Vanquis Credit Card

moneyfool · 17 February 2006 at 8:42PM

Got a mail drop offering me a new credit card from Vanquis,no annual fee and APR of...39.9% yep 39.9%! shall I take it,shall I not ? hmm di dum.

Bokken_2 · 17 February 2006 at 8:54PM

Not without reading the previous threads and Martins credit card articles you won't.
or you might just be living up to your name

Locana · 18 February 2006 at 1:07PM

Well, it depends on whether you are trying to build up your credit rating. The limit on this card should be around 250 if you are accepted. If you use this and pay off the whole amount monthly then this will help in trying to restore your rating, but as with all credit cards, and the reason we all post on this board, is that you may end up not paying off the balance monthly and will add another debt to your name, not to mention the high interest you will be paying. If you have lots of debts then don't get one. If you are responsible, try considering capital one. Still high interest, but not as bad as Vanquis. Do you reallty need a credit card????

The_Boss · 19 February 2006 at 2:35AM

oh dear. Maybe Vanquis are doing it for publicity since a new thread seems to appear every week.

muffle_2 · 19 February 2006 at 3:32AM

A while ago some company sent me an offer for a card with 49.9%, and Vanquis sounds familiar. It raised quite a few chuckles in the office.

CTT_2 · 19 February 2006 at 9:50AM

Why does everyone think they have to take extended credit on this card. This card is ideal for some people with perhaps a poor rating and provided you pay off debt each month it is fine. If you dont want it just shut up about it!

muffle_2 · 20 February 2006 at 1:59AM

Because these companies target people who are more likely to run up debt. There are people out there who genuinely want to build up their credit history but in many cases it will only result in the lender gaining huge interest payments and the customer running up debts they can't pay off because of the interest rate.

Grovers · 20 February 2006 at 8:20AM

A friend of mine applied for a Vanquis card last year, and it took them 8 weeks to call him to discuss details etc. So, I don't think they are really up to date with their paperwork.