Vanquis - Incredibly, success!!

Matt16v

Hi,

Well, about 2 weeks ago i thought id start the ball rolling so i wrote to Vanquis bank asking for a list of all the charges applied to my account since i'd had the card (less than 6 years). I received a letter a few days later advising that they'd received my letter and would send me the details of my charges. Then yesterday morning (so less than 2 weeks of sending my original letter) i recieved a letter from Vanquis, which i obviously thought would be a list of the charges, which is was, accompanied by a letter offering me a full refund, £312!!!! I could not believe it, i hadnt even asked for the charges back yet! But i guess they thought they'd just skip the inevitable formalities and offer me the charges back straight away.

Obviously, it goes without saying that i shouldnt have been stupid enough to incur all these charges in the first place, and it is only my own money im getting back, but its still £312 i thought id never see again, so im happy!

Oh, the letter also advised that my account would be changed so that i could no longer incur charges for over limit, late payments etc etc etc, but that my interest would be going up, considerably. But, as my limit is only 250 and ive only got £100 on the card, as soon as the refund comes through ill be paying the card off in full and then cutting it into teeny tiny little pieces.

Good times. :j

MartinS

have you got a draft of the copy you sent, and the address you sent it to?

Regards

Martin

K1RST1E_2

That's great news.

Vanquis is the last one of mine. I called them a few weeks back as I pay double the minimum payment each month yet I always seem to be over the credit limit. They have been adding charges on. The person I spoke to removed three of them but this has gone on for a long time.

I sent a letter to them this weekend with a £10 cheque asking for all my statements since account opening as it is almost 4 years. Hopefully I will recieve this soon so I can see what other charges have been added and hopefully be able to reclaim them.

Kirstie.

CSM17

Hello all

I've had my Vanquis Credit Card since December 2009, I've paid my balance in full off each month since so they have now increased my limit to £500.
Could anyone tell me if my credit rating/score will now be improved or does this normally take nearer 6 months of having credit?

Thank you :):)

K1RST1E_2

hi,

if i were you, i would take out a free trial with experian and check your credit report especially if you are thinking of applying for credit. you can even order your credit rating for something like £5.95. obviously credit ratings vary dependant on the criteria for each company but it will give you a rough idea as to what category you are in e.g. poor, good etc.

i am a member of experian and check my credit report all the time to ensure companies are processing correct information and to keep track of my outstanding balances.

kirstie.

stephane_2

K1RST1E wrote: »

hi,

if i were you, i would take out a free trial with experian and check your credit report especially if you are thinking of applying for credit. you can even order your credit rating for something like £5.95. obviously credit ratings vary dependant on the criteria for each company but it will give you a rough idea as to what category you are in e.g. poor, good etc.

i am a member of experian and check my credit report all the time to ensure companies are processing correct information and to keep track of my outstanding balances.

kirstie.

A credit score with Experian is just a money making machine and it is not whatsoever a reflection on how a possible lender see your financial situation. A lender will judge your application based on your accounts management, debt ratio to annual income, time with bank, time at current address, time in current employment, electoral roll and other factors that lenders will not of course reveal.

stephane_2

CSM17 wrote: »

Hello all

I've had my Vanquis Credit Card since December 2009, I've paid my balance in full off each month since so they have now increased my limit to £500.
Could anyone tell me if my credit rating/score will now be improved or does this normally take nearer 6 months of having credit?

Thank you :):)

Your credit worthiness is not going to improve just over 3 months, may take up to a year minimum of a good account management to prove that you can handle credit & repay on time. Any mobile on monthly contract or store/catalogue account will also help to improve your credit file overall.

smiler03xxx

CSM17 wrote: »

Hello all

I've had my Vanquis Credit Card since December 2009, I've paid my balance in full off each month since so they have now increased my limit to £500.
Could anyone tell me if my credit rating/score will now be improved or does this normally take nearer 6 months of having credit?

Thank you :):)

Hi CSM, I too like you have had a Vanquis card (Freemans vias issued by Vanquis) I got it in December and my third bill has just come through this week which I am going to pay tomorrow, they also issued me with a 250 limit and I have paid the first two bills in full as I will do with this one, is this standard practice to have your credit limit increased so soon? My account is in good order and I have paid it off in full like you, when should I be hoping for a credit limit increase, does anyone kow? Thank you This site is so helpful!
Jenn x

izools

It could be any time, some start at £250 and have £2,000 within a year, I started at £250 in May and am still at £250 despite having never gone over limit, never being late, using the card regularly, and paying either in full or 50% of the balance.

Go figure...

smiler03xxx

izools wrote: »

It could be any time, some start at £250 and have £2,000 within a year, I started at £250 in May and am still at £250 despite having never gone over limit, never being late, using the card regularly, and paying either in full or 50% of the balance.

Go figure...

Izools.....yeah, that's a bit harsh! Fingers crossed they update yours soon
Jenn x

Experian_company_representative

stephane wrote: »

A credit score with Experian is just a money making machine and it is not whatsoever a reflection on how a possible lender see your financial situation. A lender will judge your application based on your accounts management, debt ratio to annual income, time with bank, time at current address, time in current employment, electoral roll and other factors that lenders will not of course reveal.

I'm sorry but this is very misleading. Experian builds scoring systems for most of the UK's big lenders. The score you can get from the Experian website is a very accurate guide to how your credit history is likely to affect a credit application. Because lenders' scores usually incorporate other data as well, their scores will naturally differ. But if you want to know whether your credit history will support or hinder your chances of getting credit, this is a great way of finding out.

James