Vanquis Bank Repayment option plan.

[DorisDay1]

:confused:A cagger suggested that I post a new thread with reference to this issue.

 

My mother (82) has been sold a credit card by this company,

she is elderley and really doesn't understand the difference between a credit and a debit card

and she has withdrawn cash on the card, you can imagine the charges!.

 

What really made things worse was that she was sold something they call the repayment option plan,

and on a balance of 1702.62 she was charged £20.02 on top of the interest charged of £75.22.

 

I am tempted to pay the card off but I am reluctant to do so until I can find out what the repayment option plan is and get the money back.

 

A phone call to the bank informed me that it was not an insurance policy and therefore does not come under PPI

 

i ahve requested a list of ALL charges and would love to get the ROP back.

 

Apparently it comes into effect when thee customer is unable to pay through illness etc.

So my mother is paying into a pot to ensure that Vanquis aren,t out of pocket if she is unable to pay through illness or the death of a close family member.

 

The full details are a little sketchy and I am waiting for clarification on them

but basically they are refusing to give me the list of insurance charges because they say there aren't any.

 

I don't think they shoul have sold her the card anyway but really would like to expose this back door insurance.

[SOD'EM]

Surely if she is paying something that covers her at times of hardship through illness etc, then that is PPI?????

 

Here's a copy of Vanquis' Terms & Conditions. I don't know which specific section you should read, but it should be here somewhere.

Otherwise, it seems you are getting told porkies.

 

 

 

 

Vanquis Credit Card

 

This is a copy of your agreement for you to keep. It includes a notice about your cancellation rights which you should read.

CREDIT CARD AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974

1. Parties

 

 

• 1.1 "We", "us", "our" means Vanquis Bank Limited whose registered office is at Colonnade, Sunbridge Road, Bradford, West Yorkshire BD1 2LQ; and
  
• 1.2 "You", "yourself", "your" means the person signing this agreement and whose name and address is stated on the Reply Card or your application.
  

Key financial information

 

 

• 2.1 We will set your Credit Limit when we open your Account; this is the maximum amount that you can borrow and/or spend on your Account (‘Credit Limit’). If we reasonably consider it appropriate (e.g., depending on how your Account is run and/or whether your financial circumstances have changed), we may increase or decrease your Credit Limit from time to time and will notify you of any such change. If you do not agree to any increase of your Credit Limit, please notify us by writing to Vanquis Card, Customer Service, P.O. Box 399, CHATHAM ME4 4WQ.
  
• 2.2 There will be a limit on the amount of cash that you can withdraw each day, which will be 20% of your Credit Limit (‘Daily Cash Withdrawal Limit’). We may change the Daily Cash Withdrawal Limit from time to time and will notify you of any such change.
  
• 2.3 You must make a minimum monthly repayment (‘Minimum Repayment’) to your Account each month. We will tell you which Minimum Repayment is applicable when we open your Account. Your Minimum Repayment is one of the following:
  
  • 2.3.1 3.5% of your outstanding balance or £10, whichever is the greater, plus any ROP transaction charge accrued on your Account; or
    
  • 2.3.2 4.5% of your outstanding balance or £5, whichever is the greater, plus any ROP transaction charge accrued on your Account; or
    
  • 2.3.3 5% of your outstanding balance or £5, whichever is the greater, plus any ROP transaction charge accrued on your Account.
    

  In every case you must pay off the outstanding balance shown on your statement if it is less than £5.

  [*]2.4 We may vary your Minimum Repayment. If we vary your Minimum Repayment we will write to you to tell you.

  [*]2.5 Your Minimum Repayment must be received by us by the date shown on your monthly statement (‘Repayment Due Date’).

  [*]2.6 The (variable) APR in relation to your Account at the time of the agreement is one of the following:

  • Tier A) 19.9% APR (variable);
    
  • Tier B) 29.9% APR (variable);
    
  • Tier C) 34.9% APR(variable);
    
  • Tier D) 39.9% APR(variable);
    
  • Tier E) 49.9% APR (variable);
    
  • Tier F) 59.9% APR (variable).
    

   

  [*]We will tell you which APR is applicable to your Account when we open it.

Other financial information

 

 

• 3.1 The annual interest rate (compounded) and the total charge for credit in relation to your Account at the time of the agreement is from one of the tiers A, B, C, D, E or F below. The total charge for credit is based on a Credit Limit of £1,500 which you borrow in full at the start of the agreement and is repaid in full by you making 12 equal monthly repayments beginning one month after the start of the agreement. The total charge for credit is made up of interest and (in the case of cash) a Cash Transaction fee as shown below for each tier. Each figure for the total charge for credit set out below assumes no cash is borrowed. All interest rates are variable:
  
  • 3.1.1 Tier A) Purchase/Balance Transfer Transaction annual rate 19.94%, Cheque Transaction annual rate 29.95%, Cash Transaction annual rate 33.97%, Cash Transaction fee 3%/£3. Total charge for credit £153.02 or
    
  • 3.1.2 Tier B) Purchase/Balance Transfer Transaction annual rate 29.95%, Cheque Transaction annual rate 39.94%, Cash Transaction annual rate 44.27%, Cash Transaction fee 3%/£3. Total charge for credit £223.78 or
    
  • 3.1.3 Tier C) Purchase/Balance Transfer Transaction annual rate 34.94%, Cheque Transaction annual rate 44.94%, Cash Transaction annual rate 49.42%, Cash Transaction fee 3%/£3. Total charge for credit £257.85 or
    
