V A N Q U I S

skylight

Got another increase today! From £2k to £2250. I have put some big spends on it in the last few months (cleared every month except this one) and that was a similar spending pattern to get the £2k limit last year.

I will leave it another 3 months to my credit file is cleared of any applications (to be on the safe side) and I think I will try for a mainstream card.

J_81

Whats the average credit limit for when you fist receive your credit card. I'm on a low income so i presume i will get the very lowest introductory limit. Whats the best strategy to increase this limit, is it mainly just buying things on the card and paying them back on time whether they are large or small purchases?

Little_Miss_Uni-Debt

Hey all,

My Vanquis card is my current enemy. I've decided to focus on one debt at a time and that's the one that's getting hammered currently.

The only good thing I can think about Vanquis is that I can pay my bill by text message. It's SO easy. I wish I could pay all my cards like this!

chik68

I just recently got declined by Vanquis, that's after they sent me a pre-approved application!! What a joke had never even heard of them before! That's as well as Provident sending me letters telling me i have been pre-approved for a loan with them!

spaceman5

Came out of iva 2 weeks ago, applied for vanquis card 1 week ago, got call last tuesday to say i have been accepted, card recieved today with a limit of £500 and a apr of 34.08%, not bad i suppose considering my circumstances, only going to use to get things i would normally buy each month i,e petrol etc and pay off in full each month, to give me some green ticks so tht i can get a mobile phone ocontract in my own name etc

pearls_of_wisdom

would people please give opinion on following it's a very simple situation just got vanquis card used 1st time =20th april - 1st statement 12th may to pay in full by dd 6th june (USED £66 OF AVAILABLE £250 CREDIT) + SINCE 12TH MAY STATEMENT SPENT £28 this is all going to plan based on extensive information on all vanquis threads now my main question is, as previously stated it was my understanding that it is better to use a lesser percentage of available credit to show you can handle credit etc.etc, but during a call to vanquis today there were strong hints that my level of activty (% OF CREDIT USED) was more likely to push my credit limit down to £150 and i was advised to push spend up to £240 WHAT DO YOU TRUST ?

spaceman5

pearls_of_wisdom wrote: »

would people please give opinion on following it's a very simple situation just got vanquis card used 1st time =20th april - 1st statement 12th may to pay in full by dd 6th june (USED £66 OF AVAILABLE £250 CREDIT) + SINCE 12TH MAY STATEMENT SPENT £28 this is all going to plan based on extensive information on all vanquis threads now my main question is, as previously stated it was my understanding that it is better to use a lesser percentage of available credit to show you can handle credit etc.etc, but during a call to vanquis today there were strong hints that my level of activty (% OF CREDIT USED) was more likely to push my credit limit down to £150 and i was advised to push spend up to £240 WHAT DO YOU TRUST ?

Having just joined vanquis i dont really know the answer, but this snippet from there website talkig about increasing your credit limit :-

* To be considered for a credit limit increase, please keep all your credit agreements in order by paying on time, making use of your existing credit limit without going overlimit, and not taking on too much debt elsewhere. This is only a guide and meeting these criteria does not guarantee you a credit limit increase.

Seems to suggest to me, that in order to get a credit increase they are saying you need to pretty much spend your current credit limit and pay it back to be considered for one, so i suppose like reverse psychology the opposite could happen, say you have a limit of £250 and only use £50 at a time, they could well drop it to £150

spikescot2005

Vanquis aren't going to reduce your credit limit. As long as you stay within your limit and pay off your balance each month you will be fine.

only_mee

spaceman5 wrote: »

Having just joined vanquis i dont really know the answer, but this snippet from there website talkig about increasing your credit limit :-

* To be considered for a credit limit increase, please keep all your credit agreements in order by paying on time, making use of your existing credit limit without going overlimit, and not taking on too much debt elsewhere. This is only a guide and meeting these criteria does not guarantee you a credit limit increase.

Seems to suggest to me, that in order to get a credit increase they are saying you need to pretty much spend your current credit limit and pay it back to be considered for one, so i suppose like reverse psychology the opposite could happen, say you have a limit of £250 and only use £50 at a time, they could well drop it to £150

That is how i used it and got a limit increase 3 months later.

pearls_of_wisdom

only_mee wrote: »

That is how i used it and got a limit increase 3 months later.

do you mean you spent nearly up to the limit please clarify ?