V A N Q U I S

Simon7685

izools wrote: »

Simon7685, how is the rest of your credit history now? Once you've had your Vanquis card for 9 months, perhaps you should apply for the Capital One Progress? It's a realistic APR and they approved me as a discharged bankrupt last year

My credit is improving all the time, my last default has just dropped off my credit file on Monday:j but I still have a CCJ that wont come off until November:(. I already have a capital one card - classic but only with a £200 limit. Also an Aqua card again with a £250 limit, I use them all every month and repay in full. I would like to keep them all going but could do with one of them having a more realistic credit limit, for that unforseen problem that needs a big spend. The one that usually seems to happen to me just before Xmas - last 3 years has seen TV, freezer and cooker all go bang the week before!!!!!!

izools

Simon7685 wrote: »

for that unforseen problem that needs a big spend

That's what savings are for.

Don't want to come across all judgemental but it's this mentality that cuased the problems you faced with bad credit in the first place. Credit cards aren't to be thought of as a coushion.

If you had to replace all your white goods at one, you'd have to repay your debt monthly. So put that monthly repayment in a savings account

EDIT: Wow, you can tell I'm a stereotypical bloke. Can't spell coushion (or whatever) for love nor money...

KingElvis

Blimey, at the rates the Vanquis bandits charge, I wouldn't want to replace my toaster let alone the telly or an expensive washer for example......

I'm always amazed that people use these cards for such large amounts....Vanquis know their market I guess.

yenool

KingElvis wrote: »

Blimey, at the rates the Vanquis bandits charge, I wouldn't want to replace my toaster let alone the telly or an expensive washer for example......

I'm always amazed that people use these cards for such large amounts....Vanquis know their market I guess.

Exactly. Many people with this type of card will be in a situation where they don't have any better options when it comes to a major unexpected expense.

Having said that, I don't have much sympathy for anyone who spends on a VANQUIS card and leaves a balance owing on it simply to buy unnecessary / luxury items.

Simon7685

izools wrote: »

That's what savings are for.

Don't want to come across all judgemental but it's this mentality that cuased the problems you faced with bad credit in the first place. Credit cards aren't to be thought of as a coushion.

If you had to replace all your white goods at one, you'd have to repay your debt monthly. So put that monthly repayment in a savings account

EDIT: Wow, you can tell I'm a stereotypical bloke. Can't spell coushion (or whatever) for love nor money...

If only life was as simple as that and we could all be in a position to save every month. I think you are being somewhat judgemental, actually it was not this mentality that caused my bad credit in the first place. It was ill health and losing a business as a result and having to live for 12 months without any state benefits that screwed me up.:(

samwsmith1

Simon7685 wrote: »

Wow, that is a big jump from £250 - £1000. Someone else a few posts back said they had been increased like that as well. It is a more realistic credit limit but wouldn't like to think I had to use a grand at 49.9%:eek:!

If you don't mind me asking how much did you spend as a big purchase and what sort of balance did you carry over Spikescot??

I got an increase the same in March, however, at the same time I was approved for a First Direct credit card with an £1800 limit so barely use my Vanquis any more.

izools

Simon7685 wrote: »

If only life was as simple as that and we could all be in a position to save every month. I think you are being somewhat judgemental, actually it was not this mentality that caused my bad credit in the first place. It was ill health and losing a business as a result and having to live for 12 months without any state benefits that screwed me up.:(

I apologise for presuming about what landed you in the position before Simon.

However consider this "Bottom line" -

If you can afford to repay, say, £50 a month to your credit card after having used it to replace your washing machine and fridge, you can afford to put £50 in a savings account each month before they break.

If you can't afford £50 a month towards a credit card, you can't afford a bigger limit.

Simples

KingElvis wrote: »

....Vanquis know their market I guess.

They sure do.

spikescot2005

Simon7685 wrote: »

Wow, that is a big jump from £250 - £1000. Someone else a few posts back said they had been increased like that as well. It is a more realistic credit limit but wouldn't like to think I had to use a grand at 49.9%:eek:!

If you don't mind me asking how much did you spend as a big purchase and what sort of balance did you carry over Spikescot??

Spend about £50 - £100 on it but my big spend took me close to my credit limit. I left a £50 balance on it.

Before i get shot down. NO! i won't be spending a grand on it just back to my £50. On another note Aqua have also just increased my limit too.
Just wish capital one would.

scumzisp

Hi,

I'm trying to re-build my credit history.

I applied for VANQUIS CC couple of days ago, I got a call yesterday and person read out all my details and finally confirmed that I've been approved.

Later when checked for credit report from experian, Vanquis have looked into my credit file twice, Once for Credit card application and other for Money Laundering(may be for fraud). I'm bit concerned that more number of recent search would affect my ability to apply for credit in the future.

Any advice ??

Atom

scumzisp wrote: »

Hi,

I'm trying to re-build my credit history.

I applied for VANQUIS CC couple of days ago, I got a call yesterday and person read out all my details and finally confirmed that I've been approved.

Later when checked for credit report from experian, Vanquis have looked into my credit file twice, Once for Credit card application and other for Money Laundering(may be for fraud). I'm bit concerned that more number of recent search would affect my ability to apply for credit in the future.

Any advice ??

After every 3 months they are less important and they drop off a year after they are made - i doubt two is gonna make much of a difference and the money laundering search may be unrecorded meaning lenders will not see that one only the credit search.

If you have quite a few in a short period of time then it will temporarly affect your ability to obtain credit but for around 6 months.