V A N Q U I S

Brian1966

Hi
As long as you have no trailing interest from a previous statement you simply need to pay by the due date when you receive it. Up to you whether you pay immediately it drops through your letterbox, or wait a couple of weeks.
I normally pay mine the following day after statement generated which you can check online or via automated telephone service.
Hope this helps

devilswife

Thanks, it will be my first statement so no trailing interest! Just wanted to make sure

Brian1966 wrote: »

Hi
As long as you have no trailing interest from a previous statement you simply need to pay by the due date when you receive it. Up to you whether you pay immediately it drops through your letterbox, or wait a couple of weeks.
I normally pay mine the following day after statement generated which you can check online or via automated telephone service.
Hope this helps

Brian1966

devilswife wrote: »

Thanks, it will be my first statement so no trailing interest! Just wanted to make sure

One thing to bear in mind with Vanquis is that should you make a purchase on the day that statement is generated you may well find a 'minimum finance charge' of £1.00 on next statement.
If it happens to you and you ring to query they will normally refund it.

devilswife

Brian1966 wrote: »

One thing to bear in mind with Vanquis is that should you make a purchase on the day that statement is generated you may well find a 'minimum finance charge' of £1.00 on next statement.
If it happens to you and you ring to query they will normally refund it.

ok i'll bear that in mind, thanks for all your help!

shellyruby

never-in-doubt wrote: »

i'm insinuating that vanquis simply do not ring mobiles, usually. You're the only person on this site in all the threads i've read that say they rung your mobile! Ring customer services 2mw when they open and ask them if they will ring you back on your mobile and see what they say!

They don't have access to ring mobiles, apparently! But this could be a security feature or something, tmaybe they do a 192 search or something? who knows....

when i defaulted on my vanquis account they rang me on my mobile up to 18 times a day..i know i qwed them money but they constantly rang me..thank god its paid up.

rob3034

I was bankrupt just over 6 years ago, spent the last 4 months cleaning up my credit file(s) so all defaults and "bad" accounts have been removed , and done everything make sure my credits files are tip top, like being on electrol roll etc had no late payments for 2 years with mobile contracts and bank accounts.

So to rebuild my credit history i applied (and was accepted) for a vanquis card, but the credit limit was only £250 and the interest rate 46%!?!?!!?!?
I dont get it, people seem to be getting higher limits and better interest rates with defaults and CCJ on their credit files?.. !!!!!!?

any ideas anyone?

rob

Brian1966

Rob
£250 is pretty much standard for Vanquis initially.
Use it wisely and your credit limit will rise quickly,
Mine started at £250 in Sept 08 and is now at £3000.
Sadly the interest rate will not decrease so always bear that in mind if tempted to 'splash out' when the credit limit increases start.
Use it for around 12 months and you should be on the way to a prime card with much lower rates.
You NEED to build a history
Good luck

rob3034

ok cheers Brian,
Do you mind if i ask how you ran your vanquis card over that peroid? ie did you always pay it off each month, or pay off the full amount, use it everyday? or use if once every so often?

cheers

rob

Brian1966

For the first 3-4 months I spent around £100-200 paying off in full.
When limit went to £500 I spent a bit more around £350 and started to leave a small balance.
At £1250 started to use almost daily for all everyday purchases which took spending to £800+ again just smallish balances left
Limit then went to £1500 so same pattern then onto £2250 so spent £2000 of it and paid off over 2 payments still spending daily though and paying off the extra's almost weekly which then resulted in my latest increase to £3000 which I think is the max. Paid off my latest balance today so now sitting at zero but will probably spend a few hundred this month again paying in full when next statement generated.
Pay everything to them via faster payments, takes 2 days to hit the account but backdated to the actual day of payment.
Hope this helps

izools

rob3034 wrote: »

I was bankrupt just over 6 years ago, spent the last 4 months cleaning up my credit file(s) so all defaults and "bad" accounts have been removed , and done everything make sure my credits files are tip top, like being on electrol roll etc had no late payments for 2 years with mobile contracts and bank accounts.

So to rebuild my credit history i applied (and was accepted) for a vanquis card, but the credit limit was only £250 and the interest rate 46%!?!?!!?!?
I dont get it, people seem to be getting higher limits and better interest rates with defaults and CCJ on their credit files?.. !!!!!!?

any ideas anyone?

rob

Well done! You're on the way forward now

I'd suggest in six months time applying for an Aqua Mastercard, six months after that a Capital One Progress, and six months after that you will in all likelihood be approved for a Sygma card like the Silver or Creation cards - sub-20% APR, tidy limit, and easy to get.

A solid 18 month plan that should bring you right back up to prime