Vanquis credit card - 39.9% APR

*Louise*

That is a disgusting interest rate - unfortunately some people will end up applying because they are desperate or don't understand rates.....

scott_lithgows

I refused two loans last year as they had a higher rate than my local credit union,i was then bombarded with offers like this through the post(i suspect my details were "sold"),i ended up registering with the mail preference society via https://www.tpsonline.org.uk/ and got them all stopped.

bbruce

There have been several threads on this topic. Some people are pleased that they have been given a lifeline.

Fedz

Vanquis should really be your last resort!

If you really can't get a Capital One and or BarclayCard then Vanquis is an option.

I have a Vanquis credit card. They are pretty good in all honesty. They are ok if you don't / can't have a debit card as they give you cheques also to be used against you're account but, be aware cheques apr is applied instantly.

The apr on my Vanquis account is 30.030% slightly higher than say Barclaycard (Initial) at 27.9%

In reality Vanquis aren't that bad at the side of other issuers.

Littlemiss-lotsofdebt

Vanquis look positively appealing compared to Provident Loans - their website boasts a typical APR of 177% APR :eek:. If you borrow £500 over 23 weeks the APR shoots up to 497.4% APR!!!!!!!!!!!!!

It's daylight robbery.

wullieb1

Lets have a proper look at this shall we.

How many people on this board pay there credit card off each month??

After using this board it plainly says to pay your card off each month. Bleets about responsible borrowing. Is this not a good way to learn that?? If you don't pay it off each month you WILL pay over the odds in interest and its your own fault.

If you don't fancy the card than don't apply its a simple as that. They won't miss you i can guarantee you that.

James240

although i understand there a business that rate is truly disgusting and preys on the people that are desperate

inmypocketnottheirs

Two sensible posts and the usual critical comments. I use a Vanquis card. I get credit card protection on my purchases, no handling charges for overseas transactions (during a trip to the US, the rate used by Vanquis was 7 cents in my favour than Capital One Premier and 4 cents in my favour than Barclaycard Initial), their customer service is based in the UK, so when you have a query you don't have to repeat yourself five times, they are polite and helpful, I pay my balance off in full without fail every month. Oh and by the way, if you opt for their 'no suprises' card there are no charges for exceeding your credit limit or late payment charge. And this costs me £19 per year.

Because of the fascist mentality of the mainstream banks and credit cards, apparently I am not eligble for the sort of cards the derogatory posters clearly have due to some difficulties four years ago (everything now resolved but default notices and late payments on accounts show for six years) I am grateful that there are at least some lenders prepared to give me a 'helping hand'.

My advice to those who find 39.9% 'shocking', 'absolutely outrageous', 'disgusting' or to others who thinks that anyone applying for one of these cards is financially incompetant or poorly informed, count themselves lucky not to have suffered the myriad of events that can impact on the credit worthiness of an individual such as redundancy, divorce, long term illness, industrial accident ........ etc.

Why not show adult maturity and when you get one of these mailshots, just throw it in the bin? There's no shotgun pointing at anyone's head demanding an application. But I suppose it makes some feel good putting the form back in a reply paid envelope and writing churlish comments.

Well there's my thoughts on the subject, upset a few no doubt!

Niteflyer

I have a Vanquis Card and they saved my credit history, thanks to them, I was able to get a mortgage and mobile phones!

My APR is 30% and I only use it for about 50 pound a month. which I pay off in full, paying NO interest!

There customer service is SECOND to NONE!!

At the end of the day, if you don't want the card, don't have it!

Oh, my god, I just went to a place called Burger King, they are selling 2 rolls, 1 beefburger and some salad for 2.89, that's much dearer than McDonalds! That's disgusting! No, it's not! It's a matter of needs and choice!

ms_london

I have a Cap One CC, which I was amazed that I was accepted for (given my credit history and ((now cleared)) debt!!) - the APR is 29.9%, however, whatever I spend on it, I pay off in full each month. Using the card to improve my credit rating..

Up until I found places like this board, I wasnt even aware of the APR of my debts, or what they even meant (yes, very stupid!!) - so a lot of people who receive the Vanquis Card Application, again, probably wouldnt have an idea. Or those that are desparate for more credit might just ignore the fact.

Thank goodness I had my lightbulb moment!! xx