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Paying off my Vanquis card
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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
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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
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