Vanquis - Cowboys to be avoided!

kayester

Dabooka wrote: »

So which is it, paid off and not bothered about the APR, or usually paid off? If it's the second then your stance is a lot more understandable, otherwise who cares if they charge 1000% on a fully cleared balance? [EDIT] Just realised the change in poster there; must pay more attention!

lol yes i am a different person and not complaining at all

Im quite happy for them to put the interest at whatever as im using this card to improve my credit rating and use it sensibly

BrookesAndrew

I have had the account for one month and I haven't had any troubles. When I first recieved the card I rang them up asking them to explain a few things for me. It took them 40 minutes to explain the interest rate to me. They are quite rude and they seem to have people working there who do not know a thing.

They are very furstrating to deal with. Best thing to do with these types of card is to use them and pay the balance of in full every single month. After 6 or 12 months just close the account and move onto somebody else who is better.

Deadbeat

JuicyJesus wrote: »

It depends how it was worded. They're required to say that the next step is the FOS. But the OP hasn't posted the actual wording of the letter, so we don't know what they actually said.

Good point. It would be good to know exactly how these things are worded.

Maestro.

Vanquis are in a good position because to a lot of people starting out nowadays they're pretty much the only option. Their business is probably still going through the roof because more and more companies are tightening their belts and more and more people are turning 18. I managed to get away from mine after only 10 months and closed it a few months ago - I've gone completely prime and if I can help it I'd never go near them again, but sometimes people have genuinely no choice. The banking system is that unsure of new customers it's in a way quite similar to the property ladder.

[Deleted User]

Rudeness isn't acceptable, however i think your missing one keep point.

You need them, they don't need you (Thats how they see it). They are for people with no or poor credit, they know that they are going to have customers flowing in regardless of how they treat people because people need the credit.

Ultimately, you have two choices, leave, or stay, stop moaning and get out when you can.

As has been said, the interest rate is only going to affect people who don't pay of the bill in full every month, there the people they want to get in to make there money.

I don't even know my credit card rate, because tbh it has no bearing whatsoever on me, i pay it off every month and wont let myself get into the position where i can't (again).

Maestro.

newbieboy wrote: »

You need them, they don't need you (Thats how they see it). They are for people with no or poor credit, they know that they are going to have customers flowing in regardless of how they treat people because people need the credit.

It's actually the opposite though. They need us to keep afloat, but almost no-one actually "needs" a credit card nowadays, especially since the rise of half decent debit cards (no solo or electron crapola!)

Jcts

Vanquis are what they are - a sub prime card with higher interest rates and lower acceptance criteria /more lenient on accepting new customers. Rate hikes aren't nice, whatever card you have but seeing as you say that your balance is almost always cleared, I don't get why you are acting so outraged.

At the end of the day, you were bankrupt. Yes, 4 years ago or so but that's still a BIG thing to have on your credit file. It was decent of them to give you another chance at having credit, in my opinion. Without companies like Vanquis, many many others would not have credit full stop. They give access to credit and a chance to progress to better cards. As long as the terms of the agreement are followed and the balance paid in full, it won't cost a penny. Many people have used Vanquish and stepped over to the prime market.

There are plenty of horror stories whichever company you pick, Amex, HSBC, Barclays, etc etc. Vanquis aren't that bad in my opinion, they just are what they are.

Jcts

Also, you made a big point about the customer service being rude. While I can't comment on that, I feel some of your posts have been rather abrupt, frosty and quite rude also. Glass houses and all that....