We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Paying off my Vanquis card
Comments
-
can someone expolain why vanquis would want to take £500 less than the full amount when borrow is happy to pay it in full?0
-
londonTiger wrote: »can someone expolain why vanquis would want to take £500 less than the full amount when borrow is happy to pay it in full?
If you were cynical then it could be that they consider it a worthwhile gamble to retain a future customer who, with the partial settlement, appears to be a high risk borrower who is not then attractive to mainstream lenders.
A free £500 might seem attractive, but at 40% interest rates then carrying a moderate balance with them for even a few months would see the £500 wiped out in interest charges.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.8K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.5K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards