vanquish...new customer few qestions!

richie33_2

just got my first credit card with a £500 limit.

right not sure how this statement thing works so ill try and get my qestion out as clearly as i can.

if say i get my statment on the 20th feb with nothing owing and i buy something on the 21st do i pay on next monthes statement!

and do i always get my statement on the same day? or is it only when i purchase something?

also were do i look for my apr!!?

Saints2011

richie33 wrote: »

just got my first credit card with a £500 limit.

right not sure how this statement thing works so ill try and get my qestion out as clearly as i can.

if say i get my statment on the 20th feb with nothing owing and i buy something on the 21st do i pay on next monthes statement!

and do i always get my statement on the same day? or is it only when i purchase something?

also were do i look for my apr!!?

Just so you know its spelt Vanquis

A statement is always a months in arrears (roughly) so anything im spending at the moment I wont need to pay until March. It will clearly show whats due on your statement and by when.

You should set up a direct debit for the full balance so that you do not get charged interest at 39.9%APR or higher.

Your APR will also be shown on your statement and maybe your IBanking account as well (not sure on that though with Vanquis)

If your new to credit cards check this link