2007-06-25 07:55:41 · 4 answers · asked by madison t 1 in Business & Finance ➔ Credit
No they don't, however I take it you have a vanquis card to repair or help your credit rating?
If so, its actually not a good idea to pay the whole balance, as this won't improve your credit score. Your credit score is a guide to lenders to let them know how good you are a customer. Lenders want customers who they earn money from, through the interest.
As a result, is won't help and in some cases can even go against you if you pay your balance off in full each month, as its costing the card provider to give you a card, but they aren't making any money out of you.
Its best to pay off the bulk of the balance, but leave a small amount to gain interested in a controlled way. This will help to improve your credit score.
2007-06-25 08:47:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
most credit card companies do not charge if the balance is paid.
Check the small print just in case
2007-06-25 08:22:11 · answer #2 · answered by Rebz 5 · 0⤊ 0⤋
I hope you know their interest rate is 39% and that if the government finally get round to the interest rate limits they keep promising then robbing companies like these will go out of business!
2007-06-25 09:57:14 · answer #3 · answered by Steven 4 · 0⤊ 0⤋
No. Not if paid monthly before the due date.
2007-06-25 08:01:56 · answer #4 · answered by Anonymous · 0⤊ 0⤋