Vanquis Increases / Statements

TheEffect

My 5th or 6th statement is due today (not sure which one, as lost count of when the account was opened).

I paid off the entire balance on the last statement (usually run a balance over), so will be interesting to see if they increase my credit limit this time. I'm still paying off the interest and closing the account though.

Just phoned automated number and the statement hasn't been produced yet.

CocoPopsLover

So lets say I started off with £500 and used up nearly all of it but pay off, lets say £100 a month, will I still get an increase or will I be a risk to them as I used a majority of the balance at once?

costaerer

say you got the vanquis card, got the increase to 500 and then got into arrears and over credit limit , for a few months, then paid the full balance, still had the card, used it for small purchases and paid it off in full, for say, 1 yr, would they give you an increase, or because 1 yr ago u got behind with payments they would never ever increase your credit limit?

kilasuit

N-I-D did you ask about vanquis bringing an online banking service to the masses?

Neyo

kilasuit wrote: »

N-I-D did you ask about vanquis bringing an online banking service to the masses?

Yes they need to bring out the online banking service I hate calling in just to check the balance I'd rather just check online making sure there are no fraud transactions it's annoying not being able to check without calling in.

Parki_2

I agree. It would make me value the card more as I like to do things online. Maybe one day

never-in-doubt

LOL, how many questions!

Online Banking - he said that is in the pipeline and has been for some time now. No definite answer but I suspect he wasn't being entirely truthful if you know what I mean :cool: Bear in mind this was emphasised in that recent questionnaire they sent out - lots of IB questions so you never know...

CocoPopsLover wrote: »

So lets say I started off with £500 and used up nearly all of it but pay off, lets say £100 a month, will I still get an increase or will I be a risk to them as I used a majority of the balance at once?

This has no effect - like I said above, all increases happen automatically - just make sure you stay within limit and make regular minimum payments. The balance and amount paid has no bearing on the increases.

Just do what the account asks and spend, pay back on time and then you'll get increases.

costaerer wrote: »

say you got the vanquis card, got the increase to 500 and then got into arrears and over credit limit , for a few months, then paid the full balance, still had the card, used it for small purchases and paid it off in full, for say, 1 yr, would they give you an increase, or because 1 yr ago u got behind with payments they would never ever increase your credit limit?

The way this would work is universal with all lenders! If you go overlimit etc they will demand the difference from credit limit to overlimit is repaid and then when this has been done, you will start 6months from that point. So lets say you were due an increase on month 6 which is June but you missed a payment, but paid the whole balance off in July, you'd not get an increase until January. Make sense....

blue_mum

Thank you for the update N.I.D , I will check for an increase on the 24th of this month as that will be 4 months 1 day :-)

CocoPopsLover

makes sense

never-in-doubt

CocoPopsLover wrote: »

makes sense

so how the devil are you, you sexy southern godess ;);)