Drop Vanquis or Aqua card?

eightiesneo

Good morning folks,

I've recently been trying to rebuild my credit history by using both an Aqua and a Vanquis CC every month for spending and paying off full.

I have successfully been accepted for a capital one classic card and feel that having 3 credit card's it probably 1 too many.

I would like to close either the vanquis or aqua card.

APR's don't really matter to be as I'm paying off in full each month anyway, and I've not had to phone either company so can't comment on customer service, so wondered if the kind and knowledgeable people of this forum would give me their advice and opinions on this.

Kind regards

Neo

Trapezius

APRs do matter. If you have a drastic change of circumstance, it'll matter. You can say you won't, but these drastic changes are always sudden and unexpected.

I would also keep the Aqua. For sub prime cards, Vanquis is far worse than Aqua. Vanquis are easy to get (I got mine as a student with no income) and they're awful lenders. They're unethical and rude.

annmaria2

Drop Vanquis! High APR. Slowly move away from from high APR cards.
BTW congrats on being accepted for lower APR card :T

eightiesneo

Thanks, the consensus seems to be drop the Vanquis card!
I will pay the next statement balance in full, and stop spending immediately on the card and attempt to close the account.

My goal is a tesco credit card! They may not be the cheapest but my parent's both have one each and between them they earn around £100 in tesco vouchers each year which they use for Christmas food shopping!

Thank you all.

Appreciated as always

Neo

eightiesneo

Just an after thought, I was using a combination of Vanquis and Aqua to pay for fuel on one and spending on the other as the credit limit between the 2 was £750.

My new limit with capital one is £1500, and I was going to carry on using one for fuel and the other for spending, however I've just been thinking do I really need the aqua card when the capital one limit is sufficient for both general spending and fuel.

I'm just trying to rebuild my credit history as quick as possible, should I drop the aqua card aswell or would you keep it?

Thanks

Neo

Herbalus

Keep it. You never know when an emergency might come up e.g. you lose your capital one card, or it's declined for some reason.

Put a few purchases on every month so they don't see it as dormant and close it.

rabbit_burrow

Aqua would be worth keeping if you travel as it has no exchange fee

mrtaximan

Hi would say drop Vanquis as they are the highest rate sub prime card and then when your credit gets better move to a mainstream card and drop aqua.Sub prime cards are great for building credit but get rid of them when they are no longer needed.

Mark B