Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)

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  1. #1
    Basic Account Holder serenity_uk Novitiate

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    Default Vanquis Bank Minimum Payments

    Hi there

    I have had a Vanquis card for just over 18 months now,
    this is my 1st crediticon card,
    not a good one I know.

    I started off with a limit of 250 and paid the balance off full when it was used.

    My limit went up to 750,
    I went into hospital to have an op and had to have a month of work, t
    he card was up to about 700 and I have been making minimum payments and haven't used the card for around 6 months.

    My balance stands at 803.58,

    I called them and asked how can my balance be going up if im making the minimum payment each month
    and never missed a payment?

    They said that the minimum payment was an estimate of the interesticon you will be charged and payment that needs to be made is actually more.

    Is that right? I am slightly bemused by this.

    Any help would be much appreciated.


  2. #2
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    Default Re: Vanquis Bank Minimum Payments

    Sadly, this type of card is little better than a pay day loanicon - You should always try to pay more than is asked for on the statement - even if it is only 5.00 more.

    It was my understanding that this type of credit had to request the interesticon + an amount in order that the balance is seen to be going down rather than up.


  3. #3
    Basic Account Holder serenity_uk Novitiate

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    Default Re: Vanquis Bank Minimum Payments

    I thought that the minimum payment covered the interesticon and made a small payment off the balance?


  4. #4
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    Default Re: Vanquis Bank Minimum Payments

    It would appear that you have gone over your limit though and the interesticon on that will almost certainly be a problem for you. Have they added any charges to the account as well ?


  5. #5
    Basic Account Holder serenity_uk Novitiate

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    Default Re: Vanquis Bank Minimum Payments

    Quote Originally Posted by citizenB View Post
    It would appear that you have gone over your limit though and the interesticon on that will almost certainly be a problem for you. Have they added any charges to the account as well ?
    Yes 12 charge.


  6. #6
    Basic Account Holder mikeymack2002 Informative mikeymack2002 Informative

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    Default Re: Vanquis Bank Minimum Payments

    Vanquis are nortorious for charging late/over balance fees, this how they make their profit.
    Always challenge their fees use the complaints procedure till the give a final responce then complain to fosicon they may takew up your ase as they have mine and have had some success with this avenue, I'm still disputing several 100's of 's in new charges
    IMHO pay this card off asap cancel the card and stay well away from them. Also are you paying the ROP (repayment option plan) did you ask for it if not get reclaiming come back for more advise

    MM


  7. #7
    Basic Account Holder serenity_uk Novitiate

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    Default Re: Vanquis Bank Minimum Payments

    Hi there

    I was paying it, I have now just cancelled it as it was over 10 per month, and it wasnt asked for. The card I am going to pay off 100 a month until it is clear cut it up and never deal with them again.

    If I could claim back the repayment option plan that would be great, that must be over 100 straight away.


  8. #8
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    Default Re: Vanquis Bank Minimum Payments

    Do you have your statements showing the ROP figures - if so, then simply produce a spread sheet as shown in the link below and send it to their Head office.

    http://www.consumeractiongroup.co.uk...-Viewing)-nbsp

    Just shout if you need any help.


  9. #9
    Basic Account Holder stevenward1982 Novitiate

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    Default Re: Vanquis Bank Minimum Payments

    hello, ive had my Vanquis account for over 10 months. i started of with 500 then got it upto 1000, When it went up to 1000 thats when i started with all the probblems with min payment. One month its 35 then it goes up to 92 then i dont owe anything another month then it goes back to 35 month!! and the these charges 10 month for the repayment option plan and i dont even think ive asked for it!! and latepayment charges even when i paid it on time. Ive been paying 92 month if the min payment was 35 a month so i was all so paying off intrest too but now as im trying to pay off quicker thay are adding fees to it. As its a credit card provider thay have to follow borrowing laws and ive all ready ask the finactial Ombudsmanicon service to look at for me.



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