Balance transfer from the dreaded 'v word' (Vanquis)

charlottep88

Happy New Year to all!

I realise BT from Vanquis have been covered a little but just wanted an opinion on my situation.

As part of a resolution to reduce my commitments so that my husband and I can move house at the end of 2014 I checked my credit score this morning with Credit Expert (Experian). It was better than I thought, 896 rated as good.

I have a Vanquis *shudder* card I've had for probably around 3 years and it makes me sick every month I make a payment. Unfortunately, due to circumstances the balance has spiralled out of control but I have always made my payments on time and I'm now in a position where I need to do something about it. It would be fantastic if I could move the balance to a more 'mainstream' credit card provider but paying the same amount in order to bring the balance down considerably.

I realise due the Vanquis' greediness, it's not all that easy to move the balance to another but I was wondering if anyone had had experience moving to a different card and the likelihood of me being accepted. Along with my credit score of 896, I am 24, a homeowner for (3 yrs 3 mths) and earn over £25,000 a year.

Many thanks in advance for any advice, if I could get this sorted it would be an amazing weight off my shoulders.

Anthorn

So you allow your finances to spiral out of control and you blame Vanquis. They provided you with a service which you were no doubt pleased to have at the time which also no doubt contributed to your credit score.

I'd say you would be better leaving credit cards altogether, pay off what you owe and be done with it! Either that or learn to manage your finances better and change your attitude towards lenders.

charlottep88

Thank you for your reply. But I was looking for some advice not a lecture. Neither do I appreciate the assumption that I've let my finances 'spiral out of control'. They haven't. Just incase you wondered.

I'm glad yours are, however, in such a state that you feel you can pass such condescending comment to someone you don't know.

Thanks for your time though.

Treadmill

Well that was rather Judgemental, the OP is looking for advice to help pay down debt and you give her a telling off, only half reading the post as well as nowhere does the OP mention 'finances' spiralling out of control just this card. Vanquis making it hard to do BTs is a valid point, they are owned by the Provvie who's business model especially with doorstep lending seems to be to try and give the borrower Stockholm syndrome. Trying to close a Vanquis account is hard, and a BT usually precedes this so they won't make it easy.

It amazes me that the sub prime credit industry is one of the only industry's where the customer is expected to feel gratitude to the supplier lol

pompeyred

I don't agree with the follow up post given the OP was asking for advice and nor do I think that the OP deserves such a response but this is what you get on places like this and they should be ignored..... however the following is from the OP first post and is probably the only bit that Anthorn selectively read from their elevated position:

I have a Vanquis *shudder* card I've had for probably around 3 years and it
makes me sick every month I make a payment. Unfortunately, due to circumstances
the balance has spiralled out of control but I have always made my payments on
time and I'm now in a position where I need to do something about it

UsetheFORCE

charlottep88 wrote: »

Happy New Year to all!

I realise BT from Vanquis have been covered a little but just wanted an opinion on my situation.

As part of a resolution to reduce my commitments so that my husband and I can move house at the end of 2014 I checked my credit score this morning with Credit Expert (Experian). It was better than I thought, 896 rated as good.

I have a Vanquis *shudder* card I've had for probably around 3 years and it makes me sick every month I make a payment. Unfortunately, due to circumstances the balance has spiralled out of control but I have always made my payments on time and I'm now in a position where I need to do something about it. It would be fantastic if I could move the balance to a more 'mainstream' credit card provider but paying the same amount in order to bring the balance down considerably.

I realise due the Vanquis' greediness, it's not all that easy to move the balance to another but I was wondering if anyone had had experience moving to a different card and the likelihood of me being accepted. Along with my credit score of 896, I am 24, a homeowner for (3 yrs 3 mths) and earn over £25,000 a year.

Many thanks in advance for any advice, if I could get this sorted it would be an amazing weight off my shoulders.

I just last week balance transferred FROM a VANQUIS card TO a BARCLAYCARD INTIAL without a problem. Vanquis were charging 59.9% whereas Barclaycard are charging me a BT rate of 6.9% + fee of 2.9%.

Well worth it!

charlottep88

Thanks for the replies guys!

This evening have managed to get myself a Natwest CC with 0% on a balance transfers for 22 months! I can only hope that Vanquis plays ball with Natwest on this one as I will make such a dent paying what I'm paying to Vanquis but now to Natwest. Will be a good start to 2013!

Treadmill

charlottep88 wrote: »

Thanks for the replies guys!

This evening have managed to get myself a Natwest CC with 0% on a balance transfers for 22 months! I can only hope that Vanquis plays ball with Natwest on this one as I will make such a dent paying what I'm paying to Vanquis but now to Natwest. Will be a good start to 2013!

Very happy for you, you'll be able to make a big dent at 0%, it would be great if you could divide the balance by 22 and get it all paid off before the 0% is up.

SnowTiger

Treadmill wrote: »

It amazes me that the sub prime credit industry is one of the only industry's where the customer is expected to feel gratitude to the supplier lol

It happens when demand outstrips supply. Although I don't think punters are expected to be grateful.

The V A N Q U I S thread is full of happy folk gaily telling us they've been accepted by Vanquis.

Learning that JustinCredibleGillespie had a Vanquis card winging its way to him in the post made my Christmas perfect.

Experian_company_representative

charlottep88 wrote: »

Thanks for the replies guys!

This evening have managed to get myself a Natwest CC with 0% on a balance transfers for 22 months! I can only hope that Vanquis plays ball with Natwest on this one as I will make such a dent paying what I'm paying to Vanquis but now to Natwest. Will be a good start to 2013!

That's good news! Make sure you close the old card once you've moved the balance over, assuming you don't plan on using it again.

James Jones

charlottep88

Experian_company_representative wrote: »

That's good news! Make sure you close the old card once you've moved the balance over, assuming you don't plan on using it again.

James Jones

Oh I plan on closing it! Just rang Natwest (my credit card supplier) one of my small balance transfers from Barclaycard is in the process but the one from Vanquis has been refused as they can't gain bank details from them. The lady on the phone said to wait until the card came and use that. Is there another way to do this?