Cash interest caused me to go £1.59 overlimit (Vanquis)

mark2200

Okay, just got off the phone with them and the guy on the phone told me that i wasnt late with payment, but i went overlimit. He said overlimit doesnt go against me, but missed payments do.

He also said that as it was overlimit (and not a late payment) i will get a £12 charge, but no markers or anything would go on my credit report- i also asked him to double check with a colleague and he said he checked and they confirmed it to him.


So i assume hes correct right? I mean, they 'should' know surely? I know after reading other threads on here that sometimes their staff can give out incorrect information sometimes:D

rolls99

mark2200 wrote: »

Okay, just got off the phone with them and the guy on the phone told me that i wasnt late with payment, but i went overlimit. He said overlimit doesnt go against me, but missed payments do.

He also said that as it was overlimit (and not a late payment) i will get a £12 charge, but no markers or anything would go on my credit report- i also asked him to double check with a colleague and he said he checked and they confirmed it to him.


So i assume hes correct right? I mean, they 'should' know surely? I know after reading other threads on here that sometimes their staff can give out incorrect information sometimes:D

Yes - he will be correct - since you haven't paid late they can't mark your file that you have - swallow the £12, watch next months' interest (there will be some) - but that shouldn't be a massive amount.

You're hopefully set now just to stretch a good period of greens on your file.

The best advice of course is use it for a token purchase or two every month, and pay it off, then you minimise or remove any interest.

Just don't use the card to withdraw cash :eek:

:beer:

mark2200

rolls99 wrote: »

Yes - he will be correct - since you haven't paid late they can't mark your file that you have - swallow the £12, watch next months' interest (there will be some) - but that shouldn't be a massive amount.

You're hopefully set now just to stretch a good period of greens on your file.

The best advice of course is use it for a token purchase or two every month, and pay it off, then you minimise or remove any interest.

Just don't use the card to withdraw cash :eek:

:beer:

I wont be using it at all until 'hopefully' my mortgage comes through now, i wont risk it:D

But its a huge relief.


Out of interest though, as ive gone 'overlimit', will it display anything on my next credit report (i use Equifax) stating i have? I assume it will still be a green dot like it usually is, but it will be mentioned somewhere i was overlimit? - so the month AFTER my next statement, as ive paid everything off it wont be reported anywhere that i was overlimit?-- sorry if it sounds a bit confusing.



A massive thank you to all of you aswell:beer:

rolls99

mark2200 wrote: »

I wont be using it at all until 'hopefully' my mortgage comes through now, i wont risk it:D

But its a huge relief.


Out of interest though, as ive gone 'overlimit', will it display anything on my next credit report (i use Equifax) stating i have? I assume it will still be a green dot like it usually is, but it will be mentioned somewhere i was overlimit? - so the month AFTER my next statement, as ive paid everything off it wont be reported anywhere that i was overlimit?-- sorry if it sounds a bit confusing.



A massive thank you to all of you aswell:beer:

Great stuff.

You haven't paid late, or defaulted so, in theory all the credit report could show was your balance at £251.59 (if this happened to coincide with Vanquis reporting it), but on the next update it will show what you've paid and a zero (or almost) zero balance - so green.

If you went over between statements it might not even show it, if that makes sense (just your balance either side and payment)

But as you know the balance and payment update once a month, and with no late payments....