Vanquis....interest free period

Guerillatoker

T-G-C wrote: »

I do not read other posts, however I am implying that closing the account for the sole purpose of not receiving an interest promotion on-demand is throwing a tantrum - on advice of you or not - whether he does or not.

It is not testing the waters, Vanquis are not desperate for his custom, he has been open about using peanut dust of his £4000 limit. Unless he was in debt to them with a nice little earner of interest each month, I doubt pre-closure appeasements would be on their agenda.

It seems he has already asked to close once, with a response that he has to wait until the next statement period. He can attempt to "test the water" but they won't budge on it. Even the fact that the original offer had to be proposed through a member of leadership demonstrates how difficult it is for a representative to generate an appeasement. 3 months is generous for them and I am surprised at that already.

Fair enough. Its been a successful tactic of mine in the past for squeezing more out of creditors or subscriptions, and I suspect many other would say the same.

binaryuniverse

You've got nothing to lose applying for Tesco. At worst you'll get a rejection. Then you know where you're likely to stand with the other providers (Tesco were the only decent 0% card I could get with old defaults on my file). The search history isn't going to mean anything as you're unlikely to apply for anything for a while, if you can't get that.

Sncjw

Can I ask why are you paying interest on a balance of £50.

sparkey1

Yes, I was wondering that. There is no benefit in the customer paying interest. it does not help your credit etc.

dazzaofdagenham

I kinda feel a bit loyal to vanquis....gave me a card when others would not and they have been good to me in raisng my limit to 4K......
I have this idea of leaving a small balance each month to pay them a few quid interest each month.

Bizarre maybe....just shows them I am using the account each month and I use the card.

Sorry

binaryuniverse

It is bizarre. Believe me, the moment you're in a spot of bother, and can't pay them back, they'll be whacking on fees and charges like nobody's business.

They know you are using the account. You pay with it and pay them back. You don't need to pay interest to show activity.

Also, you appear to be under the impression you can only have one card. This is not the case. You can continue also using the Vanquis card at the same time.

fewcloudy

dazzaofdagenham wrote: »

I kinda feel a bit loyal to vanquis....gave me a card when others would not and they have been good to me in raisng my limit to 4K......
I have this idea of leaving a small balance each month to pay them a few quid interest each month.

Bizarre maybe....just shows them I am using the account each month and I use the card.

Sorry

Definitely bizarre.

Pay off in full each month, don't give them a penny in interest, they'll still see you are using the card because, well, you are :doh:

And when I say "they" I mean a banking computer system, no human is looking at your account saying "Oh he's nice, he gives us a few quid interest each month to show his thanks that we gave him an expensive credit card to use when others wouldn't".
It's the same computer system that has upped your credit limit too, based on its logarithms, not nice humans...

dazzaofdagenham

binaryuniverse wrote: »

You've got nothing to lose applying for Tesco. At worst you'll get a rejection. Then you know where you're likely to stand with the other providers (Tesco were the only decent 0% card I could get with old defaults on my file). The search history isn't going to mean anything as you're unlikely to apply for anything for a while, if you can't get that.

Many thanks for this..

Apples for a Tesco purchases card with 0%

Never did I think I would get accepted....got a limit of 2500k with 0% on purchases for 12 months and 1000 clubcard points.

I’m over the moon

dazzaofdagenham

fewcloudy wrote: »

Definitely bizarre.

Pay off in full each month, don't give them a penny in interest, they'll still see you are using the card because, well, you are :doh:

And when I say "they" I mean a banking computer system, no human is looking at your account saying "Oh he's nice, he gives us a few quid interest each month to show his thanks that we gave him an expensive credit card to use when others wouldn't".
It's the same computer system that has upped your credit limit too, based on its logarithms, not nice humans...

Paid it off now....maybe I’m a bit mad..

Assume I’ll have a bit of trailing interest on statement next month....I’m gonna keep account open as I think I’m due a refund of interest on there ROP plan..

Seeing people getting refunds already....not seen any amounts yet

eskbanker

dazzaofdagenham wrote: »

Many thanks for this..

Apples for a Tesco purchases card with 0%

Never did I think I would get accepted....got a limit of 2500k with 0% on purchases for 12 months and 1000 clubcard points.

I’m over the moon

Not surprised you're over the moon with a credit limit of £2.5million, that must be a record!