increasing limit with vanquis

welly_59

has anyone got experience of what vanquis are like with increasing card limits? i've got a card with them with a 250 limit at present. i was hoping to be able to pay off a loan with my credit card as the interest rate on it is better, but i aint going to be able to do that on 250quid!!

Breezy85

welly_59 wrote: »

has anyone got experience of what vanquis are like with increasing card limits? i've got a card with them with a 250 limit at present. i was hoping to be able to pay off a loan with my credit card as the interest rate on it is better, but i aint going to be able to do that on 250quid!!

Blimey I'd hate to think what the interest on your loan is then! My vanquis is 34% !!

I've read elsewhere on here that they increase limit after 3 - 5 months off payments and obviously not going over your limit / missed payments.

I got this card to improve my rating spending a little a month and paying in full to avoid the interest. Are you serious about keeping a balance £250+ on this card???

Crikey!

Breezy

xgingerx

Well I got mine increased twice in 2 years, 250 - 550 -1000 only by exceeding my limit by mistake in both cases lol

I shudder to think what your apr on your loan is if its better than Vanquis :eek:


I always now pay balance off in full each month but keep it for emergency

cifpower

Got an increase on my 7th statement (6 payments) from £250 to £500. Received the confirmation letter today saying I have been "upgraded" because I have run my account "exceptionally well".

welly_59

my loan is with welcome finance and the interest is 50%!! i'll be saving 10pound a month by paying it off on my credit card instead. doesnt sound like much but it all adds up!

cifpower

I don't think there would be any way you could pay your Welcome Finance loan with your credit card

welly_59

how come? isnt it just a case of going down to the local office and using the chip and pin machine?

Breezy85

I didn't think you could pay for credit with credit apart from balance transfers etc..

Breezy

cifpower

Breezy85 wrote: »

I didn't think you could pay for credit with credit apart from balance transfers etc..

Breezy

My thoughts exactly. Although WF could prove us all wrong

bigstevex

welly_59 wrote: »

how come? isnt it just a case of going down to the local office and using the chip and pin machine?

Do you mean withdrawing cash on the card? if so is the interest rate not higher?

OR

If you mean paying it off as though its a bill, you can't do that, you can't pay credit with credit cards lol!

The only way u could do it would be to balance transfer to your current account if vanquias allow that!

cifpower

Vanquis do allow that but on my card the APR would be near 40%