Vanquis Refund Offer - No interest and punitive 'options'. Any advice?

laxxxmi

I claimed £84 in charges from Vanquis. Today, 14 days after claiming, I received a letter offereing me a full refund....but...it doesn't include interest. Obviously, at an average of 45%, this is a lot of money to me.
And.... obtain full and final, they have given me two options.....

1) Close my account and repay at my current rate - 41.2%pur. and 47.89 cash (which is most of it!) or....
2) Keep my account, have it fee free, but pay £25 a year!! and, best of all my interest rates will be 54.9 and 59%!!! That, in my opinion is criminal.

Now I don't need my Vanquis card - I got a brilliant Coop simple account with a Visa debit card - no overdraft. I also have a Cap 1 card. (I was desparate 2 years ago and owe £500)

So, I'd really appreciate some advice. Can I reclaim interest, would they in peoples experience accept an interest-frozen repayment plan and should I take my complaint to the FO
Thank you in advance -

alfred64

I would simply take what they have offered you and then close the account and cut up the card.

sharpy2010

Whether you believe it to be criminal or not, it's almost definitely going to be legal.

Your best option is as Alfred64 said above.

laxxxmi

Thanks guys, I guess it's better than nothing.