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Cash Interest Vanquis Bank
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CharlotteElizabeth
Posts: 49 Forumite

in Credit cards
Hello,
Please can someone tell me what this is? I don't take cash out on my credit card cos of the massive cost of doing so - but each month I have been charged cash interest at 3% a month. Is this something I should be paying? It's not tons, but if they shouldn't be charging it then I want it back off them!
I have just had a letter saying that my credit limit is going up to £2500 - is this because i'm finally paying my older debts off? ( I have cleared one, one is nearly done (£200 left) and the other is a bit hefty but going down each month.
Please can someone tell me what this is? I don't take cash out on my credit card cos of the massive cost of doing so - but each month I have been charged cash interest at 3% a month. Is this something I should be paying? It's not tons, but if they shouldn't be charging it then I want it back off them!
I have just had a letter saying that my credit limit is going up to £2500 - is this because i'm finally paying my older debts off? ( I have cleared one, one is nearly done (£200 left) and the other is a bit hefty but going down each month.
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Comments
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What are you using your card for? Some transactions count as cash.0
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I get a Birchbox beauty box each month on DD and pay for petrol each week from Tesco!
I'm looking at getting flights soon so it will come in useful - although it does have a 37% interest rate which I think is high but I doubt I would get a better rate and have the credit limit not at £5000 -
Where are you seeing the cash interest being charged? Are you clearing in full each month? What are your cash and purchases rates?0
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On my transaction statement - I'm being charged purchase interest of £11 and Cash Interest of 45p.
I haven't been paying it off in full like normal for past 2 months as I spent quite a bit on avoiding a CCJ by putting it on the card but been paying hefty amounts (£200/£300 a month) to get it down.
There is nothing on there about me withdrawing cash from a cash machine.0 -
Any gambling, currency, paying credit, National Lottery, etc?0
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Nope, literally online order and tesco petrol station sometimes.
This month has just been a Birchbox and been using my debit card for petrol
Purchase Interest is: 2.84%
Cash Interest is: 3.43%
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You'll have to give them a call. I'm out of ideas.0
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