Vanquis card and balance transfer to current account

izools

Kaynem wrote: »

You guys are scaring me more than you should!

Maths is not my strongest subject, but what would be the minimum monthly payment if say an amount of £450 was to be transferred? I intend to pay the balance back after 3 months.

And yes Yorkshireboy, im in that bad of a situation, im afraid.

If you only pay the minimum amount each month it will end up taking you years and cost you hundreds if not thousands of pounds in interest to clear the debt.

Around £15-£25 a mont in interest, pendant on your APR, but the minimum amount is only ever a couple of pounds more than the interest (sometimes just a few pence more) so you're only clearing a miniscule amount of the balance each month - this is why paying only the minimum would cost so much in the long run.

Find another way.