Aqua or Vanquis card to rebuild credit rating?

plumber2009

Was accepted for vanquis card today with £500.00 limit.

Still waiting to hear from barclaycard.


leemuddywaters.
I would continue to make payments to your defaulted accounts as this will help you'r case for approval, Expecially if you'r looking for a mortgage as this shows a willingness to pay your depts. Also in the longer term you will show overall that you are a lower lisk borrower.

Also you need to put a notice of correction on your credit file explaining the reason for you'r defaults. (ie lost your job.) This also helps.

Also you can get a mortgage with defaults as a co worker of mine was accepted.

digitalphase

plumber2009 wrote: »

Was accepted for vanquis card today with £500.00 limit.

Congrats on being accepted :beer:

Rose123

digitalphase wrote: »

Congrats on being accepted :beer:

I send my congrats too! :beer: :j :T

leemuddywaters

Applied for a vanquis and aqua card last week, got a decline from aqua but still no heard from vanquis yet, anyone know what my chances are? 2 defaults with a credit rating of 805 (fair)?

Also have a question, one of my defaults with capital one was with a DCA for years and I have been paying through them, I recently got a letter from capital one saying the account is now back in thier hands and out of the DCA'S. I have £49 pound to pay on it, I am considering writing to them saying I will pay this off completely if they remove my default??

Any suggetions on this?

Thanks

digitalphase

In regards to your first question, Vanquis may accept you with defaults as at the time I applied I had a default on my file (now changed to late payment marker). Though I only had one and have/had lots of credit accounts with good history, so not too sure.
Best of luck! You could always try a cashplus card to help your credit file if you can't get a credit card. I think Vanquis is the most lenient lender though so you will hopefully be fine.

Rose123

leemuddywaters wrote: »

Applied for a vanquis and aqua card last week, got a decline from aqua but still no heard from vanquis yet, anyone know what my chances are? 2 defaults with a credit rating of 805 (fair)?

Also have a question, one of my defaults with capital one was with a DCA for years and I have been paying through them, I recently got a letter from capital one saying the account is now back in thier hands and out of the DCA'S. I have £49 pound to pay on it, I am considering writing to them saying I will pay this off completely if they remove my default??

Any suggetions on this?

Thanks

Might take you a while to get a decision too! I applied in the beginning of this month and only found out I was accepted last tuesday, lol

Good luck hun

x

bigbum_2

leemuddywaters wrote: »

Applied for a vanquis and aqua card last week, got a decline from aqua but still no heard from vanquis yet, anyone know what my chances are? 2 defaults with a credit rating of 805 (fair)?

Also have a question, one of my defaults with capital one was with a DCA for years and I have been paying through them, I recently got a letter from capital one saying the account is now back in thier hands and out of the DCA'S. I have £49 pound to pay on it, I am considering writing to them saying I will pay this off completely if they remove my default??

Any suggetions on this?

Thanks

Well, i successfully got a Vanquis with 2 defaults and numerous late payments showing on my credit file. Did you get your crdit rating from a CRA? If so, it's generally said that they don't really count for much as every company offering credit has it's own internal credit rating criteria.

The CRA rating system is effectly a money making tool for them.

Should add it took about a month from appying to receiving the card.

Good luck with Vanquis :beer:

xgingerx

Ive had my Vanquis card for 2 years, limit 1000

Today just had the interest increased from 44% to 52%

I never miss a payment, always pay more than the minimum and sometimes in full

Not happy

plumber2009

Got my vanquis card today.

Its the abacus card design but i thought this was discontinued.

I was given an APR of 34.9% for purchases and 0% for 2 months.


Anyone know any more about the vanquis abacus card?


xgingerx

I would give vanquis a call regarding the rate increase and explain to them that you have been a loyal customer to them and ask why you'r rate has gone up.

Try to pay in full as many times as possible as this will encourage a rate decrease and you wont pay any interest. If not try to pay at least 10% of your balance each month as this will also save you interest charges and clear your balance much quicker.

Hope this helps.

Q. If you dont mind telling, How many limit increases did you get and at what frequencys?

xgingerx

Q. If you dont mind telling, How many limit increases did you get and at what frequencys?

No probs, I got 200 start, increassed to 550 after about 9 months, then I went over my my 550 limit and they auto increased it to 1000