(Q) Credit Card won't allow Balance Transfers? [Tesco / Vanquis]

CreditScorer

Hi Guys
Good news, I have finally got a decent credit score after years of hurt (Very Good on all three CR Agencies):beer:

I have just been granted a Tesco CC (5.5K limit) and as it's 0% for Balance Transfers (BT) I wanna get rid on my £900 outstanding on my Vanquis CC. (current limit £1000 - due to go up to £2000 in a matter of days).

Although I haven't got my Tesco CC yet, I am able to check my online account and the £900 has left my account to go to Vanquis. It has been a few days now and nothing has been cleared in my Vanquis account.

After searching about, it appear that a few people have said that Vanquis wont allow BTs - Although these posts were a few years old

Does anyone have any experience of Vanquis not allowing BTs?

Any advice would be helpful, as i don't want anything to burst my happy bubble now I have a good credit score.

Thanks

Stuartzane

Congrats on getting your first decent credit card
One of my friends who did balance transfer from vanquis to barclaycard with no problem. Just wait for a few more days, I don't think that it would be any problem.
Good luck!:beer:

CarliJ

Good timing, ive just done a balance transfer from Vanquis to Lloyds and its gone through in 2 days :0) it will be updated it just takes them long enought to do it :0)

Beware though you will be bombarded with calls asking why you want to close your vanquis account, they wont leave me alone! :0)
C x

The_Boss

CreditScorer wrote: »

Hi Guys
Good news, I have finally got a decent credit score after years of hurt (Very Good on all three CR Agencies):beer:

.....

Any advice would be helpful, as i don't want anything to burst my happy bubble now I have a good credit score.

Sorry to burst your bubble, but having a 'decent score' from the credit reference agencies means about as much as having a chocolate kettle.

The fact Tesco accepted you is a much better and reliable indicator, although does not reflect whether you may be accepted by other lenders.

Balance transfers csn take up to 10 working days to be processed so hang in there for a bit and you should be fine.

mrtaximan

I have today requested a BT from Vanquis to my Barclaycard Platinum card.I have filled in the details online on the Barclaycard site and all seems ok.I did not expect any problems but after reading some posts I am not so sure.

rartherinv

I transferred a balance from Vanquis to Creation not long ago. The Creation operator had difficulty putting it through on the computer and had to consult someone else then came back saying they can not put it through immediately as Vanquis does not share the automated transfer system which the other lenders share. I guess they have to do some more leg work with Vanquis, however it went through within around a week.

TheGenerus1

For the most part, you can transfer from a Vanquis card to another card. The other way round is the problem.

Transfer a card balance to a Vanquis (not that anyone should ever do) is a problem as it is treated as a cash advance. When you ask a Vanquis customer rep, they will tell you that they do not allow balance transfers, meaning from another card to them.

A lot of people get confused when vanquis say they do no allow balance transfers.

hannah4101

Hi Creditscorer - I wanted to let you know this can be done!!

I gleefully closed my Vanquis account yesterday but not without a nail biting week!

I was accepted for a Barclaycard 0% balance transfer card last Monday and I think I entered in the details of the BT when I applied. On Thursday it was showing on my Barclaycard that the transfer had gone through but Vanquis was not showing this.

I called Vanquis who told me that they didn't deal with BT and that it would be rejected. After reading a few threads on here I waited it out and then yesterday I checked my Vanquis balance and it had been cleared! It's taken a good week though.

Good luck and I really hope you can do it too because I detested every payment I ever made to them. Only myself to blame

kerri_dfw

Just to add to this, I put £720 from my vanquis onto my 0% BC last week, made me very happy to have a reduction in the amount of interest I'll be charged. It just takes a few more days to go through than usual.

mrtaximan

I done a BT to Barclays Platinum with no problem.Done it all online via Barclaycard site.I cannot see why Vanquis would block a payment that clears a balance no matter where it comes from.

Mark B

Fruit_and_Nut_Case

hannah4101 wrote: »

Hi Creditscorer - I wanted to let you know this can be done!!

Creditscorer's post was made back in March. I suspect that (s)he has got the answer by now.