Vanquis bank - credit card

HaSBeenConsolidated

What is your general experience of this Credit Card?and


What do you know about the ID Protection fee they charge monthly? Is this really worth its fee? - or is it another of those Insurance things like CPP, which could be reclaimed?


and
Do you know anything about their Repayment Option Plan (ROP)? - Is this worthwhile? - and /or should I try to claim it back?

custardy

Do you even have a card with them?
seems weird to ask about things and then can they be claimed back
If you dont have the card yet then surely you can research if its worth it to you

HaSBeenConsolidated

Yes - we do have a Card with them.

worried48

The card is fine, but high interest of course because of who it's designed for. Really needs to be paid off every month, I have a 3k balance on it and am paying something like £115 a month just in interest.

I wouldn't think of touching the extras. I don't think they offer anything you haven't got already in terms of protection.

This is for your daughter, presumably?

SnowTiger

HaSBeenConsolidated wrote: »

Do you know anything about their Repayment Option Plan (ROP)? - Is this worthwhile? - and /or should I try to claim it back?

Vanquis ROP isn't PPI.

A few people here have tried to claim back payments, but I don't think anyone has been successful. Anyone?

What would be your reason for claiming payments back?

One big differences between Vanquis ROP and PPI is that everyone can take advantage of ROP. Even those who enrolled on it while they were unemployed or self employed.

BrookesAndrew

I have a card with them. I have only had it for one month and it seems to be okay at the moment. I did make a payment on the weekend though and it has been taken out of my bank and shown up on my bank statement but the amount has still not been deducted yet. I am always a bit annoyed when things like this happen with credit cards because the last thing I want is to be charged a late payment fee. Will probably leave it a few days and then see give them a ring if anything doesn't change.

The interest is very high but I am just going to use it for building my credit score up. Only doing it for six months and then I will cancel it and try and get another credit card which is better.

The online system seems to be okay. Quite easy to make card payments despite them not processing it for ages. I did ring them up once and it took them 40 minutes to answer one single question about the interest. Wasn't a good sign.

I say just use them for building up a credit score. Dont go running up a massive debt. After 6 months see what your options are and go somewhere else.

worried48

They do take a couple of days to actually credit payments to your account which is annoying.

OneLife_OneShot

I agree, takes ago to process payments.

GlamGirlie

I've had a mine 13 months now, part of repairing my credit rating post-IVA.

I use it to buy petrol then clear it each month.

I don't have any fo the extra insurance policies or anything.

I've also registered for text alerts so when my bill is generated it texts me and tells me to pay £X by XX date.

It does take 2 (?) days to register as paid but almost all cards do. And I always pay promptly anyway.

If anyone was concerned about late payment fees they should set up a DD for repayment.