Vanquis Increases / Statements

Mooey65

Am on my 6th Statement and still on £250.

never-in-doubt

Guess then, from posts on here, that the way we thought the increments work isn't entirely true....

Maybe they do assess data from the CRA before deciding on amounts; or maybe other criteria?

I'll ask my mate (Vanquis Manager) at weekend when he's down and let you know next week what he says!

Parki_2

never-in-doubt wrote: »

Guess then, from posts on here, that the way we thought the increments work isn't entirely true....

Maybe they do assess data from the CRA before deciding on amounts; or maybe other criteria?

I'll ask my mate (Vanquis Manager) at weekend when he's down and let you know next week what he says!

That would be very handy to know for people on here. Their must be some sort of criteria to it so might explain why some people get a hefty rise and others dont.

never-in-doubt

Parki wrote: »

That would be very handy to know for people on here. Their must be some sort of criteria to it so might explain why some people get a hefty rise and others dont.

Yes mate - he'll tell me stuff that isn't confidential and I assume asking how credit limits are worked out isn't classed as confidential so we'll see what he says!

Parki_2

never-in-doubt wrote: »

Yes mate - he'll tell me stuff that isn't confidential and I assume asking how credit limits are worked out isn't classed as confidential so we'll see what he says!

And get him to sort me account ;p Just add an extra 0 onto my credit limit and lower the apr a bit while he is at it.

never-in-doubt

Parki wrote: »

And get him to sort me account ;p Just add an extra 0 onto my credit limit and lower the apr a bit while he is at it.

:rotfl::rotfl::rotfl::rotfl::rotfl: :A :rotfl::rotfl::rotfl::rotfl::rotfl:

Parki_2

So Mr Nid what are you applying for next?

never-in-doubt

Parki wrote: »

So Mr Nid what are you applying for next?

Nothing mate - my file is trashed so will sit tight for a year now.....

I have 7 or 8 cifas (thanks to hbos) and just over 700 searches so time to sit and chill.....

blue_mum

never-in-doubt wrote: »

Guess then, from posts on here, that the way we thought the increments work isn't entirely true....

Maybe they do assess data from the CRA before deciding on amounts; or maybe other criteria?

I'll ask my mate (Vanquis Manager) at weekend when he's down and let you know next week what he says!

Did you ask? just wondering as I have just got my 4th statement and no increase, always spent money on the card and paid more than the minimum each time, Think I must be one of those never to get an increase (I'm all doom and gloom !!!)

never-in-doubt

blue_mum wrote: »

Did you ask? just wondering as I have just got my 4th statement and no increase, always spent money on the card and paid more than the minimum each time, Think I must be one of those never to get an increase (I'm all doom and gloom !!!)

Hiya

Sorry yes I did ask and he confirmed what we already knew that everyone gets increases at set times, although this is not the case if you miss payments and mess around with the account such as withdrawing cash all the time.

So in a nutshell they do not take a feed from the CRA - all increases are static and work the same for everyone. You can negotiate the APR when you are a gold customer, if they decline your request it is because they still deem you a risk - i.e. not quite 100% mainstream!

This means that within the first 6 months you should be on a £500 limit
within a year you should be at £1250
within 18 months you should be at £1750
and after 2yrs you'll be on £2k +

Similar to £100 per month - if you work it out like that!

That is the basis of the chat, he did say some people get an increase after 4 months, others may be 6 months (although he said it is from the date you took account, not statement date) so best to check the CRA and the actual date shown here as the 'start date' will be the increase date. I mentioned that some people get an increase on month 7 and he said no, its always 6 but to use the date account started not statement dates or it will be on the 7th statement, but really 6 months since opening.

In laymans terms this means the following, assuming I opened account on 01/01/07:

02.07.07 - should be on a £500 limit
03.01.08 - should be on a £1250 limit
04.07.08 - should be on a £1750 limit
05.01.09 - should be on a £2000 limit

Make sense.....?