  • 3.1.4 Tier D) Purchase/Balance Transfer Transaction annual rate 39.94%, Cheque Transaction annual rate 49.94%, Cash Transaction annual rate 54.57%, Cash Transaction fee 3%/£3. Total charge for credit £291.09 or
    
  • 3.1.5 Tier E) Purchase/Balance Transfer Transaction annual rate 49.94%, Cheque Transaction annual rate 59.94%, Cash Transaction annual rate 64.88%, Cash Transaction fee 3%/£3. Total charge for credit £355.37 or
    
  • 3.1.6 Tier F) Purchase/Balance Transfer Transaction annual rate 59.94%, Cheque Transaction annual rate 69.51%, Cash Transaction annual rate 74.75%, Cash Transaction fee 3%/£3. Total charge for credit £416.94.
    

   

  [*]3.2 If you make a Promotional Rate Transaction, the promotional rate will apply until the end of the promotional period unless you breach the terms of your agreement with us at which point the standard rates set out in paragraph 3.1 above or as may be notified to you from time to time will apply. Please note that the preferential terms will not be restored to your Account, even if you rectify any breach by bringing your Account in order.

  [*]3.3 There is no annual fee.

  [*]3.4 In calculating the APRs, no account has been taken of any variation which may occur to the interest rates (Base Rate and/or Margin Rates) or fees under this agreement.

  [*]3.5 The annual interest rates are made up of:

  • 3.5.1 the Base Rate; and
    
  • 3.5.2 an annual Margin Rate in respect of Purchase and Balance Transfer Transactions and an annual Margin Rate in respect of Cash Transactions and Cheque Transactions.
    

   

  [*]3.6 Interest is charged on transactions at the interest rates detailed above from the date of any Purchase, Cash, Cheque and/or Balance Transfer Transaction(s) or any other amount charged to your Account, until repayment in full. Interest is calculated on the daily outstanding balance on your Account and, except in respect of Purchase Transactions where you have paid off two or more consecutive current statement balances in full each month, is debited to your Account at the end of each statement period. At statement date, we will add the interest we charge to the outstanding balance on your Account. This means that you will generally pay interest on interest.

  [*]3.7 If in any statement period you incur interest (excluding ROP Charges) and that interest is less than £1, a minimum finance charge of £1 will be added to your Account in place of that interest which will be waived.

  [*]3.8 You can get up to 56 days interest free credit on Purchase Transactions provided that you pay off two or more consecutive current statement balances in full by the Repayment Due Dates. In respect of Purchase Transactions on your first statement, you will be charged interest from the transaction date until the end of the first statement period but, if you pay off your first statement balance in full, you could get up to 28 days interest free credit.

  [*]3.9 We will only charge simple interest on Default Charges. We will not charge any interest on a Default Charge for 28 days starting from the date that we give you notice that the Default Charge has been charged to your Account.

  [*]3.10 We may change your Margin Rate for any valid reason including, but not limited to:

  • 3.10.1 your credit score e.g., when revising your Margin Rate we may take into account the information you gave us in your application, information we have on how you are using your Account and/or information we get from credit reference agencies;
    
  • 3.10.2 economic reasons affecting our business as a whole;
    
  • 3.10.3 changes in the cost of providing a service to you; and/or
    
  • 3.10.4 changes or potential changes in the law or a code of practice.
    

   

  [*]3.11 If you require details of how we use your credit score for changes in your Margin Rate, please contact us at Vanquis Card, Department DF, P.O. Box 408, Chatham, ME4 4WZ.

  [*]3.12 We will give you at least 30 days prior written notice of any such change if the change is to your disadvantage.

  [*]3.13 Your interest rate may also change in accordance with changes in the Base Rate. Any such changes will be reflected in the Account Statement sent to you in the month following any such Base Rate change.

  [*]3.14 Where you are not repaying the whole of the outstanding balance on your Account, your repayments to us will be credited to your Account in the following order:

  • 3.14.1 Balance Transfer Transactions and Promotional Rate Transactions;
    
  • 3.14.2 interest/minimum finance charge, fees and/or Default Charges;
    
  • 3.14.3 Purchase Transactions;
    
  • 3.14.4 Cheque Transactions;
    
  • 3.14.5 Cash Transactions.
    

   

Key information

 

 

• 4.1 If you breach this agreement we may charge you for the following administrative costs:
  
  • 4.1.1 if we have not received your Minimum Repayment by the Repayment Due Date, a charge of £12 (‘Late Payment Charge’);
    
  • 4.1.2 if the balance of your Account is over your Credit Limit, a charge of £12 (‘Over Limit Charge’). You would also be charged this Over Limit Charge in each subsequent month that your Account remains Over Limit;
    
  • 4.1.3 if you pay us by cheque or direct debit, and the payment is not honoured, a charge of £12 (‘Return Payment Charge’);
    
  • 4.1.4 if you pay a third party using a Vanquis credit card cheque and you do not have sufficient credit available, we may have to return the cheque unpaid to the third party. If we do so we will charge you a fee of £12 (“Returned Credit Card Cheque Charge”);
    
  • 4.1.5 if you move and you do not inform us of your new address and we have to trace you, a charge of £25 (“Tracing Charge”); and/or
    
  • 4.1.6 any other reasonable expenses we incur as a direct result of your breach of this agreement.
    

