new to Vanquis - How does it work?

[ecotrojan]

Hi

I appreciate the APR is high etc but that is for another debate.

 

I have a Vanquis Card.

 

ACCOUNT BALANCE

Balance carried forward£110.01

 

Credits to your account£0.00

 

Debits to your account£125.57

 

Current balance£235.58

 

CREDIT LIMIT

Credit limit£500.00

 

Available to spend£263.42

 

Your Next Statement

Next statement date22 Jan 13

 

Payment due date17 Jan 13

 

Minimum payment£5.00

 

Last payment date

 

 

Last payment amount£0.00

 

 

I'm confused with the whole procedure to say the least.

 

If I pay the outstanding balance owing of GBP 236.00 then I assume my credit limit is backup to GBP 500.00? or do i have to pay GBP 110.01 ? and then the debits of GBP 125.57 will be carried forward to the next statement ?? What charges do i get?

 

Will I get charges?

 

Also, if I use the card from now until the 23rd Jan 2013 then the GBP 500.00 (If I am correct)

is available...

 

I will then pay the full outstanding balance at the next statement date?

 

Do i get charges?

 

Cheers

Matt

[assisted blonde]

If you pay the os bal by 17th jan (235.38) then you will pay no interest and you have 500.00 availible ubtil your next statement. What was the 110 carried onto the account was it a balance tx? I assume this is your 1st statement so pay all of it or as much as you can to keep the interest down.

[ecotrojan]

If you pay the os bal by 17th jan (235.38) then you will pay no interest and you have 500.00 availible ubtil your next statement. What was the 110 carried onto the account was it a balance tx? I assume this is your 1st statement so pay all of it or as much as you can to keep the interest down.

 

Thanks & yes it was the balance tx

 

I will pay it all off

 

Cheers