how can i work out my interest on vanquis

hadahardyear

I havent got my statement yet but paid off quite a bit last month from my Vanquis card and spent a bit.

The monthly payment was made on the 9th of £36.76 and the balance is now £791.61 with available funds of £419.61

They seem to be on the slow side to let me know what next months minimum payment is going to be. does anyone have any idea how i can work it out myself ?

CLAPTON

basically if the apr is Y then your daily interest rate is Y/365

you are charged interest on the sum of the daily balances x Y/365

hadahardyear

thanks that makes my brain explode haha. the apr is 41.3%

oki25

you don't even need to try and work it out, I can tell you without any hesitation exactly what it is, ludicrous, get rid

SnowTiger

hadahardyear wrote: »

thanks that makes my brain explode haha. the apr is 41.3%

That odd amount looks like AER rather than APR.

Anyway, if your statement has been printed and you're waiting for it to arrive in the post you can hear what the minimum payment is by calling 0800 7816314. Option 2, enter card number, enter security number (probably your DOB), then option 2.

You can also view the details online at https://www.evanquis.co.uk/, but there's a charge if you opt for paper billing and online billing.