Vanquis Help Please!

oscarbuster

I have had a Vanquis credit card for a few months now (I don't have bad credit, just limited credit as in I haven't bothered much with credit in the past)

I had been paying the minimum payment each month for the first couple of statements but after being advised by people on here to pay the balance off in full, that is what I decided to do this month. So I changed my direct debit instruction, and on the due date (Monday there) Vanquis took payment.

I checked my online bank account earlier and noticed that a 'payment reversal' was listed on my transactions from Vanquis. So I checked this on my Vanquis account and it seems they took the money on Monday via DD as arranged but gave me the money back again on Friday.

Although this isn't what concerns me, it's the fact that in BIG BOLD RED LETTERS on the account section of my Vanquis online account it says "YOU MUST PAY £179.20 IMMEDIATELY"

My limit with them is £150 and the balance was £91.33- they've added a £12 fee for a late payment (and I wasn't late paying it, they took the money and then gave it back) , another £12 fee for being over my limit, (How am I over the limit? Even with the added interest, I am still about £50 away from my limit) cash interest is £3.70 and purchase interest is £1.78. BUT I don't fathom how they've arrived at £179.20????

Credit cards are the worse thing I've ever done; I seriously regret getting them because it's actually been more hassle than it's worth. I have a card with Aqua as well and they last month tried to hit me with a late payment fee it turned out all because THEY took my DD a day late- not my fault at all.

I have half a mind just to close all accounts.

Ben8282

Perhaps closing all the accounts would be the best thing for you.
Reading through your various posts on various threads I see that you have at least 3 credit cards all with individual credit limits lower than the initial credit limit I was given when I applied for my very first 'Access' card in 1979 aged 19, although your bank does seem to like you as they have given you a nice overdraft limit. If you expect to keep this limit though you will have to improve the conduct of your bank account and stop bouncing direct debits.
Vanquis did not take the money on Monday by direct debit and give it back on Friday. That sort of thing doesn't happen. What actually happened is your direct debit BOUNCED (ie was unpaid as you had insufficient funds in your account - even with your £1500 overdraft limit - to pay it.) There is no other plausible explanation. The length of time between Monday and Friday represents the time it took them to realise this and re-debit your credit card account with the amount of the failed payment.
If you add together all the figures above including the cash interest (you mean you are using a £150 credit limit Vanquis card for CASH WITHDRAWALS?), the total is £120.81, which is £29.19 short of your credit limit of £150 not 'about £50 away' as you state.
This is where things become a little confusing. If the amount of £179.20 represents your current balance, as I suspect it does, I don't know how they arrived at £179.20 because you have the statement with all the transactions and charges listed in front of you, not me. Everything will be itemised on the statement. My guess, for what it is worth, is that you have used the card since the statement date for further purchases and/or cash advances.
As to why they should be asking for full repayment of the entire statement balance I don't know unless they have closed the account due to the poor way that you have been conducting it.
Concerning what you say about the Aqua card, I have never encountered such a situation arising as a result of the direct debit being taken a day late. This often happens when the direct debit date is a Saturday or Sunday. The amount is always credited to the credit card account with the correct value date. I assume you got it sorted out though as you say that they only 'tried' to hit you with a late payment fee.
The idea of paying by direct debit is to avoid late payment fees but this will only work if there are sufficient funds available in your account to pay the direct debits when they are due. Now, in addition to the late payment and overlimit markers from Vanquis you will have a marker from your bank as well with regard to the unpaid direct debit and the conduct of your bank account. It does not surprise me at all that, as stated in your other thread, Capital One refused to increase the £200 credit limit of your card. Can you really blame them? You say in the other thread that you are not overextended with credit so you really need to do what is necessary to stop these things happening if you ever want the limits increased.

grumbler

Ben8282 wrote: »

... There is no other plausible explanation.

Reportedly, sometimes DDs bounce without any visible reason. Not that I am saying that it really was the case.

If you add together all the figures above including the cash interest (you mean you are using a £150 credit limit Vanquis card for CASH WITHDRAWALS?), the total is £120.81, which is £29.19 short of your credit limit of £150 not 'about £50 away' as you state.

Cash interest is always included into the statement balance, isn't it?
As it's the first time the OP tried to pay in full, the purchases interest (not estimated one) was included too.


It is a possibility that it was some error on Vanquis or the bank's side in which case the fee has to be waived.

fuzzything

Have you spent another £50 on the card since you got the statement? If so, with the late payment charge that takes you over your credit limit.

Perhaps going over the credit limit is what triggered a demand for full repayment.

m4rc

Give them a call so you can find out exactly how they get to that figure - it's unlikely to be wrong although it could be, but at least then you will understand. They may just be trying to rattle you to make a payment, e minimum they will want is he difference between the total owing and your credit limit, plus the minimum payment for the month. Make sure that will then leave enough credit left for them to add next months interest.

They may be able to help you but from what I have read about them Vanquis are not the friendliest bunch to deal with.

The advice you have had a love from Ben8282 is all good, have a good read of it and maybe try and action some of it. Good luck sorting it all out

Anthorn

I had a similar problem: A week before a DD was due I contacted Vanquis and changed the DD from minimum payment to full balance. I expected that to be applied in the following month. But they took the DD for the minimum payment and then reversed it effectively refunding it. That left me with a missed payment which I immediately paid. Then they wanted £12 for late payment, I argued and then they didn't want the £12.

oscarbuster

Ben8282 is there any need to be so obnoxious and insulting? I have NOT conducted ANY of my accounts 'poorly' as you suggest.

My bills are paid in time every month. I may not earn the most money in the world but I earn enough to cover my expenses and anyone I owe money to gets paid when payment is due.

To accuse me of having 'insufficient' funds in my account and as such the 'DD bounced', who do you think you are?? I had and have sufficient funds in my account thanks very much- but with your attitude you'd have people believing that the banks never make a mistake.

I'm pretty new to credit as you have pointed out but that doesn't make me a liability as you have arrogantly implied.

I've spoken with Vanquis this morning and guess what?? Yes they made a mistake and therefore the overlimit and late fees have been rescinded.

I thought the purpose of this forum was for people to seek advice on financial matters, not to be belittled and made to feel second class.

To everyone else who has commented with sensible words, thanks.

No_6

you should have spoken to them first,
before asking on here,
only peoples opinion's are posted,
some good, crap, useless, what-ever