Vanquis.

Cantfindafreeuserid

Appologies for the awful spelling my keyboard is missing letters out! Must need a hoover!

SnowTiger

Cantfindafreeuserid wrote: »

I know the limit will be between those 2 figures but wondered if it would be the amount they offered as a cash advance or more? Would they max soeone out with a cash advance? Not that it is that important as I will not be spending anywhere near that per month anyway.

Should I try for more credit in a few months? A mobile phone contract maybe? Not that I really want one?

A while ago someone mentioned that Vanquis typically offer an initial cash advance of about 60% of your credit limit.

Getting a mobile phone contract might be a good idea. They're usually easier to get than other types of credit. I usually go for a free line rental offer from the Carphone Warehouse group of companies: e2save, mobiles.co.uk, etc. But you do need to be disciplined and remember to put in cashback claims.

Cantfindafreeuserid

I know it seems odd but the CCJ's are going to take me a very very long time to pay off so I am trying to rebuild my credit now so that they won't seem so bad in the future. Hope that makes sense? I only have them due to my ex leaving me with all our debt! Usual story! I am also looking for a 2nd job to be able to pay them off quicker. Now I have the vanquis card is it better to keep the catalogues as a way of building credit or paying them off and closing the accounts?

Consumerist

Cantfindafreeuserid wrote: »

I know it seems odd but the CCJ's are going to take me a very very long time to pay off so I am trying to rebuild my credit now so that they won't seem so bad in the future. Hope that makes sense? I only have them due to my ex leaving me with all our debt! Usual story! I am also looking for a 2nd job to be able to pay them off quicker. Now I have the vanquis card is it better to keep the catalogues as a way of building credit or paying them off and closing the accounts?

The question is: do the catalogue accounts appear on your credit file? If they do then keep paying them on time every time as well as the Vanquis card. Your credit file needs to demonstrate to a prospective lender that you are able to faultlessly service ALL your debts - that's all. If the catalogues' accounts do not appear on your credit file then they are making no contribution to repairing it. But they might damage it if you don't pay on time every time.

Cantfindafreeuserid

Ok I will keep them as they do appear and I will keep using them once they are payed off.

Many thanks.

Simon7685

I was offered a £200 advance when I got my account with them, I declined and my limit on getting the card was £250. So glad I never took it, again unless I am mistaken it counts as a cash advance so interest payable from day 1 and at a higher APR than purchases.

Also do not expect an increase on your 4th statement, even if you pay in full every month. From reading other peoples experiences it seems more likely to be after 6 to 8 months. Mine was 8 months and went from £250 to £1000.

My other advice to you is always make sure you pay it in full. I got into the habit of paying it online within a few days of the statement being produced. Yes that means you are paying it well ahead of when it's due but it's out of the way and nothing more to worry about.

sharpy2010

Your credit limit will be £250 upon receiving the card.

loopy136

I was offered the £200 advance but didn't need it. My limit is £500. I imagine your limit would be at least £250 or they wouldnt have offered it you.
I didn't know what my limit was until my letter arrived.

samtoby

Just to add a foot note to your questions about improving your credit... I had or do have rubbish credit which is improving. I have a Co-Op Cash minder account that reports onto all credit reference agencies as well as Very Account, JD Williams (Same as Gift shop place you mention) and T Mobile account which all have green lights but until my CCj was paid off my credit score went down and not up. Credit scores do not mean alot its more about what credit you have and how you pay it off. Just be careful. The trap of credit is so easy to fall in and its better to get everything clear and then start rebuilding. Just wanted to mention my experience.

Consumerist

I agree that whilst the CCJs appear on your file, you are going to have difficulty getting credit. Providing you keep everything well managed, however, you'll be in good shape when they do drop off your file (6 years, normally).