Vanquis,using card after statements issued?

LadyL85

Hi,I have had a Vanquis card for a few weeks,have £500 limit on it,currently spent 300 on it. My statement was issued yesterday and payment has to be be made for 12th May. I plan to pay balance in full on 5thMay so to avoid paying interest. I am wondering though if I had to continue using my card before I made this payment,would this go onto my next statement (thinking it would) and would I be charged interest even if I pay in full again next statement?

grumbler

If you always pay the balance in full (and don't withdraw cash), all interest is waived.
You can keep spending on it providing that you stay within the limit.

molerat

grumbler wrote: »

If you always pay the balance in full (and don't withdraw cash), all interest is waived.
You can keep spending on it providing that you stay within the limit.

That is the important thing to remember, the limit does not reset until you have paid off the statement balance so at present you can only spend another £200.

CreditCrunchie

I'm interested in this too. My statement was last week and my payment date is 5th May. I have already paid it in full. Do I now have to wait until after the payment due date until I can use it again? I guess what I'm confused about is whether or not extra spending AFTER the statement and AFTER you've paid in full before the due date will incur interest for the statement month?

grumbler

At any time you can use card for spending if the current balance remains below the limit.
To avoid the interest you have to keep paying the statement balance in full every month between the statement date and the payment due date. This is the only condition.

bengal-stripe

CreditCrunchie wrote: »

I have already paid it in full. Do I now have to wait until after the payment due date until I can use it again?

You can continue spending, as long as you stay within your limit. Once you've made a payment and as soon as the payment has been credited to your account, it will lower the (debt) balance and increase the amount you are able to spend.

How long a payment takes to hit your account, depends on the method of payment: a 'Faster Payment' transfer, should reach your account the same day and will show instantly (or with the next day's update); a debit card payment on the CC's website is likely to take 3 days or so and a cheque sent in the post will take a week or more.