V A N Q U I S

NekoZombie

tigerfeet2006 wrote: »

I have got a Vanquis card, had it 3 months now to help build my credit rating. I have used it and paid it off in full twice now.

What I have been trying to find out is if I should be paying it off in full or should I leave a little bit on it each month? Read a few pages and there doesn't seem to be a consensus. My DH says that we should leave some each month and I think we should pay it off in full so we are not stung by the interest.

Hey tigerfeet!

That's the problem, there is no consensus. Vanquis seem to have no rule book that they stick to.

My experience is starting limit, £250, limit increased after 4 months to £500, then after another 4 to £1250. During that time, I have not only always paid in full, but I have never spent more than 50% of the available credit. Apparently some lenders are cautious with borrowers who spend right up to their limits because it could be that their finances are under strain.

I don't know how true it is, but I do know my my limit has gone up wihout fail every 4 months, and I have never paid any interest.

dreamdreamer

I did similar with mine. Never got more than 50% towards my limit. Although I didn't always pay off in full, if I had a tight month I'd leave it for a month (and pay the price in interest!) with a minimum payment. I had my card for 3 years and it went up by £250 every 4 months like clockwork, up to £2000. Two years in (with a Vanquis limit of £1500) I applied for a mainstream card (Natwest) and was approved with a limit of £1500. Vanquis card was promptly cancelled! So it can be done.

dawnie1972

Re my previous post (#2077) i've paid off my vanquis and cap1 in full (thanks to inheritance from my nan) and have given cards to my mum, i will never use them again.

Dalboy_2

HI all,

I was accepted for a Vanquis Granite card the last week of October. I had the duty phne call with some detail checking and the usual take out our insurance for redundancy and sickness etc.... I told them no as I am off work after a serious accident and technically are not employed so not allowed to take it out. But my main worry is they claim to have sent my card out on the 2nd November, which after waiting the dutyfull 10 working days didnt arrive. They then issued a second card which again never arrived. Eventually I received a Diamond Card with a rate of 40.35%. The PIN number issued to me was wrong so they sent me a new one. This second number was also wrong and so they have sent me a third..!!!! Today was the seventh working day and still nothing has arrived. So I have a card I cannot use, a PIN number that just does not arrive and a phone bill as long as my arm from telephone calls to a so called bank...

They have told me so many lies over the past few weeks that I wonder if they really know what a bank is...!!! Now I am told that they run out of plastic so cards were later to arrive than normal, so the first two were actually not sent. Funny how the second card was activated by somebody other than me..!!!! And the top one of all excuses today regarding my PIN number which they say was sent out on the 6th December "Well it has snowed, so your post person is running late"... I had to control the laughter, considering the snow fell on Saturday the 18th ....!!!!

Sorry, just thought I would share my catalogue of woes with Vanquis...........

Have a great christmas all....

D

waptext

I got my vanquis credit card today £500 limit , it says purchase interest 34.08 % and annual cash/cheque 41.20 . What does that mean ?

ryantcb

waptext wrote: »

I got my vanquis credit card today £500 limit , it says purchase interest 34.08 % and annual cash/cheque 41.20 . What does that mean ?

if you use one of the cheques they always send you or take cash out of the hole in the wall you pay 41.2% interest per year and all other card purchases are charged at 34.08%

remember Vanquis is a credit repairing card and should be used as such, By all means use it but pay it off in full each month.

If every month you spend £200 on shopping use your vanquis then use your shopping budget to pay it off next month then use the vanquis again for £200 shopping.

Once you use and pay off you card like that youll credit will improve and increase you chances of a lower interest rate credit card and u can throw your vanquis away as its done its job.

Kyresa

Dalboy wrote: »

HI all,



Sorry, just thought I would share my catalogue of woes with Vanquis...........

Have a great christmas all....

D

So naturally you've cancelled the Vanquis right? After all, you surely wouldn't do business with a company that you only have bad things to say about, would you!

tigerfeet2006

Starfire, Neko and Dreamdreamer, thank you very much for that. Will start as I mean to go on then

:wave: Neko, good to see you.

tigerlily43

Hi
I was wondering how long it takes to get the duty PPI phone call? I am apparently in the queue after sorting the ID stuff out with them?

Thanks
tigerlily

b33

I have had a vanquis card for 11 months and have never had an increase so today I called them and the man said that they can't do limit increases on request but he will escalate it to some other department. I have never missed a payment or gone over limit, I don't think there is any method in their madness!