   

  [*]4.2 We may change any of the above Default Charges. We will give you at least 30 days’ notice, unless the changes are to your advantage.

  [*]4.3 Other fees that may be charged are set out in paragraph 5.1.

Missing payments

 

Missing payments could have severe consequences and make obtaining credit more difficult.

Your right to cancel

 

Once you have signed, you will have for a short time a right to cancel this agreement. You can do this by sending or taking a WRITTEN notice of cancellation to Vanquis Card, Customer Service, P.O. Box 399, Chatham ME4 4WQ.

If you cancel this agreement, any money you have paid must be returned to you. You will still have to repay any money lent to you. But if you repay all of it within one month after cancellation, you will not have to pay interest or other charges.

Important - Read this carefully to find out about your rights

 

The Consumer Credit Act 1974 lays down certain requirements for your protection which should have been complied with when this agreement was made. If they were not, we cannot enforce this agreement without getting a court order.

The Act also gives you a number of rights:

 

• 1) You can settle this agreement at any time by giving notice in writing and paying off the amount you owe under the agreement.
  
• 2) If you received unsatisfactory goods or services paid for under this agreement, apart from any bought with a cash loan, you may have a right to sue the supplier, us or both.
  
• 3) If the contract is not fulfilled, perhaps because the supplier has gone out of business, you may still be able to sue us.
  

If you would like to know more about rights under the Act, contact either your local Trading Standards Department or your nearest Citizens’ Advice Bureau.

Theft, loss or misuse of credit card

 

If your credit card is lost, stolen or misused by someone without your permission, you may have to pay up to £50 of any loss to us. If it is misused with your permission you will probably be liable for ALL losses. You will not be liable to us for losses which take place after you have told us about the theft, etc. as long as you confirm this in writing within seven days.

Please send this confirmation to Vanquis Card, Customer Service, P.O. Box 399, Chatham ME4 4WQ.

If your card is lost, misused or stolen, please call Customer Service immediately on 0800 783 9003 to report it.

Other terms

 

5.1 Other fees

 

 

• 5.1.1 In respect of each Cash Transaction, we will charge a fee of 3% of the Cash Transaction amount or £3, whichever is the greater (‘Cash Transaction fee’).
  
• 5.1.2 We will charge a fee of 2.99% of the amount of any non-sterling transaction made abroad (‘Foreign Transaction fee’). The exchange rate on which this fee will be calculated is set by VISA and will be the exchange rate on the date the transaction is processed and may be different from the date of the actual transaction. Please note that you will be charged both a Cash Transaction fee and a Foreign Transaction fee if you withdraw money abroad.
  
• 5.1.3 We will charge a fee of £5 to your Account for each copy statement issued to you upon your request.
  
• 5.1.4 If you dispute a transaction and the transaction you dispute is in fact a valid transaction, you will incur a £5 fee if we investigate upon your request.
  
• 5.1.5 We may change any of the ‘Other Fees’ by giving you at least 30 days notice for a valid reason set out in paragraph 15.
  

6. Your repayments

 

 

• 6.1 You will be liable for the amount of all transactions, interest/minimum finance charges, fees and any applicable Default Charges payable under this agreement.
  
• 6.2 Any amount which takes you over your Credit Limit and/or any arrears shown on your monthly statement must be repaid to us in full immediately.
  
• 6.3 A repayment by you to us will be credited to your Account. However, we reserve the right to withhold authorisation for a transaction on your Account until your repayment has cleared through the banking system. We will only accept that you have paid any money you owe us when we receive your payment as cleared funds. Please ensure that you allow enough time for your payment to clear through the banking system.
  
• 6.4 All repayments from you must be made in pounds sterling from a UK bank.
  
• 6.5 Any cheque repayments made to your Account must have your Account number clearly marked on the back of the cheque.
  
• 6.6 You cannot use a claim against a supplier or retailer as a reason for not making payments to us. You must continue to meet your Minimum Repayment even if you have a dispute or claim against a supplier or retailer or us. Failure to pay your Minimum Repayment may result in your Account going into arrears and will result in default information being recorded against you with credit reference agencies.
  

7. Additional cardholders

 

 

• 7.1 If you request, we may issue a Card and Personal Identification Number (PIN) to the person you nominate (‘Additional Cardholder’). We may charge you for this service and we will notify you of any charge before providing you with the service.
  
• 7.2 You must make sure that the Additional Cardholder has consented to you giving us their details and is at least 18 years old.
  
• 7.3 All transactions carried out by the Additional Cardholder will appear on your statement, will be included in your outstanding balance and you are responsible for repayment of all transactions. You must make sure that the Additional Cardholder uses their Card in accordance with these terms and conditions and follows any instructions we give you about Card security and giving information to us. You understand that we cannot control how Additional Cardholders use the Account. You will be responsible for all use of their Card (and Cheques if applicable), including any use which results in a breach of this agreement.
  
• 7.4 You can ask us to cancel an Additional Cardholder’s Card at any time but you will remain responsible for its use until it is returned to us.
  

8. Using your account

 

 

• 8.1 When we have opened your Account, we will send you and any Additional Cardholder a Card and PIN. The Card may only be used by the person whose name is on the Card. You may not use the Card until you have activated it by contacting us. The Card may be replaced from time to time with either the same type of Card or a different Card, which will be covered by the terms of this agreement.
  
