vanquis question

west43

Hi, I recently applied for a vanquis card to help build my credit, had a message online when I filled in the application, will be intouch in 7-10 days, the past few days I have had a number ring whilst at work, left no message but on checking the number on google it says its vanquis, however on reading through some posts, which is what I should have done before I applied, I am unsure if I even want a card from vanquis, it stated on the site when I checked the number if they ring you you have been accepted, if I do not answer their calls will go away.

wizzywig27

why would you not want the card? If you want a card to rebuild credit, then it is a good starting point :-)

west43

Just read the interest rates, still I suppose you are right its a good start, I suppose that I would be lucky to be accepted, never really got into the credit thing, so I have no real credit history at all.

craig_29

I know a lot of people that have been refused a vanquis bank card who have either no credit history or a bad credit rating, so if you are looking to build up your credit report I would definitely recommend accepting this card. If you don't want to spend much then you don't have to, just draw £10 a month off it and then repay it at the end of the month when you get your statement through.

almost_there

I got Vanquis card last month with a rate of 34.08% as some "mainstream" cards are now approaching 30% this for re-building your history isn't bad at all.

wizzywig27

my APR is 59.94% - not too bothered though as I am going to pay off every month

craig_29

Yeah wizzywig, everyone tends to panic about the APR and rightly so but if you repay every month and don't go mad with spending then its not a problem. Its a sensible way of rebuilding your credit history.

west43

Hi, thanks to all replies, have took the phone call this morning to say that I had been accepted, and offer me a cash advance which I declined and my card will be here in the next 7 days or so, which means I can now start to build my very thin credit history.

craig_29

Ahhh great news, good luck with rebuilding your credit history that card should definitely help you out.

evanjonesaber

Congratulations mate, just be careful, spend little and pay all back and you will soon build up those little green ticks

MediSin

Don't spend any money on it - the interest is appalling.
I would suggest Littlewoods catalogue if you just need some sort of credit to build your history. Buy something very cheap, you get 20 weeks interest free to pay it off. As far as I can tell, they'll accept anyone. They accepted me and my credit score has always been abysmal, having got into debt as soon as I got the opportunity. After a couple of years, Littlewoods had increased my credit limit to about £9000. Luckily I didn't spend it, but I was very surprised they were prepared to risk it. So they don't seem too discerning, if you see what I mean!