Vanquis....min payments and overpayments

dazzaofdagenham

Ok I have a vanquis 3K limit

My min payment of 48.70 was due and having a high balance I made a extra payment via a bank

Few days later I checked the online facility and see that the payment had indeed reached my account and the min payment was now indicated as zero.

To my surprise they still took the min payment due in the date in the statement even though the amount indicated was zero.

Thoughts ?

molerat

Read the T&Cs of your account. Many cards will still take the DD unless the account balance is £0.

[Deleted User]

dazzaofdagenham wrote: »

Thoughts ?

Correct. The t&cs tell you whether the lender adjusts the DD in the face of manual payments or not.

dazzaofdagenham

Yes but the min payment amount shown on the online details was reduced to zero..

The_Boss

dazzaofdagenham wrote: »

Yes but the min payment amount shown on the online details was reduced to zero..

My American Express and MBNA online accounts update like that that too but the payment taken is still the full amount of payment due. The reason, as people above have said, is due to the terms and conditions of the card and this will also apply to yours too.

bengal-stripe

The DD is prepared when the statement gets compiled, only to hang around for two weeks or so until it gets sent to the bank in question.Some banks will take the DD regardless (until pulled manually out of the system) others will cancel the DD if the payment arrives at least 5 days prior to the DD due date.

Whichever way the bank operates, there are always people who (like you) were not aware of their card's modus operandi.

planteria

so you had satisfied the 'minimum payment requirement' but once the DD was generated, it went ahead.
i have never used Vanquis, but my Amex card works this way, whereas my Barclaycard is often reduced to no DD at all. it is just a matter of understand the system that your card provider(s) is using.
calling them to query would probably give you a clear understanding, if you insist on speaking to someone who knows what they are talking about, aswell as the Terms & Conditions.

The_Boss

Yep, Barclaycard is a classic example where payments at least a few days before the DD reduce the payment to be taken (Halifax also spring to mind).

dazzaofdagenham

I understand what's being said here...

But if I make a manual payment onto my account and then the online service shows a min payment as zero

Then do I not have reason to believe that the min DD will not be taken

The_Boss

dazzaofdagenham wrote: »

I understand what's being said here...

But if I make a manual payment onto my account and then the online service shows a min payment as zero

Then do I not have reason to believe that the min DD will not be taken

It does not supercede your terms and conditions, as annoying as it may be (it caught me out with MBNA about 2 years ago and I was very annoyed).

dazzaofdagenham

Would the same also apply if

Each month I had opted to pay the full balance by DD

Then I made a manual payment of the full amount

Would the DD still go ahead and therefore put me in credit on my card ?