Vanquis Credit Card

doelani

_Andy_ wrote: »

Blatant copy and paste from elsewhere.

You have too much time on your hands.

possibly some of it from here. notice the date....2004!!!

louiser123

i agree with everyone in thier replies, but i do think it can be very confusing for a newbie credit card holder to understand the way they work, i can see how easy it can be to think you can spend right up to the limit and still be safe, by paying the minimum payment and thinking that the account is being payed on time ect when in reallity its just not the case. i think you have to know how to use a credit card properly to gain maximum benefit. and this isnt explained very clearly on any paperwork i have seen, yes it explains APRS,and says by paying minimum it will take longer to clear the debt, but i have never read on any of mine a warning of going to c/l and it causing an overlimit situation due to interest. but i do agree the APR is clearly printed and cant be missed so its no good closing the stable door ect.

gomer

lucy69 wrote: »

The company behind Vanquis is Bradford-based Provident Financial!HERE'S an offer you should refuse - a credit card charging a monster 58.5 per cent.That's the top rate for borrowing on a Vanquis card, which makes it the most expensive around.The 58.5 per cent is levied on credit limits of just £100 and includes an annual fee of £10And there's a yearly fee on top - £10 for its Electron version and £19 for the Classic.Users of the Vanquis card can find themselves paying almost 65% for the privilege of being allowed to borrow just £100. Typical High Street credit cards charge about 14%North Norfolk Lib Dem MP Norman Lamb, a member of the Commons Treasury Select Committee that recently investigated card borrowing rates, is even more forthright. He describes the Vanquis card charges as 'outrageous'.This card is a RIP OFF - STAY CLEAR

So why didn't you stay clear then? You didn't have a problem spending the money.

kiora

This OP has a strong smell of SPAM, why are there so many people wanting to bash sub-prime cards, I have 3 sub-prime cards that are set up to be paid of in full, the main reason I took them is to build my credit file back up. The OP knew what she was getting into so only has herself to blame for paying interest.

apples69

You will be far worse off using this card, with huge amounts of interest to pay, this will only harm your already bad credit rating, as provident specifically target people with poor credit, its a no win situation using this card, my advise to people using this is follow the guide here on reclaining the interest your paying on this card, then transfer the balance onto a ge capital card, which is better value for money

sutton111

my brother recently got a card from them with a £250 limit and his APR is 52.5% but they aren't getting any interest because he will pay it off every month.

crazyfj

This applies to any card, if its 9.9% or 52% if you are near your credit limit make sure you clear enough to cover interest and ppi etc Its not just Vanquis, its egg, mbna etc

wullieb1

Wow is this old chesnut still rearing it head after all these years.

I've had my Vanquis card for coming on 2 years and use it as my emergency card. I have them take full payment off via DD every month and as such i haven't used the card for ohh about 18 months. It's still open as i checked the other week when i was abroad.

Paul_Herring

wullieb1 wrote: »

Wow is this old chesnut still rearing it head after all these years.

I've had my Vanquis card for coming on 2 years and use it as my emergency card. I have them take full payment off via DD every month and as such i haven't used the card for ohh about 18 months. It's still open as i checked the other week when i was abroad.

WARNING: Your DD most likely isn't however. They tend to expire after 13 months of non-use. Please check.

M_Ryan

Why do people keep posting threads criticizing the Vanquis card???? In the 3 years (yes I have a different user id to this one too) I have been on here, there must have been about 500 messages telling us to steer clear of the card!

The fact is, if you take out a credit card without looking at the APR then you deserve everything you get! If you do look at the APR then you KNOW that vanquis' is high!

It is NOT a card to be used for everyday purchases but is designed as a credit builder card! These cards are obviously higher risks to the lenders! Hence the higher APR!

So please, if you do need to get one of these credit cards, don't come on here slagging it off because you are paying a lot of interest!