Vanquis reached credit limit card declined

WLITC

So annoyed with myself. Checked my card yesterday and had about £280 to spend. Spent quite a bit shopping on clothes the last two days and then I go to pay for a latte at Starbucks and the card gets declined. So I log in and it says 0.00 available to spend.

So what does that mean? I used the card earlier that day a few times, last transaction for £20 and that went through ok. Could I have exceeded my limit and if not, does a decline go against you? Should also mentioned before the decline I have about £50 credit awaiting clearance from Asos (they processed refund on Thu and said should take 5 days) plus I took about £40 of stuff back today so that is pending to go back on the card.

Finally if I make a payment tonight online (I'm currently out at the moment) will that help things?

Davie2909

You will need to pay a fair chunk and bring the card back within its credit limits! A declined payment wont go against you credit file wise however the provider may not increase your limit if you continue to sail close to the limits in such a way

UsetheFORCE

WLITC wrote: »

So annoyed with myself. Checked my card yesterday and had about £280 to spend. Spent quite a bit shopping on clothes the last two days and then I go to pay for a latte at Starbucks and the card gets declined. So I log in and it says 0.00 available to spend.

So what does that mean? I used the card earlier that day a few times, last transaction for £20 and that went through ok. Could I have exceeded my limit and if not, does a decline go against you? Should also mentioned before the decline I have about £50 credit awaiting clearance from Asos (they processed refund on Thu and said should take 5 days) plus I took about £40 of stuff back today so that is pending to go back on the card.

Finally if I make a payment tonight online (I'm currently out at the moment) will that help things?

If you have no available credit, you could be in line to be overlimit with a £12 charge on its way. Obviously this depends on exact dates transactions post to your account and you do have refunds coming as well!

Moral of the story, don't sail too close to your limit if you can help it and keep an eye on your spending!!!

A decline doesn't go against you BUT getting your card declined would imply there is an issue which may or may not cause you further problems!

WLITC

Davie2909 wrote: »

You will need to pay a fair chunk and bring the card back within its credit limits! A declined payment wont go against you credit file wise however the provider may not increase your limit if you continue to sail close to the limits in such a way

UsetheFORCE wrote: »

If you have no available credit, you could be in line to be overlimit with a £12 charge on its way. Obviously this depends on exact dates transactions post to your account and you do have refunds coming as well!

Moral of the story, don't sail too close to your limit if you can help it and keep an eye on your spending!!!

A decline doesn't go against you BUT getting your card declined would imply there is an issue which may or may not cause you further problems!

Thanks both, just paid £100 to the account also worked out that there are at least £117 in refunds to get processed too. I'm pretty annoyed with myself as I'm normally very careful. Anyway I guess no point in stressing about it, its done. Will give them a call in the morning to see exactly how over I am and what it'll mean for the account.

Simon7685

You haven't mentioned what your limit on the card is, which to be fair is nobodys business but your own anyway. However if I were in your position I would be thinking more along the lines of you have probably gone over, so expect the charge of £12 being levied. More of a concern though will be the amount of interest you could be getting stung for on your next statement.

If you are anywhere close to the limit, I bet your minimum payment will be one figure but the amount of interest they hit you with will probably outweigh the amount of your min payment. A lot of people miss that trick, all CC companies play it.

To paint a clear picture, when I got my Vanquis statement on 01 May my spending that month was £320. The balance brought forward was £0.00 because I always pay it in full but my minimum payment on the £320 was £14.41. However the estimated interest if I only paid the minimum was £24.18. So after paying I would have been worse off and owed more than I started out owing, if you get the drift.

Thankfully I paid in full as always so it didn't matter but that is a typical example of how CC companies get you spiraling into more and more debt.

You have had a warning of how easy it is to get out of control. Heed the warning and if you can't clear the card completely, hit it hard until it is cleared, so you don't end up going down the wrong road that a lot of people that use this forum have gone. Easy to get on the road but a long way to get back off it again.

Sorry that all sounds a bit judgemental but having been there it is easy to see how quickly it gets out of hand, in your case starting with a latte, can't remember what started mine all those years ago............

WLITC

Turns out my card wasn't declined because I'd exceeded my limit but because it of excessive transactions in a short period. Opps, shopping spree! All sorted.

Simon7685

Glad you managed to get it sorted and you hadn't gone over your limit, that must be a relief. I would still throw some money at though if I were you, as if you are carry a balance on a Vanquis card, it can easily all go pear shaped very quickly.

Entirely your choice of course but this forum is littered with people who have ended up in the mire through a Vanquis card.