Vanquis credit card - 39.9% APR

nomoneytoday

There is a company selling mobile phones in the paper offering a "bargain" 102.4% APR :eek

Its about £400 for a handset over 9 months..

roswell

If you pay it off each month it doesnt matter what the APR is does it

inmypocketnottheirs

roswell wrote:

If you pay it off each month it doesnt matter what the APR is does it

Absolutely correct. Without the likes of Vanquis as per previous comments, how do those with an imperfect record regain credit. Or should we be castigated for the rest of our lives?

nomoneytoday

roswell wrote:

If you pay it off each month it doesnt matter what the APR is does it

Usually not, until the time you can't clear the balance because your car broke down (or insert other emergency) and end up paying £££s to these people..

wullieb1

nomoneytoday wrote:

Usually not, until the time you can't clear the balance because your car broke down (or insert other emergency) and end up paying £££s to these people..

Thats why you need to learn to manage your debt.

I won't go into my previous problems here as its not the place but i have a Cap One card with a £200 limit. I have had this limit for the past year and it serves me well. I pay my debt off each month, if i use it, so no interest charges.

I had to pay £200 to get my car fixed the other week and still managed to clear my card.

roswell

nomoneytoday wrote:

Usually not, until the time you can't clear the balance because your car broke down (or insert other emergency) and end up paying £££s to these people..

your making the mistake of assumtions,

if managed correctly it gives you the ability to rebuild your credit history, if you cant pay it off you take the risk of the charges the same as any credit card.

it is irrelivant the apr rate if you pay it off monthly which is the point i was making.

inmypocketnottheirs

nomoneytoday - the idea would be to pay off the card, then use the card to pay the car repairs. No interest paid, plus another (upto) 56 days interest free for the car repair bill. That is what responsible credit card use is for.

Donnie

Vanquis and Provident are one and the same.
They also encompass Yes Car Credit.

http://www.providentfinancial.com/plc/Home.aspx

mickeypops

Donnie wrote:

Vanquis and Provident are one and the same.
They also encompass Yes Car Credit.

http://www.providentfinancial.com/plc/Home.aspx

Mmmm - and Provident were forced to close Yes Car Credit car sales in Dec 05 because of financial losses following tales of appalling customer service highlighted in programs such as Watchdog.

Not exactly a glowing recommendation.....

inmypocketnottheirs

Donnie wrote:

Vanquis and Provident are one and the same.
They also encompass Yes Car Credit.

http://www.providentfinancial.com/plc/Home.aspx

Old news I am afraid. Regardless of this their UK based customer service on the Vanquis card is exemplary. Far better than say Capital One.