Cancelling VANQUIS

oceanscape

My son wants to cancel his Vanquis card, it's done it's job and it's time to trash it!

Can he just call up and cancel or do they need it writing? Anyone have any experience? How long will it take until it shows up as settled on experian?

CHEERS!

never-in-doubt

oceanscape wrote: »

My son wants to cancel his Vanquis card, it's done it's job and it's time to trash it!

Can he just call up and cancel or do they need it writing? Anyone have any experience? How long will it take until it shows up as settled on experian?

CHEERS!

why the concern as to when it shows as settled? if the card isn't being used then it'll have no effect. Too many people mention this avaialble credit mallarkey, trust me a £3k max limit on the dreaded V does not go against you. This Experian con does nothing for anyone - the credit things they show you mean zilch in the real world! forget it all - its worthless info!

Its a joke

anyway, with the answer to your question you simply make sure no balance and write letter with card cut in half and they do it within 7 days. Account will be cleared with 28 days. CRA can take anything to 3 months to update but in fairness, the usual is the same as the previous update dates that were loaded when the account was active.

oceanscape

never-in-doubt wrote: »

why the concern as to when it shows as settled? if the card isn't being used then it'll have no effect. Too many people mention this avaialble credit mallarkey, trust me a £3k max limit on the dreaded V does not go against you. This Experian con does nothing for anyone - the credit things they show you mean zilch in the real world! forget it all - its worthless info!

Its a joke

anyway, with the answer to your question you simply make sure no balance and write letter with card cut in half and they do it within 7 days. Account will be cleared with 28 days. CRA can take anything to 3 months to update but in fairness, the usual is the same as the previous update dates that were loaded when the account was active.

Huh???? He's only a student and I thought that too much available credit went against him for new apps?? e.g. he wants to apply for Play card soon....

never-in-doubt

oceanscape wrote: »

Huh???? He's only a student and I thought that too much available credit went against him for new apps?? e.g. he wants to apply for Play card soon....

He'd be better keeping Vanquis as it will keep showing the green [0]'s which is what he wants on his credit report....

Regards to Play card - you sure about this? Play are dodgy - their card is also MBNA which isn't the best. However, keeping his one and only card is not a bad thing, yea the apr will be, but i'd be looking to keep the card - shows I can handle credit....

Brian1966

Surely he would be better keepimg the Vanquis and maybe approaching his own bank to see if they will offer anything.
As NID says keep those green zeros rolling in, spend and pay off to show an ability to use credit wisely. :beer:

oceanscape

Thanks for the replies. He has had the Vanquis card for 18 months now so has lots of green zeros.

He's got a Halifax Amazon card with a £1500 limit, FlyBe with a £1000 limit and NatWest with £500 limit. Hence why the Vanquis (with its 39.9% APR and £500 limit) isn't much cop.

Anyway, he phoned and they cancelled it there and then and said confirmation will be in the post within a week.

never-in-doubt

oceanscape wrote: »

Anyway, he phoned and they cancelled it there and then and said confirmation will be in the post within a week.

Nice one - glad its sorted. :T