vanquis credit card

johnnicola

ive recently received my credit card and received my first months statement, i would like your help ,on my statement it says payment date due(17th february) and next statement date (22 nd february)....... so am i correct in saying payment date is 17th february in which i needed to make at least the minimum payment?.My second point is i will get a statement to say i owe nothing if ive paid everything off on the 22nd february ??

johnnicola

Also what happens if my balance is £0 on the 17th february but then spent £30 on my card on say the 19th february,what would it say on statement dated 22 nd february?

redcard

Just pay off your full balance when your statement comes in.

It really is that simple.

bigadaj

Payment needs to be made by 17th February by your description, but some payment methods take longer to go through, so aim to pay it say 3 days before. Set up a direct debit for at least the minimum payment, or total payment if you can afford it.

Your payment on 17th is your January spend, your February spend then comes on the 22nd statement which you'll need to pay by mid march, again you have yo pay the minimum payment and if you clear it all then you won't pay any interst so long as you paid in full the previous month.

Shorehamirv

Can anyone recommend a card to transfer a vanquis card over to?

LittleVoice

johnnicola wrote: »

ive recently received my credit card and received my first months statement, i would like your help ,on my statement it says payment date due(17th february) and next statement date (22 nd february)....... so am i correct in saying payment date is 17th february in which i needed to make at least the minimum payment?.My second point is i will get a statement to say i owe nothing if ive paid everything off on the 22nd february ??

If you haven't sent the payment for the first month's statement, do it now (at least the minimum but preferably the full amount). Payment receipt needs to be recorded by them no later than Monday, so don't delay. The payment not only has to leave your account but also be recorded by them against your account. AIUI the faster payments system does not guarantee receipt within the same day (especially if you haven't already sent a payment to that recipient your bank may be slow to action it) and Vanquis have to process it too.

The next statement date is after the payment date in order that it can record what payment you have made and what interest you are being charged if you did not pay it off in full. It will show your balance as zero if you have got the full balance to them by Monday and made no purchases after the last one recorded on that first statement.

Too late for this payment but for the future - if possible set up a Direct Debit instruction with Vanquis to take the full amount. It is then up to them to claim the payment. You simply have to make sure the money is in your bank account. Be aware that they may collect before the stated due date. I say this because whilst Barclaycard and Halifax take payment on the due date, I have noticed that Luma take it a couple of days in advance of it.

prat_2

You need to make the minimum payment by the 17th, which means you need to actually see the money leave your bank a few days before. My Vanquis statements take a while to show up. You can save yourself a lot of hassle by using the pay by card button on the Vanquis website too.

They won't charge you if your balance is 0, but it's always worth checking because they've been known to make mistakes. They're also likely to phone you up and tell you to start using the card or cancel the account after a while.

My credit card maths is a bit wonky (or maybe all credit card maths is a bit wonky) but I think if you spent between your payment date and your bill calculation date it would depend on how quickly the retailer took the money. If it shows up as gone before your bill is calculated, you'll have to make a payment on the 17th of March, but if the retailer is a bit slow like some small shops or some places on Amazon it might not be payable until April.

The best thing you can do is keep on top of it, check your eVanquis regularly and as others have said, spend little and pay often. One final thing - it's your responsibility to make sure the payment reaches them on time. They're known to be a bit fudgey on direct debits and even trying to pay them by transfer is a nightmare, I think the pay by card option on their website is by far the easiest way to pay.