V A N Q U I S

2hapennys

Good Morning
I applied for a vanquis card on the 31/8, and have yet heard nothing. Is it worth calling them, or do I accept the fact that I am the newest member of the vanquis rejection club?

Do they send an email or write with their decision?
Many Thanks.

Anthorn

Potsdamerplatz wrote: »

Any tips for a newbie on what not to do with it?

Register for eVanquis with paper statements. It's free for the first three months and only 49p per month thereafter. Paper statements are useful for proving your address where online statements printed yourself are not accepted as proof which is most places including the DWP.

Cover unforseen debits or larger than usual debits by not maxing your limit. If you go over limit you'll incur a £12 over limit charge which will make your account even more over limit and a red over limit entry for that month on your CRA file.

Realise that a credit limit is not a target to aim for.

In any month when you're strapped for cash try to make the minimum payment plus the estimated interest. You'll find the estimated interest in the "Newsboard" section on your paper statement.

NPowerUser

Just been accepted for a Vanquis Credit Card, which was nice as I wasn't expecting it. Initial £250 credit limit

I am currently repaying a £4K+ mastercard debt at £5 a month with zero (frozen) interest and do not have a UK bank account. Over 4 months ago Capital One wrote off 50% of a £3500 debt when they accepted £1750 as full and final settlement.

Couple of questions re Vanquis

1) Do I need to open a bank account to pay the balance off in full each month or do they allow payment via a high street bank?

2) Will my credit score actually improve even if I pay the Vanquis card off each month in full even with the Mastercard debt running side by side?

I do want to get myself straight but accept it all takes time.

aimzrabbit

ITYIYBMAB wrote: »

Do they still do this?

I have a standard Vanquis card and a 3K limit which gets pretty much filled and paid off every month as it is used for expenses. My experience is that my limit has increased rapidly, don't know if that is because I have maxed the card every month and paid in full (in the early days sometimes twice a month!).

i was a gold customer , i think i started on a 500 limit and was at 3k after 5 months

if your strugglin with debt already and max this baby out , keep close to the limit each month paying about 50 a month off you will be classed as A1 account , soon you will get the call from vanquis when you hit the magical 3K

welcome to gold Mr rabbit , were guna milk you dry on interest charges get that overtime in we need it off you

its a while now since i paid mine off but they defo do the gold status

fil_cad

Ones best bet is to steer well clear of vanquis, if yo ever find hard times with them they will make your life a f*****g misery but if you are strong and bold and dont mind endless harrasing phonecalls every day life is sweet

TheGenerus1

aimzrabbit wrote: »

i was a gold customer , i think i started on a 500 limit and was at 3k after 5 months

if your strugglin with debt already and max this baby out , keep close to the limit each month paying about 50 a month off you will be classed as A1 account , soon you will get the call from vanquis when you hit the magical 3K

Actually you become a gold customer with Vanquis when they raise your limit to £1500.

I have never ever heard of Vanquis raising a credit limit by £2500 in just a 5 month period, and in one humongous jump.

I have had the Vanquis coming up to 3 years and believe me, I have gone through every Vanquis post on this site and have never come across a post that states such a high jump in credit limit made by Vanquis.

This would be very irresponsibile of them, being a subprime lender an all, and I don't believe this is a true statement with regards to that limit jump you stated.

Anthorn

NPowerUser wrote: »

Couple of questions re Vanquis

1) Do I need to open a bank account to pay the balance off in full each month or do they allow payment via a high street bank?

2) Will my credit score actually improve even if I pay the Vanquis card off each month in full even with the Mastercard debt running side by side?

I do want to get myself straight but accept it all takes time.

1) You will need to sign up to eVanquis with paper statements: free for the first three months and 49p per month thereafter. At the bottom of the first page of the paper statement there is a paying-in slip which can be used at any bank or post office. But there will be a charge made by the bank or post office.

2) The short answer is no. But you'll be building a history of good credit ready for when the bad debt is fully paid or it drops off your credit file after 6 years from the date of the default (cause of action). The exception is sometimes you will be approved for a mobile phone if you have greens alongside reds on your credit report. Lastly, there is no such thing as a generic credit score and it all depends on the criteria applied by a particular lender. For example some lenders such as Aqua won't penalise you for a CCJ which is more than 12 months old but others will shriek in shock and horror and transfer your application to the waste bin never to be looked at again,

Anthorn

TheGenerus1 wrote: »

Actually you become a gold customer with Vanquis when they raise your limit to £1500.

I agree. The Gold card is 100% related to achieving a £1,500 credit limit but there is otherwise no difference between the gold and regular cards. Why Vanquis have the different cards is beyond me. Maybe the gold card is a physical reward for being good.

NPowerUser

Anthorn wrote: »

1) You will need to sign up to eVanquis with paper statements: free for the first three months and 49p per month thereafter. At the bottom of the first page of the paper statement there is a paying-in slip which can be used at any bank or post office. But there will be a charge made by the bank or post office.

2) The short answer is no. But you'll be building a history of good credit ready for when the bad debt is fully paid or it drops off your credit file after 6 years from the date of the default (cause of action). The exception is sometimes you will be approved for a mobile phone if you have greens alongside reds on your credit report. Lastly, there is no such thing as a generic credit score and it all depends on the criteria applied by a particular lender. For example some lenders such as Aqua won't penalise you for a CCJ which is more than 12 months old but others will shriek in shock and horror and transfer your application to the waste bin never to be looked at again,

Thank you for your advice.

I registered for evanquis and was able to set up preferences whereby I just receive the credit card statement via email only, so no charge for this service.

I appreciate Vanquis giving me a second chance. Some folks on here say do not touch them with a barge pole but I think as long as you pay them off in full each month you will be able to avoid charges and hassle etc.

Aqua turned me down as unfortunately the Mastercard running monthly default is my achilles heel. Getting a 1 out of 5 rating on noddle came as no surprise.

Anthorn

NPowerUser wrote: »

Thank you for your advice.

I registered for evanquis and was able to set up preferences whereby I just receive the credit card statement via email only, so no charge for this service.

I appreciate Vanquis giving me a second chance. Some folks on here say do not touch them with a barge pole but I think as long as you pay them off in full each month you will be able to avoid charges and hassle etc.

Aqua turned me down as unfortunately the Mastercard running monthly default is my achilles heel. Getting a 1 out of 5 rating on noddle came as no surprise.

Well, beggars can't be choosers. It sometimes amazes me that some people get a Vanquis card where they can't get one from anywhere else and then proceed to run them down. But they are usually the ones who started off well, got their limit increases, defaulted and then blame their predicament on Vanquis.