Ever heard of Vanquis Credit Card?

tsharp · 2 May 2006 at 6:13PM

I got some junk mail today from a credit card company called Vanquis, never heard of them before, but they are offering a card at 39.9% APR!!!.

Who the fukc would get a card at this APR? Are they mental even offering a card with such absurd rates? The sad thing is some people will actually get this card.

No thanks, I have enough credit card debt. Also, i am gonna post this back to them in the pre paid envelope with some other junk mail in it so that it costs them P&P...

sicker · 2 May 2006 at 6:56PM

May I suggest you do a search for Vanquis on this board. There have been a lot of comments about this company over the past few months many suggesting this card could be a reasonable way of building up a credit history.
What difference does interest rates make if you clear your debt on time each statement. I myself am in the happy position I do not need them.

John

tsharp · 2 May 2006 at 7:00PM

If you never incur interest on your purchases, then fine. But 39.9 is worse than most store cards. It's so uncompetitive it's almost not worth their while. (but sadly it is, otherwise they wouldn't exist)

sicker · 2 May 2006 at 7:10PM

I totaly agree but sadly for many people with no credit history this my be the only credit card company willing to accept them. I don't like hospitals but in times of need !!!!!!!!!!!!!!!

John