My Blood Is Boiling!!!

angel31572

I have a Vanquis Credit Card which is sitting at £1750. I have had the card for over two years and have never missed a payment. The interest rate is very high (26.52%)

Today, I discovered they have raised the interest rate to 33.77%!!!!! I am so angry. I know the card is my choice, and I am making an effort to clear it, but this hike in rates is riddiculously high, surely?? :mad:

crazyfj

can't you get another card? if you have been paying for two years then you may have a better chance such as capital one and do a bal transfer?

wyebird

Yes, Vanquis have some evil rates! They put mine up to nearly 50%...had had the card over 2 years and always made payments. Closed it and they phoned to ask me why...maybe it was the 0% balance transfer I was offered by Mint ;-)
Anyway, if you have built up a good record you should hopefully be able to get a better deal elsewhere

highguyuk

Firstly, ring them up and threaten to leave if they do not reduce your APR.

Then, either way, shop around and do some research and apply for a 0% BT transfer card.

[Deleted User]

Vanquis are owned by a group of loan sharks called provident. They hire people that go around selling small value loans 100-500quidish to people that really cant afford it in the poorest areas of england, they have a minimum interest rate of 160 odd percent.

This company are best avoided completely. Find out your credit rating and see if its good enough to move try the moneysupermarket-experian smart search facility. I would try a MBNA card as they dont seem too fussy about the customers they get go for the "sony" one or something.

http://www.mbna.co.uk/creditcards/mbnacards.html

alirob12

get rid of it quick and go for mbna cards - or any other - does not matter - most of them will be cheaper than what you hav at the moment. do a BT and u ll pay off your debt way quicker and close that card completely!