Vanquis Visa Card summary

This is a summary only. Please refer to Terms and Conditions for full details.

Typical APR
Typical 39.9% APR variable.

APRs
39.9% to 59.9% APR variable for Classic on purchases.

Credit limits
Initial credit limits range from £250 to £1,000.

Interest rates
Typical interest rate 2.84% (monthly) 39.94% (annually) for purchases and 3.43% (monthly) 49.94% (annually) for cash and cheques.

Interest calculation
Interest is generally charged from the date of all transactions or other amounts charged to your account, until repayment in full. Interest is charged on the daily outstanding balance on your account and debited to your account at the end of each statement period. At statement date, we will add the interest we charge to the outstanding balance on your account. This means that you will generally pay interest on interest.

Interest free period
Up to 56 days interest free on purchase transactions only, where you have paid off two or more consecutive current statement balances in full and on time.

Minimum monthly repayments
Classic: 4.5% of your balance or £5, whichever is the greater.
Gold: 3.5% of your balance or £10, whichever is the greater.

Frequency and method
Choose to make more than one payment a month by Direct Debit, by cash or cheque over the counter at a bank or post office, by Debit Card over the phone or by post. The reverse of your statement shows full details.

Allocation of payments
Payments you make will be applied in the following order:
Balance transfers and Promotional rates;
Interest/Minimum Finance charge, Fees, Default charges;
Purchase transactions;
Cheque transactions;
Cash transactions.

Annual fee
There is no annual fee.

Charges
Cash advance fee of 3% or £3, whichever is the greater. Foreign transaction fee of 2.75% of the amount of any non-sterling transaction made abroad.

Default charges
Late payment and over limit fees are £12.
Returned payment fee of £12 if a Direct Debit or cheque is not honoured.

Other features

Cost of Borrowing

Interest Explained - based on 39.9% APR for a £250 credit limit.

To reduce the interest charged we recommend you pay as much as you can, when you can and not just the minimum repayment. See the example below.

Illustrative example For a purchase of £250 on your credit card

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?
£78

£27

How much interest will you be charged in the second year?
£60

£0

How long would it take to clear the balance?
6 years, 2 month

6 months

The above example assumes the following: The transaction takes place on the 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.

Important: Credit is subject to: status; telephone contact; confirmation of name and address; 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 our 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 Colonnade, Sunbridge Road, Bradford, BD1 2LQ. Registered number 2558509 England. Consumer Credit licence number 532364. VAT number 180555952. Vanquis Bank Limited is authorised and regulated by the Financial Services Authority.
© Vanquis Bank Limited 2008

Illustrative example	For a purchase of £250 on your credit card
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?	£78	£27
How much interest will you be charged in the second year?	£60	£0
How long would it take to clear the balance?	6 years, 2 month	6 months
The above example assumes the following: The transaction takes place on the 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.