Minimum Finance Charge with Vanquis

A question about : Minimum Finance Charge with Vanquis

This is my first credit card, and I noticed they charged me a Ј1 minimum finance charge this month.

I set up a direct debit with them the day I activated my card to take the full amount of any outstanding balance, so I was surprised to see this. I telephoned them, and they said it's because I bought something using my card around the date the bill was issued, so interest was charged on it as it appeared on my next statement.

This sounds like total crap to me, surely the item should have appeared on the next month's statement rather than accruing interest. Although the interest was small, they kindly round it up to Ј1 and call it minimum finance charge.

I tried to argue with the guy on the phone but he ended up saying don't buy anything from 1st-5th of the month which is roughly when my bill is issued.

Is this right? It sounds suspicious to me...

Best answers:

• do you always pay your bill in full?
• This will be due to a transaction appearing on the account the day your bill was produced.
  Vanquis have an age old error with their billing system that they're too stupid to fix. Call them on their free number - 0800 781 6314 - explain and they will refund the Ј1.
• Hi yes, I set up the direct debit for the full amount so it is automatically taken from my bank account.
  I'll try ringing them again later after I get a couple more replies, the guy was very insistent earlier when I called that it was my fault.
• Regardless of what you were told on the phone it isn't your fault, it is a peculiar thing which is pretty much exclusive to Vanquis
  As izools said, ring them and they will refund it, don't be fobbed off.
• Thanks guys, I'll ring back later and have a go!
  Fancy telling me to be careful buying anything from the 1st-5th, I knew something had to be up.
  It must be a nice little earner for them to sneak a few quid onto people's accounts, and then rake in the cash from the 0871 premium number for those who try to get it fixed!
• Indeed. Make a note of the 0800 781 6314 to call them on anytime you need to
• just on this one, i've paid nearly all of my outstanding balance on my vanquis, and they've slapped a 13.63 'billed deferred finance charge' onto my latest statement.
  Anyone know if i could claim this back, or is it part of their T&C's??
  Thanks, Pete
• Did you clear your last two statements in full?
• No. i paid all but Ј25.
• Was this transaction in addition to a separate interest charge on the same statement?
• Yeah, purchase interest (they've stopped mentioning even the monthly rate now) and this charge in addition to that.
• I would raise a dispute against it in writing.
  Ask them that in order to resolve your complaint they are to either
  a) Satisfactorally send you documentation proving how they worked out the fee and explaining how it is in line with the T&Cs
  b) Refund the fee
  Good luck!
• The advertised APR needs to include any annual fee, yes. No doubt another regulation Vanquis have ignored...
• I didn't even know there was an annual charge!
• I just looked on the website and it says "No Annual Fee" in the summary...