelligent enough to manage it.

misscutiepie1984

oh right.... just found this on a website so I guess here is our answer


Now for the worst point! If you do get a competitive card offering 10-15 months 0% interest on balance transfers & you feel the great weight lift off your shoulders as you realise you can transfer your vanquis balance to your new card & not pay any interest for that length of time then think again! Vanquis disallowed my balance transfers! You must pay it as a card payment & it will show up as a cash transaction on your new card! Surely something can be done about this?