Vanquis Scam?

Hax

I think that your friend has simply paid for:

1. Someone to try and reclaim any PPI that they may have paid on other credit agreements
2. Someone to try and find a loan for them

In each case, the emphasis is on the word "try" - nothing is guaranteed. As for you insinuating that Vanquis are part of some elaborate scam, then I think you should retract that as the only thing they have done is handed over money for the services your friend requested.

Did you friend get the service advertised? I'm guessing that's going to be hard to prove one way or another - and I guess it would therefore make it harder to get a chargeback.

Receiving a services isn't as black and white as receiving goods.

KingElvis

LOL, this thread has the lot, dodgy Vanquis cards, Yes Loans, We fight any claim.

It's like a "who's who" of the credit world's gutter snipes.

This thread also shows me that some people shouldn't be trusted with credit cards, even if it is the worst card out there by far.

UnderPressure

KingElvis wrote: »

LOL, this thread has the lot, dodgy Vanquis cards, Yes Loans, We fight any claim.

It's like a "who's who" of the credit world's gutter snipes.

This thread also shows me that some people shouldn't be trusted with credit cards, even if it is the worst card out there by far.

I have to say KingElvis I think your being a wee bit harsh here on Vanquis, as we all know they are a sub prime lender who operate in a very risky area of finance, to the people who use them (me included) the very fact that Vanquis will trust them and give them a second chance is excellent. Anyone who has been in a mess with finances in the past and have a not so perfect credit record (me included) are grateful to Vanquis (me included )

For people in my situation they are excellent, I have been through the nightmare of debt and still am to a certain extent but Vanquis help in a huge way, if you are determined not to get into a mess again then you are completely aware that using this card as a long term lending solution is the wrong idea as it will cost a fortune, so it helps you to get to the point where you are spending within your means and paying the debt off in full at the end of every month, whilst at the same time reporting lots and lots of green 0's on your credit files.

There is a right way and a wrong way to use ANY credit card the fact that Vanquis APR etc is high just reflects the area of finance they work in it is down to the individual to make sure they dont leave themselves open to this interest rate.

To the OP, your friend obviously has debt problem to be even contemplating a loan with Yes Loans this should be a concern if you are trying to help, so far as the fees he can give Vanquis a call and tell them he did not understand what he was agreeing to and then ask if there is anything they can do to help him. The £1 fee a month is a standard thing with Vanquis I believe some member have been successful in calling them and getting this refunded to their account, the best thing to do is for your friend to setup a whole balance direct debit then spend say 20-50 quid a month on the card and pay it off in full.

Vanquis are not a "dodgy scam" firm, people with good credit reports think they are because of the interest rates but as I have explained this only reflects the high risk area of the market they work in.

HTH