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Vanquis credit cards

(53 Posts)
Raskova Sun 18-May-14 08:34:31

I had a 1500 debt on my vanquis credit card and was getting charged an extortionate interest rate so I asked my dad to lend me the money and I'd pay him the same minimum payment but it meant that if actually be paying it off and not just the interest.

He paid it with his credit card (29th march) and.told them it was a third party. They tell me everything will be fine, no further action on this and one further call to check up.

Then I receive a letter saying they need a copy of his statement and his card front and back. I send this and am told that's fine. No further action required.

I then call 17th April as I've received a statement asking for my minimum payment. I tell them they have the money. She says the payment is pending and everything will be approved that Saturday as that's their next working day and she sees no reason for it to fail. She also said until it was approved, my account was on hold so I wouldn't receive any fees or have my credit rating affected. I'll admit, I should hVe rang to double check it had gone through.

Last week on Tuesday I received a call from a snotty woman at vanquis telling me my account was 30 days in arrears and I must make minimum payment right that second. My response was 'I hope to god you're kidding, I paid it off in full almost two months ago'. She said it was indeed pending but I still needed to pay up as normal until it was approved. Basically the opposite of what the previous lady said.

My dad rang his credit card company and they hadn't even had request for the payment.

It seems vanquis simply forgot about my payment as it usually takes 6 working days max to clear. I spoke to many operatives last Wednesday and no one knew what actually happened.

All they can tell me is that my credit rating has been affected as I now have a late but not missed payment on my record. But then the next person tells me late doesn't matter, only missed.

My dad has now had to repay and start from the beginning. I will call Monday to see how it's going as now they say three working days but all operatives seem to say different things.

Do you think I have right to complain?

Does a late payment affect credit ratings?

TalkinPeace Sun 18-May-14 20:09:05

Why did he not just do an FPS straight to the account : done and dusted .... no queries
and I HOPE his card is zero interest as paying cards off with each other is a scary thing

Fluffycloudland77 Sun 18-May-14 20:13:23

I'd email the CEO of vanquis, keep it short and to the point.

They can remove late payments off the credit record, there's a free online credit report but I can't remember the name. Google will find it.

Then you can check whats what.

LadySybilLikesCake Sun 18-May-14 20:15:04

Experian do a free one month trial but you have to remember to cancel it or they will charge you.

littlemisssarcastic Sun 18-May-14 20:31:32

I've signed up for my free month credit check. However, how do I cancel so as not to be charged when the 30 days is up?
I've looked on my online banking to cancel any direct debit to them but nothing is showing.
Any ideas?

Sorry for thread hijack. blush

Raskova Sun 18-May-14 20:42:08

How dare you little miss sarcastic!!!! wink I think you have to ring experian from what I remember. You will get the usual 'are you sure you want to cancel? No really, are you sure?' Spiel.

I've already had the free trial and they only give you one hmm

What's fps? He did what he was told is the best way. They said such large payments always take this long.

His credit card is interest free and he gets these hilton honours points or something. grin

TalkinPeace Sun 18-May-14 20:46:55

Faster Payments Bank transfer electronic : cleared funds in around an hour

Fluffycloudland77 Sun 18-May-14 20:46:55

Ring them to cancel, I don't think it's a DD, it's a card payment instead.

Google the company, you don't need the customer account number but it makes it quicker.

They do try and get you to stay hmm

Free noddle credit check

Raskova Sun 18-May-14 20:55:31

I'm not sure why they didn't say anything about that. I know that when I rang to find out what was going on, the operator said they had a new debit card system which would go through straight away but when he did actually pay they didn't know about it. This will take three working days from Thursday or maybe Wednesday apparently. hmm

When they do ask if you're really sure I always sat 'look, I know it's your job to ask that but this is a firm no' in a nice but firm way and they say nothing. grin

littlemisssarcastic Sun 18-May-14 21:04:37

Thanks for that information. Will ring them.
I've had some fraudulent activity on my account recently so was contemplating holding off until I see how that pans out on my credit check, but £15 a month is a bit more than I want to pay tbh.

