Balance carried forward

beth0o0

These are the things I purchased with card.


Your Transactions
Up to 14 July 2014

17 Jun 14 CASH TRANSFER £100.00 DR
22 Jun 14 ICELAND INTERNET GB £47.17 DR
08 Jul 14 DEBIT CARD PAYMENT - THANK YOU £147.17 CR
10 Jul 14 IDEAL SHOPPING DIRECT PETERBOROUGH GB £36.00 DR
11 Jul 14 ATM BARCLAYS BANK PLC BYKER GB £30.00 DR
11 Jul 14 CASH ADVANCE FEE £3.00 DR
14 Jul 14 CASH INTEREST £3.68 DR
Current statement balance as at 14 July 2014 £72.68

beth0o0

RECENT TRANSACTIONS ON YOUR ACCOUNT Transaction date Transaction description Amount
12 Jul 14 SKY SUBSCRIPTION 08442411653 GB £55.00 DR
15 Jul 14 PPL*BEACHBODY FITNESS 800-183-0166 CA £22.26 DR
05 Aug 14 DEBIT CARD PAYMENT - THANK YOU £149.94 CR
08 Aug 14 DIRECT DEBIT PAYMENT £5.00 CR
This month you must pay at least £0.00

This month's minimum payment£0.00
This must reach your account by08 Aug 14

grumbler

On the 14th of July you owed them £72.68.

And stop using the credit card for ATM withdrawals unless it's absolutely unavoidable. It's far too expensive.

beth0o0

That was just a one off. so I'm in debt with them of £72.68 I was hoping I would never owe anything if I paid in full what I used each month. obviously not.

SuperHan

It looks as you are paying per calendar month, not statement month. i.e. you are working out what you spent in June, then paying this at the beginning of July, then working out what you spent in July and paying this at the beginning of August.

This is NOT how credit cards are designed to use.

You should spend on your card as you do, and then wait for a statement to be generated. When the statement is generated, then pay the amount that is shown on the statement. Don't pay anything until you have seen this statement amount.

Because of the way you did it, you paid an additional £72 before your statement date that you didn't pay off until a bit later. This could have resulted in interest payable on that amount.

If you always intend on paying in full, ring Vanquis and ask them to take the direct debit in full each month. That way you don't have to worry about making payments, they will all be made automatically with no interest to pay.

SuperHan

beth0o0 wrote: »

That was just a one off. so I'm in debt with them of £72.68 I was hoping I would never owe anything if I paid in full what I used each month. obviously not.

See the last post (I cross posted with this)

You have to pay in full what is in the statement, not what you spend in August, for example

beth0o0

So i wait for the statement to show up for August payment then can I pay the full amount of what I use then. What if I were to pay this £72 next week. would I then not owe.

beth0o0

So my next statement is due 14 Aug shall I wait for that then pay full amount

Nebulous2

beth0o0 wrote: »

So my next statement is due 14 Aug shall I wait for that then pay full amount

That would be the best way to do it. As long as you don't go over your limit before you have paid.

SnowTiger

If this is only for credit building, I would leave only the Sky subscription ticking away on the card and pay every statement in full. And not use the card for anything else.

After four months Vanquis will probably raise your credit limit to something a little more useful.

I think you're going to get yourself in to a mess if you're not careful.