Vanquis Credit Card

langylangy

i cant even get the vanquis card so is there any sort of secured credit card what i could pay for but would still improve my credit rating???

Paul_Herring

langylangy wrote:

i cant even get the vanquis card so is there any sort of secured credit card what i could pay for but would still improve my credit rating???

Prepaid credit cards are available, but I don't believe they appear on your credit reports, so while they allow you to get things on a CC, they don't actually improve your rating - you need to look to other ways of improving your score:

https://www.econsumer.equifax.co.uk/consumer/uk/sitepage.ehtml?forward=gb_elearning_credit23

http://www.experian.co.uk/consumer/index.html

vwman_3

gordon74 wrote:

Ok. I see now. I shall research the post topic before posting it so as not to start an unnecessary thread.

Dont worry about it, we've all done it, I know I have.......

suffolkb

The Vanquis card was also one of my first posts.You won`t be the last either.

CTT_2

I suggest we start a petition banning further new postings on the Vanquis card and in the meantime newbies please tell us something we don;t know.

daveboy

CTT wrote:

I suggest we start a petition banning further new postings on the Vanquis card and in the meantime newbies please tell us something we don;t know.

Newbies need not be afraid - CTT is known to be a stirrer.

At least check your punctuation before trying to ruin a completely harmless thread.

A site of this size will always suffer from duplicate threads on the same thing.

Post in the above manner again and something will be done about it.

Paul_Herring

CTT wrote:

I suggest we start a petition banning further new postings on the Vanquis card and in the meantime newbies please tell us something we don;t know.

Exactly how does your post encourage new-comers to continue posting?


And from an administrative point of view, how would you propose banning new posts on the rather specific subject of "I received this mailshot from Vanquis with a high interest rate" yet allowing (say) posts along the lines of "Vanquis have just started offering 24 months of 0% balance transfers with no admin fee"? Given the software being used on these boards at the moment.

I ask merely out of interest, <smallprint>and the situation provided is entirely from my imagination.</smallprint>

Bisoy

I admire people who gave honest and genuine advise to newbies. Not giving them the chance to have their say is I think against the principles of Martin's spreading the good news about this website. For every newbie who comes back and replied must have learned something positive and that in turn might help other guests and visitors in the future.

JollyNolly

Bisoy wrote:

I admire people who gave honest and genuine advise to newbies. Not giving them the chance to have their say is I think against the principles of Martin's spreading the good news about this website. For every newbie who comes back and replied must have learned something positive and that in turn my help other guests and visitors in the future.

Quite agree.

RichyRich

Astaroth wrote:

I was not suggesting it as a debt management method but for someone who has previously poor credit history and now wants to start rebuilding their credit.

Some credit APRs are misleading too - if you look at the Natwest Black card (which is similiar to the one I received an invite for) the APR looks like 50% because APR has to be calculated on a balance of £1500 and has to include annual fees (the Black card is about £400 from memory) but their actual interest rate on purchases is 12%. The fee however does cover a lot of "luxury" extras but if you looked at APR only it would be a "dont touch with a barge pole" (obviously some would question if 24/7 world wide concierge/ free travel insurance etc is worth £400 but if you have an income of over £70,000 then you probably arent overly bothered for £400 and that is a different arguement.)

I am sure in the vanquish card case it probably simply is a high interest rate and not fees given it is aimed at poor credit history people rather exceptional credit history ones - just thought it is making people aware that APR isnt the be all and end all and that small print needs to be read.

The standardised APR is designed to make products easier to compare, but in fact just creates confusion. I'd be up for an APR system where the interest rate is worked out without the fee, so that companies had to quote APR+Fee, e.g.

Interest 12% APR + £400 Annual fee

Would make a lot more sense in my view