• 8.2 The Card may be used for:
  
  • 8.2.1 Purchase Transactions; and
    
  • 8.2.2 Cash Transactions.
    

   

  [*]8.3 You must only use your Card within the ‘valid from’ and ‘expires end’ date on the Card.

  [*]8.4 We may send you our Cheques, which can only be used by you. You may only make Cheque Transactions in sterling and must not use one of our Cheques to make a payment to us. If you do not want to receive Cheques, please notify us by writing to Vanquis Card, Customer Service, P.O. Box 399, CHATHAM ME4 4WQ, or by calling 0871 770 5555.

  [*]8.5 You must not use your Card or our Cheques in a way that would take your Account balance over your Credit Limit. If you use your Card or our Cheques for Cash Transactions, you must not make withdrawals that are over your Daily Cash Withdrawal Limit.

  [*]8.6 You cannot use our Cheques in places where a cheque guarantee card is required. Your Card is not a cheque guarantee card.

  [*]8.7 Cards and Cheques belong to us. If we ask you to return them to us, you must do so immediately. We can also ask a merchant (e.g., a shop or petrol station) to keep your Card and return it to us.

  [*]8.8 When deciding whether to allow a transaction to be processed, we may take into account any transactions that have already been made or authorised on your Account and any interest and fees or Default Charges payable under this agreement.

  [*]8.9 You or an Additional Cardholder must not use a Card for any illegal purpose. If you or an Additional Cardholder do so, you will be responsible for such use and may be required to reimburse us and/or VISA (or another payment scheme provider) for all amounts which we or they incur as a result of such use.

  [*]8.10 You should not make payments that put your Account into credit. If you do so, we will not pay any interest.

9. Restricting use of your account

 

 

• 9.1 If you are in breach of this agreement or we have valid reasons for doing so (e.g., we suspect fraud) or the Repayment Option Plan has been activated by you, we may: refuse to authorise a transaction; cancel or suspend use of your Card; refuse to replace your Card; or return an Account Cheque unpaid. We shall not be responsible for any losses you incur as a result.
  

10. Statements

 

 

• 10.1 We will normally send you a monthly statement. Your statement will contain details of transactions, payments, refunds, interest/minimum finance charge, fees and any Default Charges applicable to your Account since your last statement.
  
• 10.2 If you do not agree with any item on your statement, you must notify us of the reason for your dispute without delay and in any event within 30 days of the date of the statement in which the transaction appears.
  

11. Looking after your account, card and PIN

 

 

• 11.1 You and any Additional Cardholder must:
  
  • 11.1.1 sign the issued Card(s) immediately on its receipt;
    
  • 11.1.2 keep the Card(s) and Cheque(s) secure;
    
  • 11.1.3 memorise your PIN, keep it secret, and destroy the paper slip upon which the PIN has been printed;
    
  • 11.1.4 comply with our reasonable instructions regarding use or change of the PIN (e.g., for security reasons);
    
  • 11.1.5 inform us immediately by telephoning 0800 783 9003 if you suspect that anyone else knows your PIN; and/or
    
  • 11.1.6 inform us immediately by telephoning 0800 783 9003 (or +44 161 444 4495 if calling from outside the UK) if you lose your Card or Cheques, or you suspect that they have been stolen. You must confirm this notification to us in writing within 7 days to Vanquis Card, Customer Service, P.O. Box 399, CHATHAM ME4 4WQ;
    
  • 11.1.7 not allow anyone else to use the Card(s) or Cheques;
    
  • 11.1.8 co-operate with us and the police to recover losses, and to investigate any unauthorised transactions.
    

   

  [*]11.2 We may ask for proof of your identity when we consider it necessary for security reasons.

12. Limits to our liability

 

 

• 12.1 We will not be liable to you if we cannot carry out our responsibilities under this agreement due to reasons outside our reasonable control e.g., due to fire, flood, strike action or for electronic failure such as machine, data processing system or data transmission links.
  
• 12.2 We will not be liable to you for any refusal or delay by any person to accept your Card, PIN or Cheque.
  
• 12.3 We will not be liable to you for any loss of profit or damage to your reputation.
  

13. Closing your account

 

 

• 13.1 You can notify us at any time that you wish to close your Account by writing to us at Vanquis Card, Customer Service, P.O. Box 399, CHATHAM ME4 4WQ or by telephoning 0871 770 5555.
  
• 13.2 We may close your Account for any reason by giving you at least 30 days written notice.
  
• 13.3 We may close your Account immediately:
  
  • 13.3.1 if you die; or
    
  • 13.3.2 if you have a bankruptcy or receiving order made against you; or
    
  • 13.3.3 in exceptional circumstances, such as where your Account has been used for an unlawful purpose.
    

  You (or your representative) will be required to repay us any amounts you owe to us.

  [*]13.4 Where we have given you notice or you have given us notice, this agreement will only formally end when:

  • 13.4.1 you have paid all amounts you owe to us under this agreement, including the amount of any transactions appearing on your Account after the notice has been given; and
    
  • 13.4.2 you and any Additional Cardholder have returned to us all Cards and Cheques cut in two to the address above.
    

   

  [*]13.5 If your Account is in credit at the time of closure, we reserve the right not to repay to you any amount less than £5 due to administrative costs.

