Applying for my first credit card with bad credit.

Zoie

I need some help, I have been refused for a few credit cards and im about to apply for the Vaquis card (29.8% APR).

Im very new to the whole credit card business and all of the wording that comes with it. Im only getting the card to get my credit rating up.

Could someone please tell me if i purchased something for say £100 and payed the full amount of when the bill was due, would that mean i dont pay any interest or would i still pay some?.

Sorry for the silly question like i said im very new to this

trikidy

No, if you pay off your balance in full each month, spend £100, pay £100, on time, £100 is all you will pay.

Zoie

Thanks Trikidy!

jason1231972

Zoie wrote: »

I need some help, I have been refused for a few credit cards and im about to apply for the Vaquis card (29.8% APR).

Im very new to the whole credit card business and all of the wording that comes with it. Im only getting the card to get my credit rating up.

Could someone please tell me if i purchased something for say £100 and payed the full amount of when the bill was due, would that mean i dont pay any interest or would i still pay some?.

Sorry for the silly question like i said im very new to this

There's Aquis and Vanquis (confusingly, both provided by Vanquis Bank, which is part of the Provident, the doorstep loans people. Horrible APRs, but otherwise a legit business). Aquis = about 30% APR, Vanquis = about 40% APR.

Anyway, with careful management, you needn't pay any interest at all on a credit card, no matter what the APR. Good luck.

leicsmarkyr

You will pay interest if any transaction is deemed as cash, eg ATM withdrawal, betting, foreign currency.

As long as it is a 'normal' purchase eg groceries, petrol etc no interest would be incurred if previous statement paid in full by due date