What to do? Vanquis/Tesco

Drea

Hey all,

Hoping for some advice. I've just tried an application online and been accepted for a Tesco Clubcard Credit Card with an APR of 21.9% and a limit of £1,000. It allows balance transfers with 0% APR for 9 months.

I currently have a Vanquis card with an APR of 39.9% which I have a balance of £686.78 on (I know, I know). I also have a Capital One card with a balance of £257.09 and an APR of 34.9%

I'm hoping to do a balance transfer from both of these to the Tesco card but have heard that Vanquis don't allow automated transfers, only manual ones. Does anyone know if Tesco will do this?

If so, I'll then get rid of one of the old cards, obviously Vanquis is the highest APR but with a much higher limit than Cap One so is it sensible to keep this one? I'm just a bit clueless with it all really....

Thanks for any help

Consumerist

So you owe about £1,000 in total so it would only take a few months of shopping which you should put on the Tesco card and then use the cash which you haven't spent to pay off the cards.

If you can't get a BT to clear the cards then you can do it as above. If you can clear the Cap One by a BT then do it anyway. You are still saving on the 34.9% APR by paying it off.

alfred64

You should be able to do a balance transfer from Vanquis. Even if they don't like it, they will not prevent it.
Vanquis bank account number on back of statement is listed as 0000 0001 which looks a bit unlikely (although it may still work) sort code 60-95-94
Their bank account number when I did a transfer was 50409510 and sort code: 20-11-81.

saskay

Drea wrote: »

Hey all,

Hoping for some advice. I've just tried an application online and been accepted for a Tesco Clubcard Credit Card with an APR of 21.9% and a limit of £1,000. It allows balance transfers with 0% APR for 9 months.

I currently have a Vanquis card with an APR of 39.9% which I have a balance of £686.78 on (I know, I know). I also have a Capital One card with a balance of £257.09 and an APR of 34.9%

I'm hoping to do a balance transfer from both of these to the Tesco card but have heard that Vanquis don't allow automated transfers, only manual ones. Does anyone know if Tesco will do this?

If so, I'll then get rid of one of the old cards, obviously Vanquis is the highest APR but with a much higher limit than Cap One so is it sensible to keep this one? I'm just a bit clueless with it all really....

Thanks for any help

What is your credit limit on cap1?
Regarding the balance transfer ensure that you speak to a person @ Tescos and explain that Vanquis do not take BTs automatically, Tesco guy will ask you for the Vanquis bank ac# as someone pointed out earlier it should be on the back of the statements. Once you receive a letter from Tesco's confirming the BT, keep the letter safe. Vanquis donot like people doing BT from them to others and will restrict your ac and ask for source of the payment (i.e, the BT) you can just send a fax copy of the Tesco letter every thing should be alright. Ensure that you do this leaving BT with plenty of time so you do not have a nasty experience with Vanquis.

Drea

Thanks everyone

saskay wrote: »

What is your credit limit on cap1?
Regarding the balance transfer ensure that you speak to a person @ Tescos and explain that Vanquis do not take BTs automatically, Tesco guy will ask you for the Vanquis bank ac# as someone pointed out earlier it should be on the back of the statements. Once you receive a letter from Tesco's confirming the BT, keep the letter safe. Vanquis donot like people doing BT from them to others and will restrict your ac and ask for source of the payment (i.e, the BT) you can just send a fax copy of the Tesco letter every thing should be alright. Ensure that you do this leaving BT with plenty of time so you do not have a nasty experience with Vanquis.

My credit limit with Cap One is only £500 so not ideal. If needs must I will get rid of Vanquis completely although would rather not have issues with them

My limit with Vanquis is £2,250...