Question about paying off in full. Vanquis

A question about : Question about paying off in full. Vanquis

Hi

Does anyone know if credit card companies would take a reduced amount if paid in full. I have 2700 on my vanquis and the interest is a joke. I took a loan out to pay of my debts but want to know if credit card companies ever accept lower one off payments, thanks in advance.

Best answers:

• I don't understand how "in full" can be "reduced", but I see what you mean.
  No, for a CC company to accept a reduced amount as a full statement you have to default first and ruin your credit history. And even this doesn't guarantee that they agree.
• Thanks for reply. I know that some people who default get offers if they pay in full but I don't want to ruin my credit. I was hoping more than anything but I won't try if it's a no go.
• I'm going to pay it off in full anyway but was wondering if it's worth trying it on after paying so much in interest.
• Anyone think it's worth trying?
• There's never any harm in asking, but if you aren't in arrears they have absolutely no reason to agree - it's not in their interest to get the balance cleared and lose the income from you.
  Chances are you'll close the card after you've done it (and they will know this), so what's in it for them to let you 'settle' and walk away?
• Its worth trying if you want to trash your credit file for upto 6 years.
  But your plan may fail if they decide to sell the debt on instead.
• Thanks all. Will just pay in full. Was thinking they may do something but using logic tells me I was stupid thinking that.
• Sorry, would it be a good idea to close the account or pay in full and leave it open for credit purposes. May seem obvious but I've been building my credit and don't want to do anyghing to jeopardise it. Thanks.
• If you want to build a good history, continued (sensible) use of a credit card is a good idea.
• Thanks. The reason I ran up the bills is because I went through a period of anxiety and was off work and a bit silly. Things have completely changed, I have a secure job and am looking after my credit history. If I paid it off and left it, my credit would show as there being 3000 that is there and not used. Obviously I would purchase something every now and then and pay it straight off. I have two other credit cards though so three altogether. Not sure whether it's better to have 2 or 3. Also, does having vanquis on your credit show as a negative.
• No one knows you have a Vanquis card apart from you and Vanquis.
• Pay it off but ensure you keep it open at least a couple of months to ensure there is no interest hanging over which you might miss as it's not added on until the next month.
  After that, see if one of the slightly better cards is available to you e.g. cap one with cash back - if you get that, close the Vanquish one and continue to spend and pay off in full