Vanquis making up interest charges when trying to close account?!

[b1gdeano]

Hi,

 

My other half has a Vanquis card that she was using to build her credit rating

 

Long story short she was paying off a £1700 balance at a whopping 60% APR!!!

 

After finding out she was paying at least £100 a month and accruing £80ish interest a month I have loaned her the money to clear the balance off and she will pay me the £100 a month instead

 

She rang up to clear the balance this morning, which she did, but when she said she wants to close the account the agent told her she is unable to do that as she still owes two months interest on the previous months balance?!

 

What on earth is that about? Is that legal?

 

How on earth can someone owe two months interest on last months balance when above and beyond the minimum payment has been made each month and never missed?

 

I feel they are making it up to stop the closing of the account, which is damn cheeky seeing as they have just received £1700 in cash!!

 

I have no doubt the sneaky ****s will add a "deferred interest charge" to the account for something like £160 - though I am sure this isnt right or legal! The balance has been paid!

 

Is there any advice out there for this?

[citizenB]

Interest should be added monthly, I dont see how there can be 2 months interest outstanding ?

[b1gdeano]

Thats what I thought also

 

They frequently add deferred interest charges to her account, which they fail to explain properly - she did manage to get them removed the one time by ringing them up and kicking off at them

 

They try to explain this by stating the 52 day interest free period at the start of a purchase, when it doesn't get paid they add the first 52 days interest to the balance as "deferred charge"

 

That in itself sounds dodgy to me, as other cards have this period also but I never get this charge on my cards, just they usual monthly interest after the period is over

 

Anyhow - that still wouldn't explain two months interest to be added still!? Surely once the balance is paid its paid and interest cant be applied? especially after two months? Why would they not just apply it in the months there was a balance?

 

This whole company is so underhanded and sneaky it is unreal.

[citizenB]

I would also point out that using Vanquis in order to "improve" credit rating is not a good idea - they are a PDL in all but name ??

[b1gdeano]

I know what you are saying - My partner declared herself bankrupt in 2010 and Vanquis were the only people who would provide a card to her so didnt have much luxury of choice

 

That being said she has now got a better card that she intends to use as a stepping stone onto better ones still - the APR is much lower at 35% - so she is on the right track - just need to get rid of these theives now!

 

What is a PDL? Not heard that before?

[IdaInFife]

PayDayLoan

[citizenB]

I know what you are saying - My partner declared herself bankrupt in 2010 and Vanquis were the only people who would provide a card to her so didnt have much luxury of choice

 

That being said she has now got a better card that she intends to use as a stepping stone onto better ones still - the APR is much lower at 35% - so she is on the right track - just need to get rid of these theives now!

 

What is a PDL? Not heard that before?

 

 

Aha, which reinforces my concerns that Vanquis is of no value to anyone for Credit restoration. Sounds like you are on the right track - good luck.