Vanquish credit card

wayne5393

Hi,
I have just been accepted for a vanquish credit card.
This is my first ever one and I am a little unsure about how they work.
I intend to use it then pay the full balance off straight away and keep doing this till I get better credit. However if I don't use the card at all do i still get like a monthly charge? Also do I get charged any interest if I pay off the bill straight away?

Thanks, Wayne

the_insider

If you pay the full balance every month you won't pay any interest. But if you miss a month and pay less than the total amount you will pay interest until you have paid two months in a row in full.
Vanquis don't pay a non-usage fee as far as I know, and as long as you clear it every month then it's a good way to start building your credit rating. You should use it for things that you would usually buy with cash or your debit card though otherwise you might get into a bit of trouble. My partner uses his for fuel and we clear it every month.

KingElvis

Set a DD to pay off the total bill each month and it's no different to the top of the range cards in respect of interest.

Run a balance onto the thing at 59.9% or whatever they're charging this week and you'll be in a whole lot of pain.

Amazing how many people have "emergencies" that HAVE to be paid for when they first get hold of these God forsken cards.

wayne5393

Thanks for the help guys!