V A N Q U I S

the-boss_2

only_mee wrote: »

The more credit, sorry more available credit, against ones name means less to borrow overall (might be a reason)

Yes, this is One reason i closed it. I also have a Cap 1 Card i can use in case of unexpected Bills.

ASL

only_mee wrote: »

The more credit, sorry more available credit, against ones name means less to borrow overall (might be a reason)

CRA show % of available credit. So lets say his creation card has a credit limit of £3000 and he spends a grand, he's using 33% of his available credit. If he kept both cards. And is limit on vanquis is also £3000 his total credit is £6000 he uses a grand, his % ratio shows he uses 16.5% of available credit. That makes for a even better cra report. Closing the vanquis may have a bad affect on his cra report.

izools

ASL wrote: »

CRA show % of available credit. So lets say his creation card has a credit limit of £3000 and he spends a grand, he's using 33% of his available credit. If he kept both cards. And is limit on vanquis is also £3000 his total credit is £6000 he uses a grand, his % ratio shows he uses 16.5% of available credit. That makes for a even better cra report. Closing the vanquis may have a bad affect on his cra report.

Right, but he has a higher limit to income ratio.

It's a toss-up as to which would look worse - and largely dependant on the creditor scoring him - some may prefer a lower Limit : Income over a low Debt : Limit, others vice versa.

mauriphonic

Applied couple of months ago, got phone call few days later asking for Direct Debit, which I gave. Then nothing for about a month, when they sent a refusal letter. Fair enough I'm new in country with almost no history (reason I'm trying them anyway) so I left it as Aqua had already accepted. Then a few days ago I checked my bank account to see they'd setup a Direct Debit mandate, and I get an advance notice letter for it. Try to call to query but customer service closed at night. Then yesterday a PIN number turned up! I assume a card will follow and the refusal was either an error, or when the application hit a month old was fired out automatically? Anyone else experienced this strangeness?

NekoZombie

MorrisonsEmployee wrote: »

Argh! Can't believe i have done it but just randomly checked my Vanquis account and i have gone over my limit by £3!:mad:I always pay my balance off in full and on the day my statement is produced each month and have just paid £50 to bring me back well within my credit limit.

I guess this will now really go against me getting credit limits from Vanquis:(

It may not - I did exactly the same thing (went over and paid in immediately to clear it - obviously it took a few days to actually hit the account) and it didn't affect my increases.

callistris

Just got my new Vanquis card, £500 credit limit and 39% interest rate:j

MorrisonsEmployee

NekoZombie wrote: »

It may not - I did exactly the same thing (went over and paid in immediately to clear it - obviously it took a few days to actually hit the account) and it didn't affect my increases.

Thanks for the info! Hopefully they will see up until this point there has been no issues with my account.

ASL

My fourth statement is due this week. Still don't know exactly what date my credit limit will increase. All the letter which came last month said it was increasing after my next statement. Which is the statement due this week.

izools

mauriphonic wrote: »

Applied couple of months ago, got phone call few days later asking for Direct Debit, which I gave. Then nothing for about a month, when they sent a refusal letter. Fair enough I'm new in country with almost no history (reason I'm trying them anyway) so I left it as Aqua had already accepted. Then a few days ago I checked my bank account to see they'd setup a Direct Debit mandate, and I get an advance notice letter for it. Try to call to query but customer service closed at night. Then yesterday a PIN number turned up! I assume a card will follow and the refusal was either an error, or when the application hit a month old was fired out automatically? Anyone else experienced this strangeness?

Good! Certainly looks like a card will be on its way. Good work.

If you check the Direct Debit details on your bank's online banking, you can get the reference starting 4023, which is your 16 digit VISA card number.

You can call them up quoting this and they may be able to confirm when to expect your card and what your limit is

WLITC

I've just been excepted for the Vanquis card today (only applied yesterday), the guy on the phone mentioned my DD was being set up to take min payment each month, but I'm assuming I can instruct them to change it so that it pays the full outstanding balance each month?