Vanquis 90 Day

JJM03

Noticed yesterday that my Vanquis 90 Day Issue 2 account had an increase in interest rate (monthly) to 5.37%. It had been reduced to 4.89% in last couple of months. Apparently the increase took place on the 5th Feb. Does anyone know a reason for this? Seems strange.

PeskyBlunder

Could be an error?

Pompeydave1967

Cracking rate if genuine , nowhere near that on website.

JJM03

PeskyBlunder said:

Could be an error?

I thought so too so queried it and they confirmed an increase to 5.37% on 5th Feb. All I can think is that maybe they should have given the full 90 days notice when they reduced the rate in January with very little notice. I doubt it will stay at this rate for long but at least I should benefit from it for the next 3-4 months.

slinger2

I opened a Vanquis 90-day account (issue 6) in early November. On 17 Nov I got an email giving me notification of rate reduction from 5.1 to 5.0% (AER) on 3 Mar 2025, so that's the 104 days as per the T&Cs of my issue.

I can only assume, like you, that they made some sort of mistake for your account.

They've reduced the rate on this account to 4.41% (issue 9). I'm very happy with my rate and yours looks excessively generous.

JJM03

I've got another Vanquis 90 day Issue 7 currently at 5% AER and a 60 day Issue 1 at 4.9% AER. I know Vanquis changed their t&c's on Jan 20th to give 60/90 + 14 days notice instead of 14 days previously with option to withdraw without notice. Maybe they made some sort of error during this transition and had to revert Issue 2 90 day to 5.5% AER. No doubt they will give me 104 day notice on this account very soon!

Frequentlyhere

Just to add to this puzzle, I have a Vanquis 90 day issue 2 account and my interest rate remains at 4.89%, so unless they've changed it overnight then maybe it's an error just on OP's account. Which is a bit weird, but hey.