Newby to Credit Cards (Vanquis)

PurpleGoldFish

Afternoon One and All

As the title says I'm a newby to the world of Credit Cards and I've a few questioned for those in-the-know (You).

I'm trying to build up a decent credit history (as are most Vanquis customers) and I'm in a position where I can and I'm going to pay off the balance at the end of every month as to not incur interest.

I've seen on the website "You’ll enjoy 56 days interest-free credit on any purchases that you have made if there is no other balance on the account." - This is telling me I have (virtually) 2 months to pay it off without incurring interest, right?

Is there anything else I need to know as to not get charges/interest etc...

I'm literally just using this card for the nice green ticks on my credit file.

limitation

PurpleGoldFish wrote: »

Afternoon One and All

As the title says I'm a newby to the world of Credit Cards and I've a few questioned for those in-the-know (You).

I'm trying to build up a decent credit history (as are most Vanquis customers) and I'm in a position where I can and I'm going to pay off the balance at the end of every month as to not incur interest.

I've seen on the website "You’ll enjoy 56 days interest-free credit on any purchases that you have made if there is no other balance on the account." - This is telling me I have (virtually) 2 months to pay it off without incurring interest, right?

Is there anything else I need to know as to not get charges/interest etc...

I'm literally just using this card for the nice green ticks on my credit file.

Yes, It means that the first 56 days are interest free from the date of your purchase should you not have any other balances on the account, Although you'll still get your monthly bill/statement of account.

Don't miss any payments, Go over your credit limit, Take cash out from cash machines, Then you won't incur any additional charges.

Best way to use your Vanquis card is to make small purchases, Perhaps a tank of fuel every month or a weekly shop then pay it off in full, You'll build some new green ticks on your credit files, And you'll be allowed credit limit increases in the future !

After a good solid year or two at really maintaining your finances you'll be eligible for better credit cards as potential lenders will see that you can manage you credit accounts with good conduct.

P.s, Interesting name 'Purple Gold Fish' ! I like it haha.

CLAPTON

well really it's 'up to 56 days'

so only if you buy something on the day after the statement date and actually pay at the last possible moment do you get the 56 days interest free

the important thing is to read the statement carefully and pay in plenty of time

giblet10

I like my Vanquis card. They're the only people who would give me a credit card this time last year even though I knew I could be trusted within myself - having been a serious fool in a previous life..

Never had any probs with Vanquis, limit due to increase after this months statement and never paid a penny in interest..