Vanquis 9 mths old/What next? ANOTHER UPDATE

izools

Have you considered Aqua?

That's mastercard and as long as the last 36 months have been spotless your pretty mush assured I personally would hold off until the CCJ drops off and give Sygma Silver & Barclaycard Initial a go

Cap 1 Classic have odd criteria, I can't get one for love nor money.

southernguy_2

I think i might wait

I don't think there's much to gain in applying for the Aqua re APRs

southernguy_2

Update

Following appealing Capital One have accepted me for a Progress Card.

Still awaitng Tesco who wrote to me recently asking for last three months bank statements.

So who knows

But good news about the Progress Card.

Although letter slightly deceiving

Website shows typical 29.9% APR reducing down to 17.9% letter says 34.9% reducing down to 19.9%

but it shows the rate reducing every six months, credit limit of up to £2500 and availability of balance transfer so must be a Progress and not a Classic.

onefortheroad_2

southernguy wrote: »

Update

Following appealing Capital One have accepted me for a Progress Card.

Still awaitng Tesco who wrote to me recently asking for last three months bank statements.

So who knows

But good news about the Progress Card.

Although letter slightly deceiving

Website shows typical 29.9% APR reducing down to 17.9% letter says 34.9% reducing down to 19.9%

but it shows the rate reducing every six months, credit limit of up to £2500 and availability of balance transfer so must be a Progress and not a Classic.

and now your rate go down over 36 months now it.s take longer for your rate to go down

izools

southernguy wrote: »

Update

Following appealing Capital One have accepted me for a Progress Card.

Still awaitng Tesco who wrote to me recently asking for last three months bank statements.

So who knows

But good news about the Progress Card.

Although letter slightly deceiving

Website shows typical 29.9% APR reducing down to 17.9% letter says 34.9% reducing down to 19.9%

but it shows the rate reducing every six months, credit limit of up to £2500 and availability of balance transfer so must be a Progress and not a Classic.

Ah you were put on the old progress card deal - they only changed it today.

This means your APR will reduce by 5% every four(?) months down to 19.9% so the process is quicker, but the lowest APR is slightly higher.

Do you know what limit Capital One have given you yet? They're normally really stingy with the Classic & Progress.

southernguy_2

Don't know limit yet Doesn't say

Looks like i've got a mixture of the two

It actually says

"We'll reduce your purchase and balance transfer rates by 5% on your 4th statement and every 6th statement after that. We'll continue to do this until these rates reach 19.9% p.a variable."

izools

Oh it's every six statements after the first decrease. That figures. You're on the original progress card deal not the new one

James129

southernguy wrote: »

Update

Following appealing Capital One have accepted me for a Progress Card.

Still awaitng Tesco who wrote to me recently asking for last three months bank statements.

So who knows

But good news about the Progress Card.

Although letter slightly deceiving

Website shows typical 29.9% APR reducing down to 17.9% letter says 34.9% reducing down to 19.9%

but it shows the rate reducing every six months, credit limit of up to £2500 and availability of balance transfer so must be a Progress and not a Classic.

I got my first ever credit card (capital one progesss) in August. My apr is 30.340% and it will shrink down to 18.64% after 3 reductions. However they only gave me credit limit of £200. I had applied online was accepted instantly.

I had actually applied for Barclays Initial 3 days before but got the message they needed to collect more information but they gave me much higher limit.

BugsyBrowne

James129 wrote: »

I got my first ever credit card (capital one progesss) in August. My apr is 30.340% and it will shrink down to 18.64% after 3 reductions. However they only gave me credit limit of £200. I had applied online was accepted instantly.

I had actually applied for Barclays Initial 3 days before but got the message they needed to collect more information but they gave me much higher limit.

Basically the progress card is a load of old bollix,keep up your payments for the next 3 years and then they lower the rate to a normal rate,never heard so much cRap.

izools

star-fire wrote: »

Basically the progress card is a load of old bollix,keep up your payments for the next 3 years and then they lower the rate to a normal rate,never heard so much cRap.

Better than Vanquis, Aqua, and Cap One Classic who never reduce the rate though, isn't it?

And the poster is on the old cycle which yeilds 19.9% within 16 months, not three years