14. Notices

 

 

• 14.1 You or the Additional Cardholder must let us know immediately if:
  
  • 14.1.1 your or their Card or Cheques become lost or stolen;
    
  • 14.1.2 your or their PIN is likely to be misused or has been disclosed;
    
  • 14.1.3 your statement includes any information that seems wrong;
    
  • 14.1.4 you change your name or address. If you fail to inform us and we have to trace you, we may charge a Tracing Charge, as set out in paragraph 4.1.5. You should also keep us informed of any changes to your telephone or mobile number and/or your email address. We may request copies of documentation certified by a solicitor or notary public as proof of any change to your name; and/or
    
  • 14.1.5 you want to end this agreement.
    

   

  [*]14.2 It is also important to tell us of any changes to your financial circumstances.

  [*]14.3 You can notify us by writing to Vanquis Card, Customer Service, P.O. Box 399, CHATHAM ME4 4WQ or by telephoning 0871 770 5555. We may ask you to confirm in writing any notice you give us by telephone.

15. Varying this agreement

 

 

• 15.1 We may vary the terms of this agreement, or introduce any other related term to this agreement, including any charge or any fee provided under this agreement:
  
  • 15.1.1 if the change is in your favour;
    
  • 15.1.2 to amend an error;
    
  • 15.1.3 to make them easier for you to understand;
    
  • 15.1.4 if your product changes, or we introduce new services or features to your Account;
    
  • 15.1.5 due to changes in your financial position based on changes in your credit rating or risk (we may take into account any failure by you to make payments on time or at all to us or other banks or lenders);
    
  • 15.1.6 to reflect changes in market conditions such as system capabilities, methods of operation, changes in technology, fraud prevention requirements and /or payment methods;
    
  • 15.1.7 due to good banking or financial services practice(s);
    
  • 15.1.8 due to changes in the cost of providing the service to you; and/or
    
  • 15.1.9 if the law or a code of practice changes or is likely to change or a requirement is made by a regulatory or trade body or we decide to implement a code of practice.
    

   

  [*]15.2 We will provide you with at least 30 days written notice before any change takes effect (unless the change is in your favour, in which case we may make the change immediately and tell you about it within 30 days of adopting the change).

  [*]15.3 We may from time to time offer you a lower promotional interest rate on certain transactions including Balance Transfer Transactions, for a specified period (‘Promotional Rate Transactions’).

  [*]15.4 You may close your account without having to pay any extra charges or interest at any time up to 60 days from the date of our notice if the change is to your disadvantage. A change may become immediately effective if it is to your advantage.

  [*]15.5 We may from time to time change the payment scheme provider we use for your Account and if we do so we will issue you with a different card which may have a different account number, different branding or be part of a different card acceptance scheme. We will tell you about any changes to the terms in accordance with this paragraph 15.

  [*]15.6 We may transfer your Account to a different credit card product. We will always give you notice in accordance with this paragraph 15. We will only transfer your Account to a different credit card product if it is lawful to do so.

General

 

 

• 16.1 You cannot transfer this agreement or your rights or obligations under this agreement. We may transfer this agreement or any of our rights or responsibilities to any company or person who is licensed under the Consumer Credit Act 1974 e.g., if our business was sold to a third party.
  
• 16.2 We may instruct any other person to exercise our rights or carry out our responsibilities under this agreement e.g., we could instruct a debt collection agency to assist in recovering any amounts owed to us.
  
• 16.3 We may waive any of our rights under this agreement without losing them e.g., if we accept a part payment from you, we will still be able to claim the full amount owed by you.
  
• 16.4 We may at our discretion waive any fees or Default Charges.
  
• 16.5 Telephone calls may be monitored and all calls will be recorded for the purposes of quality control, confirmation of the accurate execution of transactions, resolution of disputes, training and/or fraud prevention.
  
• 16.6 Our consumer credit licence number, issued by the Office of Fair Trading, is 532364. The Office of Fair Trading regulates consumer credit lending. In addition, we are authorised and regulated by the Financial Services Authority to accept deposits and carry out insurance mediation under registration number 221156. The Financial Services Authority is responsible for the regulation of the financial services industry.
  
• 16.7 This agreement is governed by English law and all contractual terms and conditions and information supplied in this agreement are supplied in English. We will communicate with you in English.
  
• 16.8 If you have a complaint about the service you receive, please write to Vanquis Card, Customer Service, P.O. Box 399, CHATHAM ME4 4WQ and your complaint will be dealt with in accordance with our Complaints procedure. If we cannot resolve a complaint to your satisfaction you may refer your complaint to the Financial Services Ombudsman at South Quay Plaza, 183 Marsh Wall, London E14 9SR or at http://www.Financial-Ombudsman.org.uk.
  
• 16.9 If any term or part of a term in this agreement is ruled by a court to be invalid, illegal or unenforceable, then this invalidity, illegality or unenforceability will not affect any other term in this agreement.
  

Your personal information

 

 

• 17.1 We will process, by computer or otherwise, personal information about you whilst we are assessing your application and/or managing your Account (‘Your Information’). We may have obtained Your Information from: you; credit reference agencies; fraud prevention agencies; other Provident Financial group companies; third parties specialising in data verification; or marketing lists provided to us by other third parties.
  
• 17.2 We may search your credit record at credit reference agencies in relation to your application or for managing your Account, and they will supply us with credit and/or identification information. Details of our search will be added to their records whether or not your application is successful. Credit and identification information about you and those with whom you are financially linked, which is provided to us and credit reference agencies, may be used by us and other companies to make credit decisions about you and other members of your household. Where we use a third party to verify any information we have about you, any of this information may also be used for identification purposes, debt tracing and prevention of money laundering, as well as the management of your Account. We will update Your Information with any data we receive from a third party where they have provided us with a data verification search.
  
