Vanquis card

bandicoot421

Got my F&F offer accepted last month Sept 13th and low and behold this morning Mr Posty brings me an 'Already Accepted' credit card from Vanquis, to my supprise i recalled that this type of expensive credit card ( 39.99%) may be used to re boot my credit rating, lower than snake sh*t :eek:i should think at the moment.

Has anyone any experience with using this company to re build there credit score or have anyone got a better method or know of a 'reputable' company who could offer me a better deal.
I know its not advisable to take out a credit card and must admit this is how i ended up in an IVA, (never again).
i have read somewere that i should find a suitable card and use it to buy £20 of say petrol a month then pay it back asap monthly all of the amount and this may help my credit rating. :cool:

Jeff_Bridges_hair

These cards will start boosting your credit score if you use them responsibly. The example you give is perfect but you need to be very strong and not to give into temptation when you are a bit short towards the end of the month to sue it if you cant pay it off in full.

There is THIS prepaid meastro card which may be better for you as it loads on the monthly fees first as a form of loan then you just pay off £5.95 per month(the monthly feee for the card) which then shows up that you have paid off a loan. If that makes sense. cheaper and with less temptation than the above credit card as if you dont load money on to it then you cant spend it.

Marting has some info HERE.

With any product, research first then work out what you can actually afford. And remember, rebuilding your credit wilil not give you instant access to future cheaper credit. Its a start though.

Aidanb_2

I had a Vanquis card got it near the end of my iva so had to cancel it but then once I got confirmation from Payplan I could then I got a capital one card it's a poor credit credit card but I get so much back for what I spend I spend so much a month and pay off in full each month this has boosted up my score a little as it shows I am managing my monthly payments and easy to track on my phone so I know where I am each time and also get a alert if I get near my comfortable limit so I have full control with it.

If you have that control not to overspend on it then its a good thing but like you that's what got me in to debt so just think what you have gone through over the past 5/6 years and you won't do it again.

Aidan

adyj73

They give anyone a Vanquis Card LOL

FavDaughter1

I understand why people go this route to re build credit but it scares the life out of me:eek:.

this wasn't the first time my husband built up a lot of debts ( i had a card with a small balance on too). he had taken out a secret bank account, arranged overdrafts on our joint bank account even got a £15k loan i knew nothing about.

i have felt more worried about "getting straight" than being up to my neck in debt lately. it's then that he wants to be in "control" of finances again.

there is so much shame with debt. i/we had told no one except my parents who lent us money to do a F&F IVA. i was getting in a state,Dad kept saying,"you'll have to keep your eye on him".

BUT - you can only monitor what you know about.

i went to see my Dr & talked to her about it all. she's told my husband that he's like a alcholic who must NEVER have a drink. she's arranging counselling for him,got fingers crossed.

i doubt i'd even have a card myself,i don't want to create temptation for him& it scares me.

take great care,if handled carefully you'll be fine. no offence intended,i'm sure my husband isn't the only person who shouldn't have cards again,he calls them DEBT cards now instead of credit cards.

FavDaughter1

that'd explain why we've had letters this week lol