Warning for anyone who goes over a Vanquis card

camuk81

Just thought I would post a warning as I've had a very irate call with Vanquis.

When I set up my card they didn't set up my direct debit and charged me the protection amount.

I will admit I made an error by not checking the direct debit was in place. As soon as realised I made a payment however it had thrown me over my limit.

Several charges and repayments later looked at my bill and I have just discovered I am being charged what they call default interest. This is interest for going over the limit! This is applied every month despite being within my credit limit!

Hope this can serve as a warning for anyone else

bengalknights

What does that appear as on your credit file?

Does it say settled or balance owed or something

chanz4

It should only be charged for a max 2 statments if paid in full

camuk81

Not paid in full I'm afraid. This being a lower apr card then one of my other cards was put as second priority to pay off!

Foolish move.

Its on the bottom of the statement. Because Vanquis have two ways of working out interest it gets very confusing so there is billed deferred for anything bought between your Jan to Feb statement and not paid off in March. Then purchase interest for anything before that.

default runs all the time you owe anything! Guess which card I'm clearing first, Is it any wonder people berate them so much on this board!

Hazzinho

You must have missed a number of payments to default and ignored statements. Most cc companies don't set up a DD you have to set it up your self.

Road_Hog

Hazzinho wrote: »

You must have missed a number of payments to default and ignored statements. Most cc companies don't set up a DD you have to set it up your self.

Vanquis certainly ask you to set up a DD, either minimum payment or full payment. I don't know how reliable they are at doing it (I don't have their card, but my cousin does - I'll have to ask him).

With this sort of card, my advice would always be to set up a DD. It stops late charges and you can always cancel it online (with your bank) when you need to.

camuk81

As part of their welcome call to assess you and sell you their protection product you are asked to set up a direct debit, which I duly did.

At the same time I declined their protection product which is similar to repayment protection but not exactly the same it was this that pushed me over and I was late by ten days on the first payment! It was me who phoned them as I hadn't seen a payment go out.

giblet10

They are known on here for taking DD details, telling you they'll be set up and then failing to take on first statement - that's why I never bothered with setting it up when I got mine - I pay by faster payments when the statement arrives...

Simon7685

They set up a DD on my account when Itook out the card, it was during their call to me to tell me I had been accepted. It was set up and I declined their repayment option. I checked and the DD was in place within 10 days of the call. I have always paid in full within a few days of getting my statement online. I find that this is the best way, if you pay when the statement arrives there are no worries about missing the payment date and I would advise anyone with Vanquis to operate it this way.

camuk81

After finally arguing the toss for 3 months and finally being told this will happen every month, the card will be cleared by next week. Then cancelled 6 months after for credit file purposes

Gmac2011_2

Vanquis are quick to blame but not to accept blame.
A little while ago I made an additional payment by cheque which duly cleared my bank, but did not show on my Vanquis account. I rang and explained but was told I was mistaken and never sent the cheque in the first place. I got a copy of the cleared cheque with my Vanquis account no on the back and sent it as proof.
Eventually my account was credited but with no apology for their error.