V A N Q U I S

chanz4

NekoZombie wrote: »

Thank you! Like I said its not definite - I won't believe it until I have the plastic in my grubby little mitts. I've never looked at my credit rating as I think its pretty meaningless anyway. I went bankrupt in March 2007 - I got vanquis in Jan 2010 and have had it every since. Thats just over 2 years. In that time my vanquis credit limit has gone from £250 to £2500. In the beginning it was an increase every four months - this changed when I got the gold card. Since then I've had one increase of £250, and I think their maximum is £3,000. I also have a next card (limit 3,500 and the most I ever spend on it is £200), a normal bank account with Santander (Overdraft of £500 - haven't used the OD yet and I have had the account since August 2011).

I just applied for Tesco on a whim and had no expectations. It might have helped that I have a tesco mobile so I am 'known' to them....Frankly if it really goes through I will be amazed.

Tesco are strict, if its been reffered with the bankrupcy in 2007 it will likely be declined

NekoZombie

custardy wrote: »

yeah,but it depends what they want
maybe they were putting that limit up, in the hope you would make a big purchase and get snaffled by the interest monster

Who knows?? I never did...

NekoZombie

chanz4 wrote: »

Tesco are strict, if its been reffered with the bankrupcy in 2007 it will likely be declined

Well they've already said my application was approved with a £3,500 limit. I'm cautious because I have heard of companies changing their mind after the fact...So its a case of wait and see! Like I said, I'll report back on what happens

NekoZombie

skintdad wrote: »

how about if you regularly spent up to £240 of a £250 limit but before the payment due date you paid off £120? this would make the statement balance £120 (assuming you did this each month and paid no interest). do you think this would be viewed negatively or would it make them think that you need a limit increase?

Yeah that's what I did sometimes, I think it would be fine. Tbh its probably also fine to spend up to your limit - there seem to be no hard and fast rules...

izools

skintdad wrote: »

how about if you regularly spent up to £240 of a £250 limit but before the payment due date you paid off £120? this would make the statement balance £120 (assuming you did this each month and paid no interest). do you think this would be viewed negatively or would it make them think that you need a limit increase?

Vanquis would view it positively and likely offer an increase.

Third party creditors however would view it negatively as using most of your available credit demonstrates poor budgeting / debt stress.

skintdad

izools - when you say third party creditors do you mean other lenders/potential lenders viewing your credit file? surely vanquis would only report limit and balance and payments received at statement date. this would make limit £250, balance £120 (less than 50%), and payments received £120 therefore showing previous statement cleared in full

NekoZombie

skintdad wrote: »

izools - when you say third party creditors do you mean other lenders/potential lenders viewing your credit file? surely vanquis would only report limit and balance and payments received at statement date. this would make limit £250, balance £120 (less than 50%), and payments received £120 therefore showing previous statement cleared in full

As far as I'm aware you're right about that Skintdad

pip2012

GreenAllTheWay wrote: »

Hi Pip2012

Thank you kindly for your reply beginning to think I shouldn't have chosen a fancy card or it may be that I'm just being impatient without the working days it is now 6 days but 4 if you exclude weekend.
If you don't mind me asking pip2012 did your card come through in working days or normal.

Thanks

working days; I applied on a Thursday and eceived it on the Friday of the following week. I also applied for a RISE Visa which took 5 working dyas to arrive. The charges are high but I will be using it purely to build up my credit rating (after years of ruining it!)

GreenAllTheWay

pip2012 wrote: »

working days; I applied on a Thursday and eceived it on the Friday of the following week. I also applied for a RISE Visa which took 5 working dyas to arrive. The charges are high but I will be using it purely to build up my credit rating (after years of ruining it!)

:beer:

Thanks pip2012 for your reply I did it during a week the same as yours applied on a Thursday so I should receive this Friday which is the following week from when I applied

sassy_one

Still not receive mine and it's been over a week
Called and advised wait another 2-3 days then they'll need to block the card and resend it

Royal Mail, cr*p!