V A N Q U I S

jasonwatkins

TrueUnitedFan wrote: »

Is your credit rating bad?

I'd say "bad" is being quite optimistic about the state of my credit rating

Although I say that, I successfully opened a full current account with Santander last year so maybe it's not completely terminal ?

jasonwatkins

sassy-one wrote: »

It's that simple.

Really ?. Maybe you could share your thoughts on the Vanquis Alpha Visa card then that has an initial credit limit of £100 ?

http://www.vanquis.co.uk/alpha-faq

Your starting credit limit will be £100. Over time we will review your account, and may offer you a credit limit increase if your account is well managed. If we set your limit higher than you would like we’ll lower it for you.

sassy_one

jasonwatkins wrote: »

Really ?. Maybe you could share your thoughts on the Vanquis Alpha Visa card then that has an initial credit limit of £100 ?

http://www.vanquis.co.uk/alpha-faq

I'm not here to start a disagreement with you.
Wasn't very grown up replying to it was it?

Specially since admin have already needed to delete a number of posts in this thread recently.

If you don't agree with someone, don't reply, be an adult.
There's no such thing as a stupid question nor a stupid answer.

That's as much as I will say to you, you'll be pleased I corrected my post however, although your link refers to the Alpha Vanquis not the Visa card, which I was referring too.

jasonwatkins

sassy-one wrote: »

Wasn't very grown up replying to it was it?

Um, I thought that was the point of a forum. I mean, you post something, I post something ..

sassy-one wrote: »

If you don't agree with someone, don't reply, be an adult

How does that work then ? Surely the point of a debate is to counter a perceived inaccuracy with an opinion and/or evidence to back it up ?

I felt your statement (that has apparently now been removed) that the minimum amount that Vanquis offered as a credit limit was incorrect so I provided information to show that.

We weren't discussing specific cards, the issue was Vanquis as a whole.

But hey, if you only like having one-way debates where you're the only person allowed to post an opinion that's cool with me, i'll let it go

pip2012

Hi Guys

This is my first post; although I have been reading for a while.
I have just recieved a Vanquis(arrived in 6 working days) and Rise Visa (arrived in 5 working days) as I would like to start improving my credit rating. My question is this; is it better (for limit increases and CRA reporting) to pay off the full balance each month or part of it?

Cheers!

zebbeddee

You don't really want limit increases with these types of cards as the interest rate on outstanding balances can be rather scary when the balance is higher.

Best way to do it is say only use the card for you groceries each month and put the money from your bank account aside for said groceries, when your statement arrives, pay the balance off in full which means you don't have to pay interest.. Each month the card companies will record that a payment has been made on your account in full and on time which will improve your likely chances of being accepted for a mainstream credit card in approx 12-18 months, which will be of a much lower interest rate..

Hope this helps

pip2012

zebbeddee wrote: »

You don't really want limit increases with these types of cards as the interest rate on outstanding balances can be rather scary when the balance is higher.

Best way to do it is say only use the card for you groceries each month and put the money from your bank account aside for said groceries, when your statement arrives, pay the balance off in full which means you don't have to pay interest.. Each month the card companies will record that a payment has been made on your account in full and on time which will improve your likely chances of being accepted for a mainstream credit card in approx 12-18 months, which will be of a much lower interest rate..

Hope this helps

Thanks, that does help :-) I was only looking towards a limit increase as I thought that would look better on my file but I have heard that they would then higher the APR so I will be careful

custardy

I applied for a card via Topcashback. I really did it for the cashback
not bothered about a new CC
people are right with regard to the PPI sales. they do try and push
then they throw in the cash advance carrot,telling me it would be in my account for Thursday if i needed it before the card came
given the market they 'sell' to its a naughty way of getting folk on the hook of a rolling balance

Tremour-88

pip2012 wrote: »

Thanks, that does help :-) I was only looking towards a limit increase as I thought that would look better on my file but I have heard that they would then higher the APR so I will be careful

Credit limit increases are good, once your above a 1k limit it looks good on your file, also Vanquis only usually increase your APR once your limit is over £1,500 when you join there "Gold" club, some people get up to 79.99%!

Derivative

Anyone got an updated 0800 or national phone number for Vanquis?
The old one I used to use has been switched off.

I've used them to get a bit of credit history, paid off on time etc. I now have a £750 credit limit and I think it may be affecting my ability to get a card with a better interest rate (eventually would like to work my way up to the 0% or cashback cards).

So I want to cancel this one - but there's no way I'm calling an 0845 on my mobile phone.