VANQUIS and Credit Limit Raises

young_victor_meldrew

Following on from some of the other discussions about Vanquis, found this slightly odd. Being a new customer of theirs it intrigues me on how they raise credit limits.

2 freinds lets call them Mrs.Bing and Mrs.Bong for the sake of not naming the guilty parties!

Mrs.Bing and Mrs.Bong both have Vanquis cards, both started with a limit of £250.

Mrs.Bing pays her bills on time, everytime and after 3 payments has her limit raised to £500 (November) They have not raised it again, even though Mrs.Bing has continued to pay in full on time every time.

Mrs.Bong pays what she wants (on time) but never the balance in full, doesn't get a 3 month "raise", but after paying 6 bills gets raised to £750.00!

How do they work things out over at Vanquis?

cifpower

Mine was raised after 6 months to £500 and I should get a raise next month all being well. Some others get a raise every 3 months. God knows how they work it out.

Innocent_Guy

cifpower wrote: »

Mine was raised after 6 months to £500 and I should get a raise next month all being well. Some others get a raise every 3 months. God knows how they work it out.

Think if you make all your payments on time and in full Vanquis make no money out of you from intrest!!!

cifpower

Innocent_Guy wrote: »

Think if you make all your payments on time and in full Vanquis make no money out of you from intrest!!!

But I have let a month or two go by where they make a small amount of interest. Albeit only £6 or thereabouts.

naijapower

A friend once had Cap One many years ago. Paid his balance in full every month but never got an increase at 6 months. The adviser he spoke to, told him point blank that capital one were not making any money from him, hence no need to tie up funds by increasing his limit. Guess same applies for Vanquis as well

sscott5581

I have had two increases from Vanquis £250 to £500 after 3 months and £500 to £1250 after 6 months and I pay balance every month. I now in my 8th month

Innocent_Guy

sscott5581 wrote: »

I have had two increases from Vanquis £250 to £500 after 3 months and £500 to £1250 after 6 months and I pay balance every month. I now in my 8th month

Do you mind if I ask how you run your account?

* Use of card
* Cash withdrawals??

I think the up your limit depending on your behavior score i.e how you use the card

sutton111

My Brother has had a Vanquis card for six months now and he has had one increase. That was on his 4th statement.

They don't increase on your 3rd statement it is infact your 4th and then it would be your 7th statement and so on after every 3rd payment.

My Brother does keep a balance on his but it very small, he had an increase on his 4th statement so when his next statement is produced next month it should go up again from £500 to £750 or even £1250, fingers crossed.

He has never withdrawn cash and uses his card 4 or 5 times a month. Mainly for the M6 Toll or over the Internet. He never maxes' it out. HTH Innocent.

cifpower

Here's hoping mine goes up next month

sutton111

When did you have your card? Did they credit check you Bobby?

Innocent_Guy

sutton111 wrote: »

My Brother has had a Vanquis card for six months now and he has had one increase. That was on his 4th statement.

They don't increase on your 3rd statement it is infact your 4th and then it would be your 7th statement and so on after every 3rd payment.

My Brother does keep a balance on his but it very small, he had an increase on his 4th statement so when his next statement is produced next month it should go up again from £500 to £750 or even £1250, fingers crossed.

He has never withdrawn cash and uses his card 4 or 5 times a month. Mainly for the M6 Toll or over the Internet. He never maxes' it out. HTH Innocent.

Thanks sutton....:beer: