V A N Q U I S

izools

Monty_Zoomer wrote: »

Nine months in and just got a text to say that my credit limit has gone from £500 to £1250 !!

Me LIKE Vanquis

You realise of course that you'd pay more interest on a Vanquis card with a #1,250 balance than you would on say, a creation card, with a #3,000 balance?

It's a nice feeling but having the ability to borrow lots of money from the likes of Vanquis is not a good thing.

NekoZombie

izools wrote: »

You realise of course that you'd pay more interest on a Vanquis card with a #1,250 balance than you would on say, a creation card, with a #3,000 balance?

It's a nice feeling but having the ability to borrow lots of money from the likes of Vanquis is not a good thing.

I didn't realise creation were also in the sub-prime market?

d123

izools wrote: »

You realise of course that you'd pay more interest on a Vanquis card with a #1,250 balance than you would on say, a creation card.

you realise of course you would pay a vastly higher amount in interest on a Payday or Wonga loan than on the Vanquis card?

Its all relative to what a person can actually use for credit....

Atom

Monty_Zoomer wrote: »

Nine months in and just got a text to say that my credit limit has gone from £500 to £1250 !!

Me LIKE Vanquis

I hope whatever you buy for that amount is worth it - your gonna be paying it for a while

BugsyBrowne

d123 wrote: »

you realise of course you would pay a vastly higher amount in interest on a Payday or Wonga loan than on the Vanquis card?

Its all relative to what a person can actually use for credit....

I don't know how Wonga work, but don't think the fees are much different if based on a monthly interest are they..

izools

star-fire wrote: »

I don't know how Wonga work, but don't think the fees are much different if based on a monthly interest are they..

Yes... Yes they are. Borrow £500 from Wonga and you'll pay £50-£100 interest in a month. Borrow £500 from Vanquis and you'll pay £15-£30 interest in a month

All absolutely mental though. I could only get Vanquis for a while a couple of years ago. That didn't mean I borrowed money from them. I simply paid in full each month.

Just because 35%+ is all one can get doesn't justify actually choosing to pay those rates. The choice is to not borrow until you can get a respectable rate, after clearing all your old bad debt and running a sub prime card or two for however long it takes :beer:

BugsyBrowne

izools wrote: »

Yes... Yes they are. Borrow £500 from Wonga and you'll pay £50-£100 interest in a month. Borrow £500 from Vanquis and you'll pay £15-£30 interest in a month

All absolutely mental though. I could only get Vanquis for a while a couple of years ago. That didn't mean I borrowed money from them. I simply paid in full each month.

Just because 35%+ is all one can get doesn't justify actually choosing to pay those rates. The choice is to not borrow until you can get a respectable rate, after clearing all your old bad debt and running a sub prime card or two for however long it takes :beer:

Damn Wonga are expensive, luckily I am fortunate that I don't have to resort to these kind of people..
But I am still skint lol

izools

No one has to, they simply choose to. Everyone I've ever met who has had a payday loan had a choice and could have used an alternate method of overcoming their alleged need for money.

You've the right attitude, Mr Fire - just because you're skint doesn't mean you have to grab some dough from a shark. Simply means... err... don't spend anything.

Simples

BugsyBrowne

izools wrote: »

No one has to, they simply choose to. Everyone I've ever met who has had a payday loan had a choice and could have used an alternate method of overcoming their alleged need for money.

You've the right attitude, Mr Fire - just because you're skint doesn't mean you have to grab some dough from a shark. Simply means... err... don't spend anything.

Simples

Yeah I would never resort in a payday loans or anything like that, I would call on the bank of mum&dad if I ever got to the stage where I was struggling to put food on the table or couldn't afford to put petrol in my car, and other bills ...

MorrisonsEmployee

MorrisonsEmployee wrote: »

They have requested further ID to support my application [Passport, Bank Statement etc,] - Does this mean im likely to be accepted once i have provided these?

Anyone have any idea? Or had a similar experience when applying? Thanks:)