• 17.3 When assessing your application, we may use credit scoring or other automated decision making facilities.
  
• 17.4 We will, on a regular monthly basis, provide details of the performance of your Account to credit reference agencies. This information may be used by other companies to make decisions about credit and credit-related services for you and other members of your household.
  
• 17.5 We may use Your Information for behavioural scoring and market and product analysis and generally to learn from the way you use and manage your Account, including from your transactions and from the payments made to your Account. What we learn about how you use your Account and from information we receive from credit reference agencies may be used to determine the Margin Rate we apply to your Account from time to time.
  
• 17.6 If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies.
  
• 17.7 Law enforcement agencies may access and use this information.
  
• 17.8 We and other organisations may also access and use this information to prevent fraud and money laundering, for example, when:
  
  • 17.8.1 Checking details on applications for credit and credit related or other facilities;
    
  • 17.8.2 Managing credit and credit related accounts or facilities;
    
  • 17.8.3 Recovering debt;
    
  • 17.8.4 Checking details on proposals and claims for all types of insurance; or
    
  • 17.8.5 Checking details of job applicants and employees.
    

   

  [*]17.9 Please contact us at Vanquis Card, Department DF, P.O. Box 408, Chatham, ME4 4WZ if you want to receive details of the relevant fraud prevention agencies.

  [*]17.10 We and other organisations may access and use from other countries the information recorded by fraud prevention agencies.

  [*]17.11 For the purposes of managing your Account, credit assessment and analysis, and to provide other products and services to you, Your Information may be shared within the Provident Financial group and outside the group to:

  • 17.11.1 our agents, processors and sub contractors;
    
  • 17.11.2 any of our approved suppliers;
    
  • 17.11.3 the police, if required by law;
    
  • 17.11.4 any relevant regulatory authority, if required by law; and/or
    
  • 17.11.5 anyone to whom we transfer or may transfer our rights and duties under this agreement.
    

   

  [*]17.12 If you were introduced to us by a third party, we may give them your contact details and sufficient information about you for their own business and statistical analysis. This may include specific information about whether we declined or approved your application and how you use and manage your Account.

  [*]17.13 If you require details of Provident Financial group companies or the credit reference agencies we use, please contact us at Vanquis Card, Department DF, P.O. Box 408, Chatham, ME4 4WZ. You have a legal right to these details.

  [*]17.14 We may contact you by post, telephone, automated dialling, email or mobile text and/or voice messaging service about products or services relating to your Account or application.

  [*]17.15 Where you consent, we may send you marketing information or contact you for marketing purposes about other products and services that may be of interest to you. We will do this by post, telephone, automated dialling, email, mobile text and/or voice messaging service, or other forms of communication.

  [*]17.16 Where you consent, we may disclose Your Information within the Provident Financial group or to other carefully selected companies for marketing purposes. Any of these companies may then contact you about their products or services.

  [*]17.17 If you do not want Your Information to be used for marketing purposes, please write to our Customer Service department Vanquis Card, Customer Service, P.O. Box 399, Chatham ME4 4WQ or telephone us on 0871 770 5555. You have a legal right to prevent Your Information being used for direct marketing purposes.

  [*]17.18 We may process Your Information in countries outside the United Kingdom and European Economic Area (EEA). If so, we will make sure that Your Information receives no less protection than is required in the EEA.

  [*]17.19 You have a right to receive a copy of the information we hold about you if you apply to us in writing to Vanquis Card, Customer Service, P.O. Box 399, Chatham ME4 4WQ. We will require you to pay us a £10 fee. You are also entitled to request that any inaccurate information be amended or deleted.

Other definitions

 

We have given a particular meaning to the words which begin with a capital letter. These meanings are explained where they occur in this agreement or in this paragraph 18.

 

• 18.1 ‘Account’ – the credit card account that we open and maintain in your name.
  
• 18.2 ‘Base Rate’ – means the base lending rate which is set by the Bank of England as quoted in the Financial Times/ Financial Mail from time to time.
  
• 18.3 ‘Balance Transfer Transaction’ – means the transfer of all or part of an account balance from another financial institution to your Account.
  
• 18.4 ‘Card’ – means any Visa credit card we issue to you or any additional cardholders under the terms of this agreement and is not a cheque guarantee card.
  
• 18.5 ‘Cash Transaction’ – means:
  
  • 18.5.1 the withdrawal of cash from a cash machine, or financial institution, displaying the Visa sign;
    
  • 18.5.2 purchases of currency and cash related transactions, such as purchases of travellers cheques, money orders and money transfers including directly to your personal bank account; and
    
  • 18.5.3 Gambling Transactions.
    

   

  [*]18.6 ‘Cheque’ means a cheque that we may provide to you from time to time on your Account.

  [*]18.7 ‘Cheque Transaction’ – means a transaction paid for with a Cheque or a transfer of money on your instructions which is charged to your Account, as the case may be.

  [*]18.8 ‘Default Charges’ – Late Payment Charge, Over Limit Charge and/or Return Payment Charge, Returned Credit Card Charge and Tracing Charge and any other default charges as may be set out in paragraph 4 and as may be notified to you from time to time.

