Vanquis Credit Card Process

moneysavingallday

ladypinkof66 wrote: »

Yes i was wondering that too - how bad is it to be refused ?

I personally have nothing bad in my credit at all and I was refused/ignored by Vanquis.

KingPin_2

thanks for the info and help

jasonwatkins

ladypinkof66 wrote: »

Yes i was wondering that too - how bad is it to be refused ?

i know i have one CCJ, but that's it. i do have a lot of outstanding debt as well, but it's all with various debt agencies - nobody has taken legal action. i was accepted for an orange mobile phone contract AND a t-mobile contract at the same time in august, so it can't be that awful.

well .. it's awful enough for vanquis to ignore me

sutton111

have you tried to ring them and ask them whats happening with your application.

jasonwatkins

sutton111 wrote: »

have you tried to ring them and ask them whats happening with your application.

to be honest,i haven't. i may well be in line to try again in a few months so it might be worth ringing them when i get declined again (which i will )

Nigella_2

39.9 % Interest is a rip off !!!! Suppose better than a loan shark.

cifpower

Nigella wrote: »

39.9 % Interest is a rip off !!!! Suppose better than a loan shark.

Or, if you pay it back in full every month, 0% interest

geraldinep

Don't do it! I have had a Vanquis card for a few years and am trying to pay it off. The purchase interest is 44.900% per year and it is a nightmare trying to pay anything off the balance. I was paying £55 per month by direct debit and 38p was coming off the balance, I'm going to use what I am saving from the interest rate cut on my mortgage to pay more off the debt.

cifpower

geraldinep wrote: »

Don't do it! I have had a Vanquis card for a few years and am trying to pay it off. The purchase interest is 44.900% per year and it is a nightmare trying to pay anything off the balance. I was paying £55 per month by direct debit and 38p was coming off the balance, I'm going to use what I am saving from the interest rate cut on my mortgage to pay more off the debt.

You knew what the APR was before you started spending on the card though.

gomer

geraldinep wrote: »

Don't do it! I have had a Vanquis card for a few years and am trying to pay it off. The purchase interest is 44.900% per year and it is a nightmare trying to pay anything off the balance. I was paying £55 per month by direct debit and 38p was coming off the balance, I'm going to use what I am saving from the interest rate cut on my mortgage to pay more off the debt.

I bet you didn't worry too much about the interest when you were spending it. My Vanquis card has been great & served it's purpose very well, i don't spend more than i know i can pay in full each month & after only 3 months they have put my credit limit up already.

The interest is made perfectly clear when you apply & in numerous places on the paperwork they tell you that it will cost more in interest if you only make a minumum payment each month, every statement comes with the same warning so it's not like a hidden trap they are using to con people, they are transparent about it from the start.

It always amazes me how many people are quick to slate Vanquis AFTER spending all the credit but like i said, i bet they didn't think Vanquis was so bad when they were spening the Bank's money.