What is the highest credit limit on a Vanquis Card?

saskay

Hi All,
I was wondering what is highest credit limit that one could progress on to on a Vanquis card. I went from £250 in Feb'09 to £500 to £1250 to £1500 to £2250 @ 47% at the moment (I know the APR is scary, but never paid any interest(ignoring the 16p min. fin. charge) since I got this card).
On their website it says

"You could get a credit limit increase on your 4th statement and further increases every 4 months, up to £3,000"

Is £3000 the max that they would give?

thanks.

digitalphase

I may be missing the point, but why would you want such a high limit with Vanquis?

You'd do better using it as you are, paying off in full each month so not paying any of their interest, for 12mths then trying to get a better card. If they up the limit too much - and they will, regardless of you using the card or not, it could impact on decent lenders lending you money.

fozmcfc

Does having a high limit actually mean that your credit rating is improving or do other companies not care if you have a £250 or a £2500 limit.

I'm thinking that a lower limit is better in the long run, because of peoples credit to salary ratio.

exel1966

fozmcfc wrote: »

Does having a high limit actually mean that your credit rating is improving or do other companies not care if you have a £250 or a £2500 limit.

I'm thinking that a lower limit is better in the long run, because of peoples credit to salary ratio.

It's not so black n white as it seems.

It will depend on current availalble credit on the card and overall to salary ratio, current debt to credit limit ratio, current payment to debt ratio (some are now recording payment amounts), whether that debt is on a promotional BT or not, payment history and all the associated personal factors which are numerous.

In your position I'd get a much better card elsewhere and then dump Vanquis ASAP irrespective of whether you're paying interest or not.