Vanquis transfer

mrtaximan

I have been concerned that Vanquis would not permit me to transfer a balance to my Barclays platinum card.I set up a transfer via the Barclaycard site and now it is showing on my account as a BT.Vanquis should now show a zero balance,But as of today it is still showing the full amount.
Is it just a case of waiting for vanquis to update their records or something more sinister
Standing by to cut up Vanquis cards and close account.

Mark B:D

Maestro.

You might want to phone Barclays. Vanquis are really funny with balance transfers, I know for a fact they do not work to the HBOS group.

bengalknights

Check with both parties it has gone through

mrtaximan

Hi,Yesterday is showed as a pending transaction on Barclaycard.Today it shows as a cleared transaction.I still can't trust Vanquis so I will check again tomorrow

Regards
Mark B:mad:

mrtaximan

Hi.My Vanquis balance is now zero.The BT has cleared from Barclayard.So yes they do BTs to other cards.I have just cut up the Vanquis cards and I am just about to write vanquis a letter to close my account:beer::beer::beer::beer::beer:
Thanks for all the advice

Mark B

mrtaximan

Just phoned Vanquis to imform them that I have now closed the a/c by letter.I was then told that I have to wait until July to get my final statement as there will be a small interest payment due.Once this is paid they will close the a/c.What a b****y cheek considering the interest I have paid them already.I will see what this is before I make a decision to dispute it or not.As far as I am concerned this is just a last gasp attempt to extract as much money as possible.:mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad:

Mark B

balmk

Hi

Don't be too wound up about the interest - they're not pulling a fast one. This will be what is called railling interest and is standard across pretty much all credit card companies.

It shouldn't be a huge amount, but you will need to clear it before they will let you close the account down.

Good news that the BT did go through though, so at least you won't be paying extortiane interest to Vanquis any more :T

fozmcfc

I love these people who slag off Vanquis, conveniently forgetting that when no one else would take them on, Vanquis did :mad::mad::mad::mad::mad::mad::mad::mad::mad:.

Also conveniently forgetting that Vanquis, didn't make them run up a balance each month and pay high interest :mad::mad::mad::mad::mad::mad::mad::mad::mad:

It's called trailing interest, as interested is added daily, there will nearly always be trailing interest, even a few days worth, between the statement being produced and the day the balance is cleared.

There could even be a further bit of trailing interest the month after that, between the day the statement is produced and the balance paid again.

But once the full balance is paid off in 2 consecutive months, then it will be clear.

SnowTiger

fozmcfc wrote: »

I love these people who slag off Vanquis, conveniently forgetting that when no one else would take them on, Vanquis did :mad::mad::mad::mad::mad::mad::mad::mad::mad:.

Also conveniently forgetting that Vanquis, didn't make them run up a balance each month and pay high interest :mad::mad::mad::mad::mad::mad::mad::mad::mad:

It may have been prudent to keep the Vanquis account open, anyway, for day-to-day spending, which would also probably have had a positive impact on OP's credit report. :mad:

fozmcfc

SnowTiger wrote: »

It may have been prudent to keep the Vanquis account open, anyway, for day-to-day spending, which would also probably have had a positive impact on OP's credit report. :mad:

Not sure, the OP may run up the balance again and then blame Vanquis :mad::mad::mad::mad::mad:

mrtaximan

Hi,First I will not run up a balance with Vanquis again.I agree that yes they did help me to rebuild my credit rating and for that I am gratefull but I understood that once a balance was zero that was it.I am just worried that I am now going to be charged a extortionate amount amount of interest to close the a/c.If it is just a small amount outstanding to cover the gap between statements I have no problem.And no I am not blaming Vanquis for anything just pleased that I don't need to use a card with a huge interest rate again.:beer: