Vanquis Increases / Statements

TheEffect

I get both my Aqua and Vanquis 3rd statement this month. Wonder if either of them would have upped my limit.

digitalphase

Can I just ask two questions please (probably silly ):
If I use my Vanquis card for a purchase of £10 or so each month and then pay it off in full each month to avoid interest, will that still have a good affect on my credit file? Or would it look better to make a larger payment on it then pay it off in full?

Also I've read this thread and lots of you are getting excited about credit limit increases - am I right in thinking that this is because a higher limit looks better on your credit file than a smaller one? Or is it because you want to borrow more money?

Brian1966

never-in-doubt wrote: »

mate but you own em, haha :beer:

That is very true..
As the main man I will authorise an increase for you next month
You now have £251 to spend :rotfl::rotfl::rotfl:

never-in-doubt

digitalphase wrote: »

Can I just ask two questions please (probably silly ):
If I use my Vanquis card for a purchase of £10 or so each month and then pay it off in full each month to avoid interest, will that still have a good affect on my credit file? Or would it look better to make a larger payment on it then pay it off in full?

Also I've read this thread and lots of you are getting excited about credit limit increases - am I right in thinking that this is because a higher limit looks better on your credit file than a smaller one? Or is it because you want to borrow more money?

Mate just do as you say, it will be the same as if you spend £2000 and pay it back! Has no bearing, all that matters is that you pay back what they ask for :T

never-in-doubt

Brian1966 wrote: »

That is very true..
As the main man I will authorise an increase for you next month
You now have £251 to spend :rotfl::rotfl::rotfl:

woah - thanks mate, that extra £1 will go a long way :mad::D:mad:

kilasuit

kilasuit wrote: »

just wondering how long between the account opening and the first payment is to be made?
as the account opened around the beginning of April and when i spoke to customer services they said the 10th of June is the 1st payment date but i'm really concerned that it may be earlier than that.

Or does that sound about right?

Any responses?

digitalphase

never-in-doubt wrote: »

Mate just do as you say, it will be the same as if you spend £2000 and pay it back! Has no bearing, all that matters is that you pay back what they ask for :T

OK thanks, will do the tenner thing then! I am too scared of the monstrous APR they will probably hit me with to risk not being able to pay back the full amount each month. I'll just use it instead of my debit card for some fuel or something, then use my debit card to pay it off. Just swapping numbers around in cyberspace really :rotfl:

TheEffect

I don't see the APR as a HUGE problem. I mean if you spend £100 on the card, it's around £3 interest a month if you don't pay it all off. £3 isn't going to make me lose any sleep. If you had £1000 sitting on the card, I could understand paying £30 interest a month, but if you carry over a smaller balance, it's not to much interest to pay.

bigbum_2

kilasuit wrote: »

just wondering how long between the account opening and the first payment is to be made?
as the account opened around the beginning of April and when i spoke to customer services they said the 10th of June is the 1st payment date but i'm really concerned that it may be earlier than that.

Or does that sound about right?

Not sure which account you have kilasuit, but i opened both Cap1 and Vanquis accounts in early March. The 1st statements for both show payment due dates fall around 10-12 of this month, May.

So what you've been told sounds about right imo.

Congrats on the increase Brian1966.

all the best

bigbum

never-in-doubt

TheEffect wrote: »

I don't see the APR as a HUGE problem. I mean if you spend £100 on the card, it's around £3 interest a month if you don't pay it all off. £3 isn't going to make me lose any sleep. If you had £1000 sitting on the card, I could understand paying £30 interest a month, but if you carry over a smaller balance, it's not to much interest to pay.

True, my balance was £250 last month and interest was about £8 - I put £50 in bandit today so can't whinge at a paltry £8.....