Vanquis Granite - Credit Limit Increase or Not?

Simon7685

I had a call yesterday from Vanquis bank, they said that my account was 'under review' for a credit limit increase as I am in my fourth month with them. They said that I was managing my account perfectly as I use the card and then pay in full each month and that people who manage their accounts in a good manner can expect to receive a credit increase every 4 to 6 months.

He then went on to offer me a 'special offer' on their Repayment Option Plan which they would give me free for 3 months and no obligation to continue after the free period.

I declined their offer and explained that it wasn't something I had any interest in. He said that was fine and tried again a couple of times but then gave it up as a bad job I think. Before he rang off, I decided to get back onto the credit increase thread, he initiated the call with. I was trying to get an idea of when and how much it might be. Strangely he became really stand offish and would only say that IF I was offered an increase, it would be notified in writing or on my statement, if I got them online. He would not commit to anything other than IF and would not move to a when or be drawn on an amount. Infact he couldn't end the call quickly enough.

Unfortunately I never thought to ask this at the time but was this 'increase' dependant on my accepting this??? It seems a bit strange that he was falling over himself to tell me about an increase at the start of the call. My account went from being under review for a credit increase to an IF we give you one and the tone changed completely.

I wondered if anyone else had any experience of this with Vanquis???

I know all the pitfalls of Vanquis and the high interest rates etc but to be fair, when you don't have a viable option of a mainstream card, they do serve their purpose. A more realistic limit would be useful to have and I can't help but wonder if any increase is tied to this repayment option thing??

Any thoughts or experiences anyone??

alfred64

Just one of the tactics used by salesmen.

skibadee

mmmmm come to think of it I got a credit increase in same situation too with Vanquis....strangley...never thought of it before...I cancelled Payment Protection etc.,....and I haven't been offered another increase....even though my account is as good and 'well managed' as it was at time of first increase.

SnowTiger

Vanquis/Granite traditionally offer a credit limit increase around the time of the third or fourth statement if the account has been run well.

The purpose of the call you received was to sell you another product.

Simon7685

I think, if I don't get offered an increase by my next statement, I might call them and ask if the 'special offer' is still available and if it is I will take it free for the 3 months and see if an increase comes in that time. I have to admit I did get the distinct impression that if I had said yes an increase letter would have been in the post.

Glasgow12

i have had 2 credit increases with them none of which were linked to taking on any other products and both seemed to come out of the blue but were linked to me managing my account well...hope this helps

Simon7685

I would be happy with just the one increase to be honest, if it went to £800, which is what most people seem to get. That would do me fine and I would probably never use it but it would be nice to know it was there for a desperate situation, which at their APR's would have to be desperate. £250 as a limit isn't much at all, though I understand you have to start somewhere.

izools

Taking advantage of the special offer won't affect your eligibility to a limit increase.

My OH had a Vanquis card without any extras whatsoever and over the three years he had it his limit was increased in stages from £250 to £3,000.

sharpy2010

The salesman was only interested in one thing: selling you extra product.

The nonsense he was rambling about a credit limit increase was purely a way to start a conversation on the phone.

An increase will come when the computer decides it is good and ready. Regardless of whether you take up the insurance or not!

chanz4

my start was £500, approved last week but hardsell with their ppi under a diff name. it didnt work for them. I only got it for the cashback from topcash, no intention of using much

Simon7685

I still can't help but think there could have been a link, if I accepted the plan offered. I get what you are saying about the computer decides when a limit increase happens and I know that is right but surely it could also be that accepting the repayment plan might have triggered an increase at the same time? After all I have been using then paying in full every month and plan to continue to do that, so in effect I am using their money every month and helping my credit to rebuild and they are getting nothing out of the deal. So I can't help but wonder why would they increase my credit if they make nothing out of it?