  [*]18.9 ‘Gambling Transaction’ – means:

  • 18.9.1 the use of your Card or your Card number to take part in any form of gambling such as gaming, betting or participating in a lottery; and
    
  • 18.9.2 a transaction where payment is made to an establishment reasonably identified as carrying on a gambling business (where gambling has the meaning set out in paragraph 18.9.1) and is charged to your Account, whether or not the transaction itself finances participation in gambling.
    

   

  [*]18.10 ‘Margin Rate’ – means the difference between the annual interest rate(s) and the Base Rate.

  [*]18.11 ‘Over Limit’ – where you exceed your Credit Limit.

  [*]18.12 ‘Purchase Transaction’ – means a transaction with a merchant displaying the Visa sign, for goods and/or services paid for with your Card.

  [*]18.13 ‘ROP’ – means the Repayment Option Plan service we may provide to you from time to time.

  [*]18.14 ‘Reply Card/application’ – the application form requesting us to open an Account for you on these terms and conditions, which you complete, sign and return or submit to us.

Repayment option plan terms and conditions

 

General

 

 

• 1. "We”, “us”, “our” means Vanquis Bank Limited whose registered office is at Colonnade, Sunbridge Road, Bradford, West Yorkshire BD1 2LQ.
  
• 2. “You”, “yourself”, “your” means you, the existing Vanquis credit card account (“Account”) customer.
  
• 3. The Repayment Option Plan (“the Plan”) is not a regulated insurance product and will not pay off any capital or interest on your Account.
  
• 4. We do not provide advice or a recommendation on whether the Plan is suitable for your purposes.
  
• 5. We have given a particular meaning to the words which begin with a capital letter. These meanings are explained in this agreement.
  
• 6. The Plan is provided to you as a monthly contract and is renewed each month unless terminated in accordance with paragraphs 24 to 27.
  
• 7. Telephone calls may be monitored and all calls will be recorded for the purposes of quality control, confirmation of the accurate execution of transactions, resolution of disputes, training and/or fraud prevention.
  
• 8. This agreement is governed by English law and all contractual terms and conditions and information supplied in this agreement are supplied in English. We will communicate with you in English.
  

Cost of enrolment

 

 

• 9. If you are in full-time, part-time or temporary employment or are self-employed, the cost of the Plan will be charged at the rate of £1.29 per £100 (1.29% per month) of your monthly outstanding balance (‘Plan Charge’). This is known as the Full Plan.
  
• 10. If you are unemployed or retired, the cost of the Plan will be charged at the rate of £1.19 per £100 (1.19% per month) of your monthly outstanding balance (‘Plan Charge’). This is known as the Standard Plan.
  
• 11. We will charge the Plan Charge directly to your Account each month.
  

Difficult financial circumstance

 

 

• 12. ‘Difficult Financial Circumstance’ means one of the events listed below or where a series of connected events listed below occurs in relation to both the Standard Plan and the Full Plan:
  
  • 12.1 you become sick, disabled or have an accident which affects your ability to make your repayments; or
    
  • 12.2 you have to stay in hospital because of a medical condition; or
    
  • 12.3 you have to attend jury service; or
    
  • 12.4 your main home is significantly damaged by a natural disaster e.g., flooding; or
    
  • 12.5 your partner (who you have lived with for more than 6 months) or an immediate family member (sibling, parent, spouse or child) dies;
    and in relation to the Full Plan means also:
    
  • 12.6 you become unemployed involuntarily (other than as a result of your own misconduct);
    
  • 12.7 you take leave from work to care for a partner (who you have lived with for more than 6 months) or a member of your immediate family (sibling, parent, spouse or child) and suffer loss of income; or
    
  • 12.8 you go on maternity, paternity or adoption leave.
    

   

Activating the plan

 

 

• 13. We agree that under the terms of the Plan we will:
  
  • 13.1 freeze your Account balance in the event of a Difficult Financial Circumstance on the terms set out in paragraphs 14 - 20; or
    
  • 13.2 allow you to take a payment holiday on the terms set out in paragraphs 14 and 21 - 23.
    

   

  [*] 14. If you wish to freeze your Account or take a payment holiday you must call the Plan helpline on 0871 770 4188. The Plan helpline is available between 8am and 8pm Monday to Friday and 9am and 5:30pm on Saturday.

Freezing your account

 

 

• 15. If you experience a Difficult Financial Circumstance we will freeze your Account for as long as the Difficult Financial Circumstance continues to apply, up to a maximum period of 24 months per event (or series of connected events).
  
• 16. If we freeze your Account under the Plan you will not be obliged to make any repayments or pay any charges.
  
• 17. If we freeze your Account you will not be able to use your Vanquis Card or Account.
  
• 18. Once your Account is frozen, no interest or fees will accrue.
  
• 19. After the Difficult Financial Circumstance ceases to apply or after 24 months (whichever is sooner), interest will accrue again and you will be obliged to continue your repayments and pay any applicable fees and charges that accrue on the Account.
  
• 20. We will require you to provide us with reasonable evidence of the Difficult Financial Circumstance when you contact us to activate the Plan and at any time during which the Plan is activated.
  

Payment holiday

 

 

• 21. We will allow you to take a payment holiday under the terms of the Plan if (i) your Account has been open for at least 6 months, (ii) you have not taken a payment holiday within the last 6 months and (iii) you are not in breach of the terms and conditions of your Account.
  