LadySybilLikesCake Sun 18-May-14 21:07:04

They wouldn't want you to clear your balance off though, they earn shite loads from people. It must take a thousand years to clear off a balance if the minimum payments are paid monthly angry

TalkinPeace Sun 18-May-14 21:10:40

Have a look at my spreadsheets thread .....
If you pay the minimum on a card it will take around 18 years to clear and the interest will be more than the amount you actually spent

Raskova Sun 18-May-14 21:12:55

Well my minimum payment was 75 on 1500. By 1400 it was 65. My dad worked it out and it was a crazy amount of time but I can't work it out.

That is what I was thinking tho, they don't want me to pay it off and I'm utterly helpless against their power. If they keep forgetting, I'm fucked!

TalkinPeace Sun 18-May-14 21:15:05

www.mumsnet.com/Talk/legal_money_matters/1987219-SPREADSHEETS-for-Debt-Control-Budgeting-Mortgages-etc?

pop your numbers in here
https://docs.google.com/spreadsheet/ccc?key=0AiZqlQ7-gn07dHRoTXA5Qnlld25UWkw1TEhZZk9IYVE&authkey=CMjc4JEB&authkey=CMjc4JEB#gid=0

LadySybilLikesCake Sun 18-May-14 21:25:04

I have one (crap credit rating from when I was unwell. I work full time now but can do nothing to improve my credit rating). My limit is £250. I've had it for a year and a bit. The balance is currently £239, the minimum payments vary from £12 to £13 and I haven't used it since I've got it. So, I've paid £13 times 17 months (£221), and have only paid of... £11 confused It will be paid off when I get paid, and then chopped up.

TalkinPeace Sun 18-May-14 21:28:17

Ladysybil
cancel the direct debit and set up a standing order for £20 a month
it'll be gone in around 18 months

LadySybilLikesCake Sun 18-May-14 21:32:38

Thank's, TalkinPeace smile I was going to call them to pay it off in two halves. Given this thread, I'm starting to worry about my plan now.

TalkinPeace Sun 18-May-14 21:35:16

don't call them.
Just do a payment directly from your bank by Faster Payments
and CANCEL THE DIRECT DEBIT

Raskova Sun 18-May-14 21:37:59

X post talking peace. I don't know what my interest rate is. It only said a daily or weekly one on my statement which I think was either 2.15 or 2.83. Really shit anyway.

I also paid off my very account. Currently owe my dad 2440 quid shock

I did this all to improve my shocking credit rating but I'm nervous I'll have actually made it worse with the late payment. I need to get my name on my mortgage. It's just DDs DF at the minute. hmm

LadySybilLikesCake Sun 18-May-14 21:38:06

Will do. It's crazy, some months the available balance goes down, despite the fact that I don't use the card confused It's probably done naff all to help me to sort out my credit rating. A year of being sick and it's screwed.

Raskova Sun 18-May-14 21:42:34

Are you with vanquis as well lady Sybil?

LadySybilLikesCake Sun 18-May-14 21:45:11

Yup. A year off sick and you end up with a credit rating of crap. I'd love a mortgage too, I earn enough, but I have no chance. I thought it would be a start to recovery, IYKWIM.

Raskova Sun 18-May-14 21:57:16

It's a real slippery slope too. I went to the real bank first (before the bank of dad) and they said no. We can see you can afford it but no. confused

Are you back at work now?

LadySybilLikesCake Sun 18-May-14 21:59:22

I hear you. I don't get why they do that, I can't even get an overdraft with my bank (I'm well paid so enough goes in).

I was freelance for a year and have a permanent job now. It's going to take years to repair the damage though sad

TalkinPeace Sun 18-May-14 22:03:05

If you start overpaying every month, the happy points on your file will start to click in fast
take heart

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