Vanquis Hell

bloc75

Why be a tit?

Just no need for it.

john1002

Not sure why you think they are scum, they provide a service and clearly show the APR that you may get if thinking about taking out one of there cards. You applied and agreed to the terms, they have done what every financial company does and offered a service at a cost.

I have had a card for over 5 years, they were the only ones to give me a chance and I'm grateful as that card helped me get back to prime lending, but I knew from the start not to carry a balance as it would cost me but if I did I was fully aware how much it would cost and what to do to ensure interest was minimal.

I know it is hard but blaming the company that gave you a chance is wrong.

John

PeacefulWaters

CakeCrusader wrote: »

The APR doesn't appear on the statements, they show only a daily APR (helpful, not).

I don't think there's such a thing as a daily APR.

Chrisblue1962

I believe if you read the statements carefully, the APR will be shown somewhere. You could always ring them up or write to them and ask them to confirm in writing what your APR is?

Dobbibill

£4000 is do-able on a decent income.

You've made a mistake, you won't be the first nor the last but you need to learn from it....blaming them as scum is not going to help.

Find out all the information you need like the APR - the more you pay sooner, the less interest you will pay as the capital decreases.

Put together a SOA and throw as much as possible at it.

Make sure you address the reason you used the Vanquis card in the first place.....without addressing that, it's likely to happen again.

[Deleted User]

bloc75 wrote: »

Hi,

I made a big mistake after my IVA was cleared 7 years ago, I got a Vanquis credit card. I also split up with my wife 5 years ago, although it kind of started to fall apart 7 years ago.

So I was on a slippery slope.

I now owe £4,000. I do have a decent paid job, but I am just paying the minimum each month, plus I didn't realise that using it to pay petrol during the month would incur a huge purchase interest rate.

My min payments are around £200, and my purchase interests have been £100. I have no clue what my APR is because conveniently they don't show it on their site.

In short they are sub-human scum, but my fault for thinking it would help my credit score.

I basically need some advice on how to get out of this mess.

Sure I could probably afford to pay £500 per month, but am i still going to be getting a charge of £100 per month?

Any advice???

You didn't think they were "sub-human scum" when you borrowed money from them to start with. Funny that.

CakeCrusader

Sorry, I was tired. The daily interest rate is on the statements, not the APR. The daily interest rates should differ from person to person. They do tend to whack up the APR once a borrower has reached a certain limit though (there's threads on here somewhere), so the APR you started off with may not necessarily be the one that you have now.

They do serve a purpose, but you've ended up in a cycle of only paying the minimum balance off each month, so you feel as if you're peddling uphill with the bicycle chain off.

john2054

They will tell you the apr, if you request for this information politely by email. BTW you can't get a barclaycard atm, despite whatever the prediction says, barclays, like lloyds and the other big high street banks, are sought after, and they can afford to be picky who they lend to!