Vanquis Cash Withdrawal limit

Cash_Flow

ps10006 wrote: »

hi, thanks for this. The limit is actually 20%. You must understand that if i knew all of the ins and outs of this kind of thing then i wouldnt be asking questions on here so i appreciate peoples input and warnings, just not when they come across as insults. SnowTiger do you know how i go about calculating what kind of interest wud be charged?

Whats your APR?

ps10006

it is 39.9% for cash transactions...

chanz4

The rates of interest in relation to your Account at the time of this agreement
are from one of tiers A, B, C, D, E, F or G below:
Tier A) Purchase/Balance Transfer annual rate 19.94%, Cheque annual rate
29.94%, Cash annual rate 37.58%; or
Tier Purchase/Balance Transfer annual rate 29.84%, Cheque annual rate
39.94%, Cash annual rate 48.29%; or
Tier C) Purchase/Balance Transfer annual rate 34.94%, Cheque annual rate
44.93%, Cash annual rate 53.60%; or
Tier D) Purchase/Balance Transfer annual rate 39.94%, Cheque annual rate
49.94%, Cash annual rate 58.99%; or
Tier E) Purchase/Balance Transfer annual rate 49.94%, Cheque annual rate
59.93%, Cash annual rate 69.62%; or
Tier F) Purchase/Balance Transfer annual rate 59.94%, Cheque annual rate
69.93%, Cash annual rate 80.36%; or
Tier G) Purchase/Balance Transfer annual rate 69.94%, Cheque annual rate
79.93%, Cash annual rate 91.08%.
We will set your interest rates when we open your Account and will tell you
what they are.
3.4 The annual interest rates are made up of: a) the Base Rate plus b) an annual
Margin Rate in respect of Purchase and Balance Transfer Transactions and

an annual Margin Rate in respect of Cash and Cheque Transactions.

chanz4

are you sure your purchase rate isnt 39.9 and you you cash 58.9

MichaelCR

At least he can get a Vanquis card :P They declined me lol

chanz4

Vanquis are strange cookies, never used to accept me and all I had was late payment on an account from 2009 status 3. Now applied for cashback via topcash and gave me £500 with 39.9 haha as if going to use as soon as arrives will activate then say hello mr shredder.

Russe11

car value £8500

selling price £5000

do you work for a charity?

why has someone else internally not brought it yet and took it straight round the dealers?

somthing does not add up, from a glance that is.

KingElvis

Cash on a Vanquis to buy a banger, I wouldn't have guessed you're only 22 LOL

Welcome to the Spiral, see you on DFW soon.

brians_daughter

I wouldnt recommend it but if its such a great deal and you cant miss out I think you would be best placed to see if you can use someones paypal account. Send them the money from your vanquis as a 'paypal gift' then get them to withdraw it (paypal do an express service for a nominal fee, i think, where its in the bank account next working day) This way you wont pay a daily rate of interest and no cash withdrawal fees just take the hit on paypal fees If you are paying it back at the end of the month you wouldnt get hit with interest.

Or failing that would the bank of mum & dad not help out if its such a good deal for you?

housebuyer_abc

brians_daughter wrote: »

I wouldnt recommend it but if its such a great deal and you cant miss out I think you would be best placed to see if you can use someones paypal account. Send them the money from your vanquis as a 'paypal gift' then get them to withdraw it (paypal do an express service for a nominal fee, i think, where its in the bank account next working day) This way you wont pay a daily rate of interest and no cash withdrawal fees just take the hit on paypal fees If you are paying it back at the end of the month you wouldnt get hit with interest.

Or failing that would the bank of mum & dad not help out if its such a good deal for you?

I think the other thing the OP should consider is insurance - if you need a loan for the £900 you'll need another for the insurance. Insurance on a car that desirable at your age will be in the 2-3000 a year range