• 22. If you wish to take a payment holiday and are eligible under paragraph 21, you must give us at least 7 days notice prior to the due date for making your minimum monthly payment on your Account which will allow you to miss making that minimum monthly payment.
  
• 23. Interest will continue to accrue on your Account and will not be suspended during any payment holiday.
  

Cancelling / Changing the plan/ Keeping up to date

 

 

• 24. You must notify us by calling 0871 770 4188 if your financial circumstances change after taking up the Plan (e.g. you become retired) and you need to be moved from the Full Plan to the Standard Plan or from the Standard Plan to the Full Plan.
  
• 25. You can cancel the Plan at any time. If you cancel the Plan within 30 days of receiving the information on the Plan and the Plan has not been activated, you will receive a refund of the Plan Charge (if any) charged to your Account. If you wish to cancel the Plan you can call 0871 770 4188 or write to Customer Service, P.O. Box 399, Chatham ME4 4WQ.
  
• 26. We may cancel the Plan by giving you 30 days written notice. We may cancel the Plan immediately for exceptional circumstances, or if we believe the Plan is being misused, for example for reasons of fraud.
  
• 27. The Plan will cancel immediately for the following reasons:
  
  • 27.1 if your Account is closed; or
    
  • 27.2 if you die.
    

   

Varying this agreement

 

 

• 28. We may change this agreement, or introduce any other related term to this agreement:
  
  • 28.1 if the change is in your favour;
    
  • 28.2 to amend an error;
    
  • 28.3 to make the agreement easier for you to understand;
    
  • 28.4 if we introduce new services or features to the Plan;
    
  • 28.5 to reflect changes in market conditions such as system capabilities, methods of operation, changes in technology, fraud prevention requirements and /or payment methods;
    
  • 28.6 due to good banking or financial services practice(s);
    
  • 28.7 due to changes in the cost of providing the service to you;
    
  • 28.8 if the law or a code of practice changes or is likely to change or a requirement is made by a regulatory or trade body or we decide to implement a code of practice; and/or
    
  • 28.9 any other valid reason.
    

   

  [*]29. We will provide you with at least 30 days written notice before any change takes effect (unless the change is in your favour, in which case we will make the change immediately and tell you about it within 30 days of adopting the change).

SMS service

 

 

• 30. As part of the Plan we offer you an SMS text message service, at no additional cost (“the SMS Text Service”).
  
• 31. Under the SMS Text Service you will be eligible for a text message each month, at no additional cost, which will contain information on your Account.
  
• 32. The SMS Text Service terms and conditions will apply to this facility.
  
• 33. If you elect to take the SMS Text Service, further information will be sent to you at that time.
  

Important information

Call charges

 

Calls to 0871 numbers will be charged at 7p per minute from a BT landline. Calls from mobiles and other networks may vary.

NP-TA-16 02/10

[Rob111]

I work for Vanquis Bank and therefore understand the ins and outs of ROP

Repayment Option Plan is an optional feature on the account

to summarise

• You can freeze the account for up to 2 years if:
  
• EMPLOYED PLAN( unemployed involuntarily, sick disabled or accident which affects your abiltiy to make payments etc...
  
• the full features are read out over the phone and in the t&cs
  
• the cost for employed = £1.29 for every £100 on the statement each month
  
• UNEMPLOYED = £1.19 for every £100 likewise
  
• You can also take a payment holiday (miss a payment) once every 6 months provided the account is 6 months old and in order
  

 

It is not PPI because you can only freeze the account, and so interest wont continue to grow

Insurance is when you receive a payout for a policy. with this you just basically put the account on Pause for up to 2 years whilst you get your life back on track.

 

Hope that helps!

[dx100uk]

that is still PPI!!!

 

you are charging someone a monthly fee to 'protect' the CC

 

dx

[rebel11]

Thread moved.

[Rob111]

that is still PPI!!!

 

you are charging someone a monthly fee to 'protect' the CC

 

dx

 

 

I'm not biased towards Vanquis because I think ROP is a waste of money if i'm being honest...

 

But PPI stands for Payment Protection Insurance... Insurance = A contract between an insurance company and a person or group which provides for a money payment in case of covered loss, accident or death

 

there is no money payment involved its a plan - which legally allows the customer to be entitled to no further interest build up or repayments necessary for up to 2 years... there is nothing they have legally done wrong, this isn't miss selling it is NOT insurance

 

e.g. you crash your car, car INSURANCE = pay out for damages

 

ROP = you become unemployed involuntarily = you freeze the account so that interest wont build up further... then in 2 years time, you still have to pay back the balance etc... on the account pre-activating ROP.

[dx100uk]

you are being hoodwinked

 

monument had the same thing

 

as did barclays

 

you need to do some research on the fos website.

 

both were deemed ppi [in sheeps clothing]

 

it can be reclaimed under mis-seling rules and it can be done so with the interest vanq charged!

 

btw: if you are to officially represent vanq, you need to ask admin to make you a company rep and get your co's permission to do so.

 

dx

[Rob111]

I'm a colleague i'm no legal advisor... not being funny but the plan is pretty clearly set out... although i admit most people take it out because we say 'If you have no balance on your statement, you wont be charged.' and most people interpret that as ''if i pay off my balance in full each month, its free'' whereas they are sorely mistaken...

 

the product isnt ppi its quite clear, provident and vanquis are very clever in that sense, although human error and agents can miss sell ROP so its worth listening out over the phone you you take it out just incase