Vanquis Credit Card

inmypocketnottheirs

As quoted elsewhere, I have received a Vanquis card with a £750 limit, and £19 p.a. fee. APR 29.9%. To be honest APR doesn't bother me, as I clear the account every month. I need a credit card for business travel, and due to past credit problems I have to live with these sort of card issuers. But for me £19 is value for money to have a visa credit card with a meaningful limit.

The APR is about the same as Capital One and Barclaycard Initial, so IMHO Vanquis are given a hard time unjustifiably. It is not compulsory to apply or respond to a mailing, but at least for those that have a need, such as me, at least there is a provider prepared to give us a second chance.

One final word regarding annual fees, this used to be standard practice amongst all issuers back in the 80's. I see that because of the amount of people stoozing, the banks are suffering badly (I am pleased to say!), and because of that will look to recoup their profits by reintroducing annual fees.

bbruce

Interesting.
A person to whom it will be useful.
Probably many others out there.
If they use it sensibly like inmypocketnottheirs plans to, it could be their saviour.
Woebetide any who don't opt to pay it off every month or who think it's an opportunity to get deeper into debt as it will accelerate their downfall.
"Lastchance Card" would be an apt name!