Vanquis - Cowboys to be avoided!

thecleverbit

Ok, a bit of background. Back in August 2009 I went bankrupt after a series of events over a few years. It began with supporting my parents when my Dad got seriously ill, relocating for a higher level job and then losing my job and being unable to get another.

It was the best option at the time. Not the only option, but fitted what I had to do. I went and worked abroad for 6 months while the dust settled.

After getting home, I started to put my affairs in order. I managed, with some effort to get a Vanquis Credit Card in June 2011 with the not too terrible rate of 39.9%. The account was kept in good order and regularly cleared & paid off. The card promised regular credit increases and competitive rates if used carefully. I ALWAYS request zero marketing contact from any firm I use, and ask for NO SMS contact for any reason.

I got a letter in September 2012 stating my interest rate was now 49.9%. I have since used the card very little as this is just a joke.

I then started getting text messages informing me of my balance, trying to entice me to spend. This is despite asking for no SMS contact.

I called them, and they were really unhelpful and argued with me, telling me it was "their right" to contact me if they wanted to and they wouldn't remove my number. The call centre person was actually laughing at me at one point. Not good. They refused to let me make a complaint, would not escalate the call and told me "there is no problem so you cant complain".

I then called to make a complaint to the head office, who eventually put me in contact with Tracey Holdom, Customer Service Team Leader.

I asked her to investigate the following:

1. Mistakes in my address, SMS contact and how the staff spoke to me.

2. My account having a block placed on it for no good reason after speaking to a call centre agent and trying to make a complaint.

3. Unreasonable interest rate rises.

She came back to me today with a very rude letter, not apologetic.

They have now announced that they want to raise my interest rate to 59.9%. What a bunch of clowns. I certainly wont be using the card every again.

They have ignored all the areas of complaint I have made and have DEMANDED that I respond to the letter, accepting their findings or go to the financial services ombusdman.

Well, can you guess what I will be doing.

I would recommend that anyone who has had any financial difficulty considers whether they actually need to deal with Vanquis. They are owned by Provident, a doorstep lending firm, one step away from loan sharks. They charge extortionate rates of interest, have terrible customer service and break their promises.

Beware. Think. Do you **REALLY** need a credit card?

My card is and has been at a zero balance for months, and when I finish typing this, I am calling the ombudsman.

kayester

I only got a card with a limit of £500 from vanquis 2 days ago.

i am looking to use this to up my credit rating. i cant get credit elsewhere so using as emergancies and paying off in full every month

_Andy_

I hardly think sending you texts with your balance is 'enticing you to spend' - that's ridiculous.

In terms of the interest rate, they're quite entitled to raise it when they want - it's a variable rate.

thecleverbit

_Andy_ I do understand the concept of a variable rate, I think you misunderstand my point. Do you think it is reasonable to virtually DOUBLE the interest rate on a well managed account over a 3 year period?

As for the SMS. I had SPECIFICALLY asked them to not send me these on no less than 3 calls. I had been told alternately that it had "been stopped", "could not be stopped" or "nothing they could do". When I escalated that they insisted I had been taken off the list.

Its my phone and my choice. Thanks for making two very pointless points about the issues I have raised.

custardy

thecleverbit wrote: »

_Andy_ I do understand the concept of a variable rate, I think you misunderstand my point. Do you think it is reasonable to virtually DOUBLE the interest rate on a well managed account over a 3 year period?

As for the SMS. I had SPECIFICALLY asked them to not send me these on no less than 3 calls. I had been told alternately that it had "been stopped", "could not be stopped" or "nothing they could do". When I escalated that they insisted I had been taken off the list.

Its my phone and my choice. Thanks for making two very pointless points about the issues I have raised.

Why didnt you change it online?

thecleverbit

kayester wrote: »

I only got a card with a limit of £500 from vanquis 2 days ago.

i am looking to use this to up my credit rating. i cant get credit elsewhere so using as emergancies and paying off in full every month

Kayester, just be careful, if you do not pay if off and they start to hike the rate, you might be racking up lots of interest. Most borrowing seems to start off with good intentions...

SarahHall2008

I have this card through ARGOS and constantly get text messages and calls i too have found them rude.

thecleverbit

custardy wrote: »

Why didnt you change it online?

Custardy, I had tried to! Each and every time I had asked them to stop with the SMS it was reinstated.

custardy

thecleverbit wrote: »

Custardy, I had tried to! Each and every time I had asked them to stop with the SMS it was reinstated.

I would have just changed the number(If you can?)

_Andy_

"Do you think it is reasonable to virtually DOUBLE the interest rate on a well managed account over a 3 year period?"

Doesn't matter what I or you think. The lender doesn't need to justify it, nor does any service or product provider.

thecleverbit

custardy wrote: »

I would have just changed the number(If you can?)

Who knows, that might be what I did in the end. That would be dishonest though... :-)