Vanquis what was my apr

magpies79

So I’m trying to one tidy up multiple credit cards up that I have open all of them are paid off in full apart from this one I’ve carried a balance on.

Has a £3000 limit always been paid on time never gone over however the apr was horrendous well from what I remember anyway i have just paid off £1,200 have around £150 to pay then it’s done and will close ive looked on statements to find what my apr is but this is all I can find so what is the actual apr on this card would just like to know thanks 

  

born_again

https://www.lemonfool.co.uk/financecalculators/apr-rate-converter.php

magpies79

Thanks much appreciated just checked if I’ve done it right it’s coming back at 59%!!! How
Have I been so lazy and just paid that for Months without noticing is beyond me 

Superhoopza

It depends if that interest rate displayed (3.99%) is simple or compound rate. Usually if displayed as a monthly rate then it is a simple rate, so 59.99% is likely the case. Madness.

CliveOfIndia

Vanquis is one of the sub-prime or "credit-builder" cards, so that horrendous APR is not particularly surprising.  One reason why you should always be aiming to repay in full every month - even more so than with a more mainstream card.

magpies79

CliveOfIndia said:

Vanquis is one of the sub-prime or "credit-builder" cards, so that horrendous APR is not particularly surprising.  One reason why you should always be aiming to repay in full every month - even more so than with a more mainstream card.

Yeah hopefully I’ve had this card for well over 6 years and was my first to build back up a good credit history I’m now at the stage of no missed payments at all for over 6 years on anything but definitely time to get rid of it got a Halifax CC with only £500 limit but just use for my petrol then pay off in full 

CliveOfIndia

It's worth mentioning that, for any credit card, always paying in full is much better for your credit history (not to mention your wallet !) than carrying a balance.

Carrying a balance (as long as you always pay more than the minimum) is not dreadfully bad from a credit history point of view - and certainly nowhere near as bad as late or missed payments.  But paying in full is even better for your track record, and obviously saves you money as well.