Balance Transfer from Vanquis CC

AmiLouise

Hi All,

Looking for some advise please. I've been discharged from bankruptcy for 5, nearly 6 years now. I have been using a Vanquis CC for the past 6 months (only credit card accepted for) and have paid off the full amount each month - they've now given me the max limit of 1000. My balance at present is 300 and to help improve my credit rating, I would really like to transfer this amount to a 0% balance transfer card, I'm looking at the Barclays Platinum Card. Does anyone know if this is possible with Vanquis (balance transfer)? I don't want to apply to the Barclay card, be declined and then my credit rating be affected?

Thanks
Amy

Trajal

Hi Amy,

As far as I'm aware, it's irrelevant as to which card you transfer in from. The only requirement is that it is part of the VISA or Mastercard network.

However, one point I will make is that Vanquis isn't a max limit of £1000. I got a letter just today telling me they had increased my limit to £1500, not that I use the card for anything other than paying for shopping every month!

Good luck

SnowTiger

AmiLouise wrote: »

Looking for some advise please. I've been discharged from bankruptcy for 5, nearly 6 years now. I have been using a Vanquis CC for the past 6 months (only credit card accepted for) and have paid off the full amount each month - they've now given me the max limit of 1000. My balance at present is 300 and to help improve my credit rating, I would really like to transfer this amount to a 0% balance transfer card, I'm looking at the Barclays Platinum Card. Does anyone know if this is possible with Vanquis (balance transfer)? I don't want to apply to the Barclay card, be declined and then my credit rating be affected?

Why the fuss about your credit rating?

Do balance transfers improve it? Does carrying a balance on a credit card improve it? It's difficult to pin down what a credit rating is anyway.

That aside, others have had issues transferring balances away from Vanquis. Some have managed it, others haven't.

But for £300, is it worth it? If you make the most of the seven weeks, or so, interest free period you get with a new card, you may be able to put £300 a side anyway.

lindsaygalaxy

Mine is at 1700. It went from 500, to 100, to 1750 over a year. I am a discharged BR (nearly 5 years).However, I still cannot get a basic banj account at some banks

Maestro.

Be careful.

I applied for a Bank of Scotland card last year to transfer the balance away from my vanquis card, and they (bank of scotland) said they couldn't do it. Apparently vanquis wouldn't allow it to happen.

If you are going to attempt to apply for a card to transfer a balance away, ask them first if they accept transfers from Vanquis.

TheGenerus1

My Vanquis limit is now £3000 which I think is the max they offer.

I did a balance transfer from Vanquis to my new Creation card (Sygma bank) without any problems.

Not to sure what the deal is with Maestro having a problem with Vanquis Bank accepting a balance transfer from Bank of Scotland.

Maestro.

it was the other way round. I wanted to get the money off the Vanquis card, which is what I understand the OP wants to do. The clerk on the phone at BoS informed me that Vanquis can be "picky" about who they let you transfer money to. OP might be better advised getting a card which also allows money transfers, credit rating depending...

AmiLouise

Thanks all very much for you advise x