Paying your bills

Paying your bills

FAQ Section

How does the Vanquis Card help me build my credit rating?

Making repayments on time builds a strong credit rating, and the longer you do this the better your rating will be.

How can I make a payment to my account?

Over the Phone or Online:
Via your bank’s telephone or internet banking service, you can make a one off payment or set up a standing order. Simply quote the following details: (1) Our sort code: 60-95-94, (2) Our bank account number: 0000 0001 and (3) Your Vanquis 16 digit card account number. Please allow 3-5 working days for your payment to reach your account via this method.

or

Phone Vanquis on 0330 099 3000, you can make a one off payment with a Debit Card or set up a Direct Debit for regular payments or set up a Continuous Payment Authority (for more details see our response to ‘What is a Continuous Payment Authority and how do I set one up?’). Please click here for opening hours and call charge information. Please allow at least 2-3 working days for your payment to reach your account via this method.

Via vanquis.co.uk:
You can pay by Debit Card, simply click on the pay my card button on the Vanquis website, which will take you to our ‘payvanquis’ website, then click on "Register Debit Card" and follow the online instructions. If you have any problems registering, then please call 0330 099 3000 to speak to an agent to register your Debit Card. Please allow 3-5 working days for your payment to reach your account. Please click here for opening hours and call charge information.

Via eVanquis:
Once you are registered for eVanquis our online account servicing, you can pay via our secure online service. Not only will this allow you to pay your credit card bill but will also allow you to manage your account online – viewing your account balance and accessing your statements.

Over the Counter:
Over the counter at your Bank or Post Office, using your pre-printed giro (found at the bottom of your monthly statement). Please note that the Post Office will charge a fee. If the bank you pay through is not your own bank you may also be charged a fee. Please allow 5 working days for your payment to reach your account via this method. Please note that  payments made over the post office counter can, in some instances, take up to 20 working days to clear.

Please remember to always make your payments in good time to make sure they reach your account by the Due Date. We recommend you pay early to avoid possible late charges and maintain your credit record.

By Post:
By posting a cheque, together with your pre-printed giro (found at the bottom of your monthly statement) in one of our pre-paid envelopes. Please make cheques payable to ‘Vanquis Bank’ followed by your Vanquis Visa Card account number. Write your name and Vanquis Visa Card account number on the back of the cheque. Please note, we normally recommend allowing 10 working days for your payment to reach your account via this method.

What is a Continuous Payment Authority and how do I set one up?

A continuous payment authority, a ‘CPA’, is a form of regular payment, where you provide us with your current account details and authorise us to request payments from that account.

As part of the application process for the Vanquis Bank Visa Card, we may ask you to set up CPA on a payment account of yours (such as your current account).  Should your application be successful, we will use the CPA to request payments from that account in respect of the repayments due each month on your Vanquis Bank Visa Card Account.  You will be able to specify the amounts to be collected from your payment account along with the date those payments are to be collected (which should be the date by which your repayments should reach your Vanquis Bank Visa Card Account in each month).  You can also set up a CPA at any time after your Vanquis Bank Visa Card Account is opened.

We will collect repayments of the specified amount using your CPA until you tell us to stop which you can do by calling or writing to us.  You can also cancel your CPA by telling your payment account provider.  If you cancel your CPA, you will still have to pay at least your minimum payment due by the payment due date.  For details of other ways you can make payments on your Account can be found below.

If you have insufficient funds in your payment account and we are unable to collect the repayment under the CPA we will try to take it once more, on the next working day.  If we are unable to collect a repayment under the CPA we will advise you of this.

When I make a payment what gets paid off first?

Where your repayment is not sufficient to pay off the whole of the balance outstanding on your Account, your repayment will be allocated first to reduce that part of your balance bearing the highest interest rate and then on in descending interest rate order.

What happens if I keep making the minimum payment and how long will it take me to pay off my debt?

Illustrative example For a purchase of £250 on your credit card based on 39.9% APR
Monthly Payment

Minimum Payment each month

£50 each month

Without taking into account any introductory rates, how much interest will you be charged in the first year?

£80

£27

How much interest will you be charged in the second year?  

£66

£0

How long would it take to clear the balance?

7 years, 7 months

7 months

The above example assumes the following: The transaction takes place on 1st January and you make no further transactions. Your statement is produced on the 1st of each month and you always make the payment each month on the 15th. Your statement is produced 31 days after you make the purchase.

If you can only make the minimum payment each month, it will take you longer and cost you more to clear your balance.

To reduce the amount of interest charged, we recommend you pay as much as you can, when you can and not just the minimum payment.

How often do I have to make a payment and how will I know how much to pay?

We will send you a statement or notify you that your statement is available to view each month.

We will tell you on your statement the minimum amount you have to pay. You must pay at least the minimum amount each month by the due date on your statement.

If you can only make the minimum payment each month, it will take you longer and cost you more to clear your balance.

To reduce the amount of interest charged, we recommend you pay as much as you can, when you can and not just the minimum payment.

For ways to make additional payments through the month see our response to 'How can I make a payment to my account?'.

What happens if I don't pay?

If you are late with your minimum payment or fail to make your minimum payment, we will charge you a late payment charge of £12.

We will contact you to talk to you about your account and any impact this may have on future minimum payments.

Missing payments could have severe consequences, such as the total cost of your debt growing, fees being charged and your credit rating being adversely affected, making it more difficult to get credit in the future.

What should I do if I'm having trouble paying my bill?

We're always here to help you, and that includes any concerns you have about paying your bill. Call us on 0330 099 3101 and we'll see what we can do to help. Please click here for opening hours and call charge information.

^ Credit Cards are not suitable for long-term borrowing or financing existing debt.

 

* To be considered for a credit limit increase, please keep all your credit agreements in order by paying on time, making use of your existing credit limit without going over your limit, and not taking on too much debt elsewhere. This is only a guide and meeting these criteria does not guarantee you a credit limit increase.

 

Important: Credit is subject to: status; telephone contact; confirmation of name and address; not already holding a credit card issued by Vanquis Bank; no reasonable suspicion of fraud, and is only available to UK residents who are at least 18 years of age and are not legally restricted from obtaining credit e.g.because of bankruptcy. Please read the Summary Box and Terms and Conditions for full financial details.

 

Vanquis Visa Card is issued by Vanquis Bank Limited. Vanquis Bank can be contacted at its registered office, which is at No. 1 Godwin Street, Bradford, West Yorkshire BD1 2SU. Registered number 02558509 England. VAT number 180555952. Vanquis Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 221156).

 

© Vanquis Bank Limited 2014