Vanquit Bank Credit Cards - Trusted or not?

Sun-E

Hi folks

I've got a some what poor credit rating and am working hard to improve it. I have no CCJ's or anything else quiet so severe and have kept myself on track for improving my credit rating in the last 4/5 year.

I understand about using credit cards (kept well in order and cleared at the end of each month if used) to help boost my credit worthyness over time and I keep getting these so called 'pre-selected' applications through the post from the Vanquis bank VISA organisation. I've never had any dealing dirctly with them and am naturally very suspicious but also keen to take an opportunity that may be beneficial to my credit worthyness.

Fellow forum users: These VISA Vanquis Bank people and they letters they send ... Is it a load of old tripe as I think it may be (obviously a valid organisation, but an unadvisable interest rate otherwise)? Does anyone have any advice for me in my perticular situation as regards going for an application, maybe getting the card, not using it so that I incure interest but gaining a better credit worthyness?

I'm a naturally suspicious as I said and want the opinion of othersthat could guide me correctly about this/

Any offers of assistance would be Really appreciated folks.
???
Ben Shotbolt

NekoZombie

everything you need to know is in the Vanquis thread. I suggest you look there.

Sun-E

I search using Vanquis as a keyword and many results are displayed
Which thread do you mean?

blitzboy

Hi Sun-E

Here is a link to the vanquis thread:

https://forums.moneysavingexpert.com/discussion/1482065


From my own recent experience i can thoroughly recommend them as a starting point, providing you pay it off in full at the end of each month. If not, it can get very expensive. I used it as a credit builder and was eventually able to apply for a barclaycard with a long 0% deal on.

Curr946

They are ok provided you dont leave a balance at the end of the month. They have interest as much as 39.9% I've read.

Sun-E

EXCELLENT! Thanks for the contribs' thus far folks

Tixy

Curr946 wrote: »

They are ok provided you dont leave a balance at the end of the month. They have interest as much as 39.9% I've read.

Scarily it can be as much as 69.9% (maybe it could be even higherbut thats the largest I've read about).

Sun-E - if you've been improving your file for the last 4/5 years and anything negative is older than that and you don't have any CCJs you might well be able to get a slightly better subprime card than vanquis. Maybe have a look at this article 'Bad Credit' Credit Cards:

Sun-E

OK thanks Tixy, much appreciated

estelle123

I have had my Vanquis card for over 2 years.No problem what so ever,brilliant customer service.

SnowTiger

estelle123 wrote: »

I have had my Vanquis card for over 2 years.No problem what so ever,brilliant customer service.

And I should think so too as it's at the other end of a premium rate phone number, although there are geographic and freefone alternatives which aren't as well publicised. :rotfl:

sharpy2010

SnowTiger wrote: »

although there are geographic and freefone alternatives which aren't as well publicised. :rotfl:

And which also now don't seem to work...