An interesting read for anyone with Vanquis...

jon142

http://www.providentfinancial.com/files/pdf/vanquis_bank_investor_day_2011.pdf

SnowTiger

jon142 wrote: »

http://www.providentfinancial.com/files/pdf/vanquis_bank_investor_day_2011.pdf

Yes, that is quite interesting.

I was surprised to learn that fewer than 20% of Vanquis credit card applications are successful; their average customer has an income of between £15,000 and £30,000; 9 out of 10 Vanquis customers would recommend them to others; and their average customer has a credit limit of £900 and carries a balance of £650 with an average repayment of only £50 a month. A typical customer has an APR of 39.9%, so for Vanquis it's virtually a licence to print money.

They seem to know their market very well.

jonesMUFCforever

I disagree with the licence to print money bit - people who use them are people with rubbish credit histories who would not get credit elsewhere.
I bet their default ratio is much much higher than a mainstream lender.

Fruit_and_Nut_Case

jon142 wrote: »

http://www.providentfinancial.com/files/pdf/vanquis_bank_investor_day_2011.pdf

That is interesting. Is it actually supposed to be available for the general public to read?

mjm3346

jonesMUFCforever wrote: »

I disagree with the licence to print money bit - people who use them are people with rubbish credit histories who would not get credit elsewhere.
I bet their default ratio is much much higher than a mainstream lender.

Not according to their figures and they only need 2.4 good accounts to make up for each bad one while the prime lenders need 18!

rartherinv

it's a shame that was on the 14th november 2011... could have asked martin to inform all users of the free drinks and canap!s on offer:money: :rotfl:

jon142

Fruit_and_Nut_Case wrote: »

That is interesting. Is it actually supposed to be available for the general public to read?

No this information shouldn't be available to the public but isn't that what the Internet is for?

Gives an idea of vanquis's internal lending policy's and what they are looking for age income etc etc

Simon7685

Very interesting article, wonder where OP found it?

CKhalvashi

This is why companies like Vanquis are generally good to invest in (I’m not a Vanquis customer, however do have cash savings with them)

This is a company that knows its market well, tries to sort problems at early stages sympathetically, and reviews limits, instead of whacking a high limit on, then it got getting paid.

Vanquis are responsible lenders to a much better point than others.

Just my 2p

CK

Road_Hog

Fruit_and_Nut_Case wrote: »

That is interesting. Is it actually supposed to be available for the general public to read?

Nope, it's a PowerPoint presentation, for a seminar/meeting. Some knobjockey has left it on a company server for all and sundry to see. Don't expect it to be up there for too long.

Interesting that they reckon on only an 18% approval rating and a 75% usage of credit limit.

They seem fairly well switched on about their target market and customers. Reading that presentation, it looks like they want to float (sell off) the rest of the company.

Which is bad news for customers. It means Vanquis have built up a good brand and worked hard at customer service and then some w@nk bank will buy it out, it give the usual 'Santander' service.

Cash_Flow

A very good read that, thank you OP;)