Vanquis Increases / Statements

izools

Sam_G wrote: »

Just thought I'd update - Vanquis have increased my limit to £1500 and sent me out a gold card - I also noticed my APR has also gone up to 41% from 34% when I first got my card nearly a year ago, and cash/cheque rate has also gone up (can't remember what to though, probably 50% or something silly like that)...

Yup, my OH's APR was increased from 59.9APR (47%) to 69.9APR (54%) when they increased his limit to £2,000

I'm so never going to borrow a penny on my Vanquis card... increase the APR all they like! I'll still pay in full even when my limit reaches £2,500

Speaking of which... eight statements and still on £250? Never been overlimit, always paid on time, always used the card plenty, no other nasties from other creditors... but still... jack.

Ah well, doesn't bother me, £250 is the grocery budget anyway. Suits me down to the ground but still aggrivated about the lack of CL increases :mad:

plumber2009

my starting limit £500
4 months later £1000 limit
8 months later jan 2010 £2000 limit

Should recieve gold card, had abacus card design when account was opened back in may 09.

Apr 34.9% at the moment. Will the apr go up this month?, I wait and see.

izools

plumber2009 wrote: »

my starting limit £500
4 months later £1000 limit
8 months later jan 2010 £2000 limit

Should recieve gold card, had abacus card design when account was opened back in may 09.

Apr 34.9% at the moment. Will the apr go up this month?, I wait and see.

If the interest rate was quoted as 34% on your statements, your APR will be 39.9%. Vanquis don't quote APRs on their statements, they quote simple interest. Two VERY different things.

Anyway, how come you're now at £2,000? I opened my card in May and I'm still on £250, never been a penny over limit, always used the card, paid well over minimum often the full amount, and not a penny extra.

What am I supposed to have done wrong??

never-in-doubt

izools wrote: »

What am I supposed to have done wrong??

Nothing mate - we're in a recession remember! :rotfl::rotfl:

I'm the same! Had my card a year now and had 1 limit raise from £250 to £500 after 3 or 4 months and that's it.

Closing it now anyway, I have to send the card back 1st and can't be bothered right now :eek:

ElkyElky

never-in-doubt wrote: »

Nothing mate - we're in a recession remember! :rotfl::rotfl:

I'm the same! Had my card a year now and had 1 limit raise from £250 to £500 after 3 or 4 months and that's it.

Closing it now anyway, I have to send the card back 1st and can't be bothered right now :eek:

The news said we'll officially be out of recession today. :rotfl:

izools

ElkyElky wrote: »

The news said we'll officially be out of recession today. :rotfl:

Just like turning off a light switch... magic! :rotfl:

plumber2009

All I have done is pay roughly pay about 50% to 75% of my balance each month and allow vanquis to earn a little intrest.
I do however earn a good salary of 40k so this may have an impact.
However my debt currently stands at around 46k and I currently have 4 defaults and another 2 active Credit Cards so who knows. Cap1 and barc simplicity.

plumber2009

never-in-doubt wrote: »

Nothing mate - we're in a recession remember! :rotfl::rotfl:

I'm the same! Had my card a year now and had 1 limit raise from £250 to £500 after 3 or 4 months and that's it.

Closing it now anyway, I have to send the card back 1st and can't be bothered right now :eek:

Do you have any other cards. If so close the account and if nescessary re -apply. You should get a bigger limit.

I was thinking of closing my cap1 card and apply for an upgrade but i dont want to risk loosing my £1700 limit.

never-in-doubt

plumber2009 wrote: »

Do you have any other cards. If so close the account and if nescessary re -apply. You should get a bigger limit.

I was thinking of closing my cap1 card and apply for an upgrade but i dont want to risk loosing my £1700 limit.

Yes mate I have 3 mainstream accounts, HSBC, Bank of Ireland Gold & Citi Gold and wouldn;t close any of those for vanquis lol Vanquis don't work like that, that's crappy1 that let you close your basic starter account and then reapply for a standard one.

Regards to your salary, sorry to say but £40k isn't considered that great - not to lenders, I get more than that so kinda dispels that theory....

poog

How do you check what your balance is on the cards without a statement? I havent recieved mine yet but want to pay the balance in full today!