Gold vanquis card

vintagegirl

Have had my vanquis card for a long time and it has no balance on it.
I have had a new card sent through with an increased credit limit of £2250.

Im not going to run anything up on it, had it purely for credit building and it looks like its done its job

however my question is this
at the top it says

your monthly purchase interest rateis 3.433%
and monthly cash/cheque interest rate is 3.990%

are these the actualy interest rates? it used to be like 34.9%

im confused

Tixy

They are the monthly interest rates, not the APRs.

3.433% monthly is 49.9% APR
3.990% is 59.9% APR.

vintagegirl

thanks, not planning on using it anyway but they dont exactly make it clear

MrSilk

Cards with those APRS should have there limits capped to £500 by law!!!

vintagegirl

i agree, its done its job for me and improved my credit rating but imagine spending £2250 on it??????

:eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek:

CherlokHomes

vintagegirl wrote: »

i agree, its done its job for me and improved my credit rating but imagine spending £2250 on it??????

:eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek:

Spending 2k on a Vanquis card is fine as long as it's paid before the statements due.