V A N Q U I S

PhoenixDF

I've been with Vanquis for 18 months, originally had a credit limit of £250 which after 6 months went up to £1000. Got a letter today from them saying its been increased to £1750.

The only good thing about that for me is that it will look a bit better on the credit rating.....just waiting for Capital One to offer an increase on the £200 limit that I've got with them.

sol198

Took me 36 months to get to 3k,

250-750-1250-1750-2250-3k, i used it quite heavily but always paid off within two months at the most, I think they were happy making a bit of interest every two months, it started off at 39.9% one month ingot a letter saying it was getting raised to 44.9 then two days later I got a letter saying it was a mistake and it was being dropped to 34.9 which it is to this day. I use the card to fill my petrol tank every month and pay it in full Except I leave about 10 quid on it to keep it active,

I have nothing but praise for Vanquis and I'm indebted to them for taking a chance on me
After I was absolutely reckless with cash about 12 years ago. I haven't had a single bank charge in the last 6 and since the 29th December my credit report is flawless.

Used correctly Vanquis is a very good credit builder IMO BUT if you can't pay what you owe then do not ever run a balance up that will run for a few months. I think the only reason I keep it is to use as a warning.

saintscouple

sol198 wrote: »

Took me 36 months to get to 3k,

250-750-1250-1750-2250-3k, i used it quite heavily but always paid off within two months at the most, I think they were happy making a bit of interest every two months, it started off at 39.9% one month ingot a letter saying it was getting raised to 44.9 then two days later I got a letter saying it was a mistake and it was being dropped to 34.9 which it is to this day. I use the card to fill my petrol tank every month and pay it in full Except I leave about 10 quid on it to keep it active,

I have nothing but praise for Vanquis and I'm indebted to them for taking a chance on me
After I was absolutely reckless with cash about 12 years ago. I haven't had a single bank charge in the last 6 and since the 29th December my credit report is flawless.

Used correctly Vanquis is a very good credit builder IMO BUT if you can't pay what you owe then do not ever run a balance up that will run for a few months. I think the only reason I keep it is to use as a warning.

Thanks for sharing, interesting point about leaving a £10 balance so they are making some interest on you. Most of the advice here would be to clear the balance completely, but then if you do that then they're not making any money off you. I wonder if leaving a small balance would increase the chance of a regular credit limit increase, as it certainly worked for you. If they're not making any money by you clearing the balance completely, perhaps doesn't encourage them to raise your credit limit so often.

Food for thought.

NekoZombie

saintscouple wrote: »

Thanks for sharing, interesting point about leaving a £10 balance so they are making some interest on you.

Food for thought.

Though be aware that even though you only leave £10 on the card, you'll be paying interest on the whole amount that was outstanding! :eek: Not so much of a problem when your limit is £150, but less good if your limit is £2500.

I have NEVER paid interest to Vanquis and never had any problem with increases.

GreenAllTheWay

Hi all,

I am new to Vanquis and am still awaiting my first ever statement from them. I have a dd set up with them to take full amounts every month I had a letter to state my first dd will start from the following month I was just wondering how everyone pays off their first payment without slipping into trouble don't want to be hit by apr costs.

Thanks All

skintdad

make a manual payment eg online on vanquis site or on your own online banking

Tremour-88

sol198, you managed to break past 1.5 - 2k limit without the huge APR increase? (Usually they class you as a Gold member and slap you with an extra 10-30% APR)

GreenAllTheWay

skintdad wrote: »

make a manual payment eg online on vanquis site or on your own online banking

Awesome thanks skintdad

Maestro.

well blow me, i've been accepted by Vanquis Bank for their granite credit card. It surprised me to be honest, as I have no credit history whatsoever and my electoral role status hasn't even been posted on my credit report yet.

I've been offered a 34.9% APR with a £500 credit limit. Does anyone know if the granite cards get incremental increases in credit limit along with decreases in APR for good behaviour or is it a fixed card?

sol198

Tremour-88 wrote: »

sol198, you managed to break past 1.5 - 2k limit without the huge APR increase? (Usually they class you as a Gold member and slap you with an extra 10-30% APR)

I got up to gold card and they sent me a letter saying I was increasing to 44% but two days later I got another saying that it was a mistake and they were taking it down to 34.9, I often got letters through about promotions and also hundreds of they ridiculous cheques, it kinda felt like they were spurring me on to spend big, I never did though and rarely had a balance over 10-12 quid, I made two major purchases of around 700 and 360 since opening the card in 2005or6