Vanquis Increases / Statements

prettypaula

Ive had my Vanquis card at the highest APR for over a year, limit of £250, pay each month, all green on equifax, no increase

other accounts such as littlewoods, all regular increases.

im awaiting a graduate loan appeal decision from lloyds, if successful i will pay off and close.

LinuxAllTheWay

prettypaula wrote: »

Ive had my Vanquis card at the highest APR for over a year, limit of £250, pay each month, all green on equifax, no increase

other accounts such as littlewoods, all regular increases.

im awaiting a graduate loan appeal decision from lloyds, if successful i will pay off and close.

How close do you get to your limit each month? My 'trick' is to almost max out the card but pay it off in full. A very small amount of cash withdrawal has, I'm sure, helped.

izools

Ah good, so it seems they do increase those that pay in full every month!

I shall leave my direct debit firmly as it is Didn't like the idea of paying interest in order to coax them into giving me a bigger limit

LinuxAllTheWay

izools wrote: »

Ah good, so it seems they do increase those that pay in full every month!

I shall leave my direct debit firmly as it is Didn't like the idea of paying interest in order to coax them into giving me a bigger limit

I'm sure the secret is to almost max out the card, withdraw a very small amount of cash on the card (yes this will mean you pay a fee and a small amount of interest) and pay in full.

This has worked on three cards now. Keep and eye on my siggy for the limit increases.

prettypaula

yeh i reckon you may be right...


IF i get this appeal through and overturn the decision on my graduate loan i will pay off in full, then start that way i think rather than close... im hoping to have a credit card with a normal company by this time next year

LinuxAllTheWay

prettypaula wrote: »

yeh i reckon you may be right...


im hoping to have a credit card with a normal company by this time next year

Vanquis are a 'normal company'. They just charge a very high % rate.

I used my Vanquis card as a stepping stone (due to lack of credit facilities hence no credit history). I now have a gold card (what-ever that means nowadays) and an incredibly low APR on my car finance, an APR I wouldn't have got if I had little or no credit history.

When I first got my Vanquis card, it had a limit of £250. I applied the afore mentioned rules and on my 2nd statement, the limit had been raised to £500. 2 more statements after that and the limit went to £1250. That's enough for me for the time being, I don't need any more than that. I'm now working on my 'gold' card as I want to get the limit higher than the initial £1000 limit and the APR is very good (I'd like to use this card as my emergency card).

Hope that helps

carlislelass

I got a limit of £1250 but had never paid off in full

LinuxAllTheWay

carlislelass wrote: »

I got a limit of £1250 but had never paid off in full

without going in to too much detail, are you near/close to your limit?

cifpower

I am at £1250 and have only nearly maxed it out once. I even went two months with a nil balance and no transactions.

LinuxAllTheWay

cifpower wrote: »

I am at £1250 and have only nearly maxed it out once. I even went two months with a nil balance and no transactions.

I bet Vanquis love you. You'll be making them a tidy sum in interest.

If possible, pay the card off as soon as you can. Easier said than done I know.