Vanquis (Granite)

tenbob84

Ive had my vanquis card now for nearly two years, it was my first step to rebuilding and is therefore my oldest account on my credit file (which is now quite healthy)

I would like to keep the card and so was wondering if anyone had had any joy or know of anyone who has had any luck in getting them to reduce the APR on the card.

I have been quite a good customer to them and my limit is now up to 3000.00 and i use it quite often so am wondering if i threaten to leave they may consider my proposal of a lower APR

anyone?

liamfahy

There is no harm in asking. Just ring them up and ask if there is a better rate on offer. If they say no then ask them what is process for transferring your balance to another card and see if they react to the thought of losing you. If there is no reaction then shop around for another card with a lower rate and switch.

You-kip

tenbob84 wrote: »

Ive had my vanquis card now for nearly two years, it was my first step to rebuilding and is therefore my oldest account on my credit file (which is now quite healthy)

I would like to keep the card and so was wondering if anyone had had any joy or know of anyone who has had any luck in getting them to reduce the APR on the card.

I have been quite a good customer to them and my limit is now up to 3000.00 and i use it quite often so am wondering if i threaten to leave they may consider my proposal of a lower APR

anyone?

£3000 credit limit customer with Vanquis with 50% plus APR and you want a lower APR can't see it myself you're their ideal customer.

tenbob84

You-kip wrote: »

£3000 credit limit customer with Vanquis with 50% plus APR and you want a lower APR can't see it myself you're their ideal customer.

the thing is i dont currently have a balance on the card, i only want to keep it so that i keep a good credit rating, if i close this account and use a lower apr card, my average age of accounts will drop significantly.

i will ask them anyway, nothing to lose

SnowTiger

tenbob84 wrote: »

the thing is i dont currently have a balance on the card, i only want to keep it so that i keep a good credit rating, if i close this account and use a lower apr card, my average age of accounts will drop significantly.

Does it matter what the APR is? That information isn't show on your credit report.

If you do contact them about lowering your APR they might wonder if you're having financial problems. Although that's less likely if you're not currently carrying a balance from one month to the next.

derfo

SnowTiger wrote: »

Does it matter what the APR is? That information isn't show on your credit report.

If you do contact them about lowering your APR they might wonder if you're having financial problems. Although that's less likely if you're not currently carrying a balance from one month to the next.

Agree completely. If you do not have a balance and you are being responsible with your finances, why does it matter what the APR is.

tenbob84

because, when the time comes to make a large purchase on it i dont wish to pay 40 percent, im therefore considering getting a card that will improve apr over time, like barclaycard apparently does.

if vanquis wont drop the apr theres no point me keeping the card as i am not stupid enough to throw a big purchase on that i know i cant pay back all in one

Simon7685

I spent £320 on my granite card last month.......
The bill today reads minimum Payment £14 and some pennies.
Interest to be charged £24 and some pennies.

I pay off in full each month without fail, so all that interest is based on last months spend....... £320 spend = £24 interest.

I get exactly what you saying, I would not dare spend more than I could pay off, their rates are obscenely expensive. customers who have been with them for a long time and always paid off in full should be more trusted by lenders and they should lower their rates accordingly.

If they did I reckon they would make even more money as people who don't carry vanquis balances would be more inclined to make bigger purchases over a couple of months but 59% APR, come on even !!!!!! Turpin wan't that bad............