Got my vanquis card through the other week..

capitaine

And was wondering how much of the £250 limit do i spend per month & pay back in full in order to build my credit history? So far i've spent about £80 on it.

Also is it a good idea to pay it early, before they request their money so i can keep using it without getting near to the limit?

Thanks in advance, i have looked through the forum but couldn't find an exact answer to my question

ps Hi all :hello:

CLAPTON

- no exact answers to these questions

-don't pay anything back until you get the bill as any such payment will count as the previous period and you may end up getting in a muddle and not make a minimum payment in the billing period.

-set up a DD for the full amount so you never forget tp pay and never pay interest

-spend no more than 200 so there is always a little spare in case you miscalculate

no_more_cards_for_me

As above agree with Clapton's comments. DD in full is the way to go.

With Vanquis then pensonally I'd spend £10-£20 a month and pay it off via the DD. That will build your credit rating and ensure thathat you don't overspend on the card and incurr the punative interest ratesthey charge.

:beer:

TastyTeeth

I've been using both my Vanquis and Cap1 cards as day-to-day spend cards and paying both balances off in full as soon as the statements are generated and well before the due date.

I've taken both cards up close to the limits each month without any problems, knowing that I have the cash in the bank to pay them both off in full each month.

Hope that helps.

sharpy2010

no_more_cards_for_me wrote: »

As above agree with Clapton's comments. DD in full is the way to go.

With Vanquis then pensonally I'd spend £10-£20 a month and pay it off via the DD. That will build your credit rating and ensure thathat you don't overspend on the card and incurr the punative interest ratesthey charge.

:beer:

Unfortunately if everyone did that, then Vanquis would struggle to exist as a card provider.

There is nothing at all wrong with keeping a balance on the card, albeit a relatively small one, and pay a few quid interest every now and then.

capitaine

TastyTeeth wrote: »

I've been using both my Vanquis and Cap1 cards as day-to-day spend cards and paying both balances off in full as soon as the statements are generated and well before the due date.

I've taken both cards up close to the limits each month without any problems, knowing that I have the cash in the bank to pay them both off in full each month.

Hope that helps.

And have you had any credit limit increases?


Thanks for the other replies guys, taken on board

sharpy2010

capitaine wrote: »

And have you had any credit limit increases?


Thanks for the other replies guys, taken on board

I had an increase on my card from £250 to £500. Usually I pay mine off in full, the one month I didn't was when they increased the limit, and I wonder if thats because they know I'll pay, but because I was close to the limit when the statement was produced, they gave me a bit more to play with.

Who knows!

callum9999

I haven't put anything on my Vanquis card for ages but it still gets reported as a green zero every month - I don't see how actually spending money on it helps anymore than that?

Unless you are just recommending that so the card isn't cancelled due to never using it?

capitaine

callum9999 wrote: »

I haven't put anything on my Vanquis card for ages but it still gets reported as a green zero every month - I don't see how actually spending money on it helps anymore than that?

Unless you are just recommending that so the card isn't cancelled due to never using it?

Have they increased your limit?

TastyTeeth

capitaine wrote: »

And have you had any credit limit increases?


Thanks for the other replies guys, taken on board

No reason why I shouldn't but it's too early for me - I'm only at the 2nd statement stage on both cards (all statements paid in full 1 week after each statement was generated). I'm hoping that by the 4th statement I've had increases on both of them (Vanquis limit currently £250 and Cap1 currently £300).

I think I'm going the right way about it? Fingers crossed...

mrandmrsselby

I have had a VANQUIS card for 7 months now, and had 1 increase to £500.
Capital One will not give me a card but I'm hoping VANQUIS will increase again after 8 months.