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I'd be doing the exact same if that happened. Did they offer any reason?
No, I have been talking to them for the last few weeks, and they can't work out why and don't understand it, they also accept that they never sent me a letter to let me know! Luckily I DO READ MY STATEMENTS... and they have passed it to their 'Technical Team' to investigate....NekoZombie wrote: »I've seen a few people say similar on this thread -tbh I don't quite understand the reasoning. Assuming you never leave a balance on the card then surely the APR, whatever it is, doesn't really matter?
No, but there are principals involved......Opinions are like bottoms - We all have one, just some stink more than others
Service Attributable Pension - War Pension - War Pensioners Unemployability Supplement - War Pensioners Invalidity Allowance - War Pensioners Comforts Allowance - War Pensioners Mobility Allowance - War Pensioners Child Allowance - Housing Benefit - Council Tax Benefit0 -
intranicity wrote: »BUT I bet they have thousands of customers that are up to their credit limit and only paying minimum payments, and are no doubt raking in the money, CYNICAL, ME, DAMN RIGHT lol
It must be quite profitable and low risk for them to have lots of customers with small credit limits paying high amounts of interest.
If they start increasing the credit limits and offering lower rates of interest to 'loyal customers' then they are increasing their potential liability massively for not much gain really. Customers who run their accounts well and earn an increase with lower APR are not likely to be generating much profit, but still pose a potential risk of thousands to the company should they default for any reason, rather than a few hundred pounds (which appears to be the avearge limit on the vanquis card).
ie: if one 'loyal' customer defaults for 3k it costs a lot more than 3 or 4 customers running off with £250 each.
I think this is why they do not really offer big limits or lower the interest rates very often. The have a target group of very profitable customers...... they know the less profitable ones will move onto prime cards very quickly, so why bother trying to retain them.0 -
^^ very well said, it's because they have a target market and that's the market they serve.
Get one if you must, use it and then get shot as soon as you can."We want the finest wines available to humanity, we want them here, and we want them now!"0 -
What's the highest apr recorded for Vanquis. 50%??
No mate, my Ex had his upped to 69.9% APR Purchases 74.9% APR Cash when he was upgraded to Gold. But also got the £3,000.00 limit in the end. Scary thought, can you imagine £3,000.00 at 69.9% APR?
Screw that.Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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No mate, my Ex had his upped to 69.9% APR Purchases 74.9% APR Cash when he was upgraded to Gold. But also got the £3,000.00 limit in the end. Scary thought, can you imagine £3,000.00 at 69.9% APR?
Screw that.
lol, and I thought I was hard done by..... :rotfl:Opinions are like bottoms - We all have one, just some stink more than others
Service Attributable Pension - War Pension - War Pensioners Unemployability Supplement - War Pensioners Invalidity Allowance - War Pensioners Comforts Allowance - War Pensioners Mobility Allowance - War Pensioners Child Allowance - Housing Benefit - Council Tax Benefit0 -
How can I check my APR? I bank online only so don't have paper statements and I cant find a % on there?Just keep swimming0
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Diana_Prince wrote: »How can I check my APR? I bank online only so don't have paper statements and I cant find a % on there?
Me neither. I presume they really dont want to show you it.3 defaults removed,, 1 judgment set aside
No debt - 1 mainstream card
Getting back on the financial radar0 -
It will be somewhere betwen ginormous and mahoosive"We want the finest wines available to humanity, we want them here, and we want them now!"0
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Diana_Prince wrote: »How can I check my APR? I bank online only so don't have paper statements and I cant find a % on there?
One of the reasons I stopped using eVanquis, that and it crashing etc, It's on the paper statements, but I never found it anywhere on the website, I WONDER WHY.....Opinions are like bottoms - We all have one, just some stink more than others
Service Attributable Pension - War Pension - War Pensioners Unemployability Supplement - War Pensioners Invalidity Allowance - War Pensioners Comforts Allowance - War Pensioners Mobility Allowance - War Pensioners Child Allowance - Housing Benefit - Council Tax Benefit0 -
dazzaofdagenham wrote: »i also just received a letter stating my limit will be increase
from £250 to £1000
Bit of a jump but im not complaining....Not that i have any intention of going anywhere near that limit...
Just like to think im getting back on track and they trust me.
No mention of a change in my interest rate though !!!
Darren
Just a quick question.
My credit limit increase wont take effect until my next statement on the 17 April 2011.
Why do they do that ?
Darren
Current vanquid balance - £1.960
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