We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Vanquis card
Options

Oakdene
Posts: 2,560 Forumite

in Credit cards
Hi All
I have around £670 (limit of £1000) on my vanquis card at the moment, Im paying it off bit by bit but plan to make bigger payments now Ive sorted things out. However what I am wondering is if there is a suitable card out there which might offer a lower interest rate for a balance transfer but is suitable for those with a very low credit score?
Or would I be better off trying to pay it off with Vanquis?
Cheers
I have around £670 (limit of £1000) on my vanquis card at the moment, Im paying it off bit by bit but plan to make bigger payments now Ive sorted things out. However what I am wondering is if there is a suitable card out there which might offer a lower interest rate for a balance transfer but is suitable for those with a very low credit score?
Or would I be better off trying to pay it off with Vanquis?
Cheers
Dwy galon, un dyhead,
Dwy dafod ond un iaith,
Dwy raff yn cydio’n ddolen,
Dau enaid ond un taith.
Dwy dafod ond un iaith,
Dwy raff yn cydio’n ddolen,
Dau enaid ond un taith.
0
Comments
-
Hi All
I have around £670 (limit of £1000) on my vanquis card at the moment, Im paying it off bit by bit but plan to make bigger payments now Ive sorted things out. However what I am wondering is if there is a suitable card out there which might offer a lower interest rate for a balance transfer but is suitable for those with a very low credit score?
Or would I be better off trying to pay it off with Vanquis?
Cheers
In a word, No. Unfortunately your low credit 'score' will make it impossible to get a 0% card.
My advice: Cut it up, and throw as much cash at it as possible to get the balance down!:T
0 -
In a word, No. Unfortunately your low credit 'score' will make it impossible to get a 0% card
.
My advice: Cut it up, and throw as much cash at it as possible to get the balance down!:T
I really want to get my credit score up as soon as possible (within next couple of years) as I'd like to start thinking about the future, i.e. mortgage.Dwy galon, un dyhead,
Dwy dafod ond un iaith,
Dwy raff yn cydio’n ddolen,
Dau enaid ond un taith.0 -
-
"Can't you have your ***** cut off ?" "It's not as simple as that, Nigel"
:j0 -
0
-
Oops wrong threadlbm 11/06/12 dept total 11499.470
-
Reading this thread just makes me shake my head.
The best way of building up a credit rating, is to use a card such as Vanquis responsibly.
I.E. Do not run a high balance and pay off the balance in full or at least 90% of it each month.
People, cut up these cards, once they get another card, but WHY? Simply use the Vanquis card for £20 - £50 a month of purchases and pay it off in full. APR's are only relevant when balances aren't paid off in full. I'll pay the same interest on a Vanquis card each month as a premium card, if I pay it off in full each month. I.E. nothing.
Sure cut up the card, but if I was building up a credit rating, I wouldn't be doing that. If you're spending £100 - £200 a month on a credit card, then I'd be running 2 or 3 credit accounts responsibly and spreading that total amongst them, rather than 1 account, just cause the APR is lower on one card.
Too many people, think because they have a credit card, they simply must spend up to or near the limit.
Sadly too many people, also forget that companies such as Vanquis, give them a chance to build a rating up, when no one else would, but conveniently forget and slag them off when they leave.0 -
I've had a Vanquis card for 2 years, never missed a payment and generally kept the balance fairly low. I had an urgent car repair last month though, so I applied for the Fluid 0% balance transfer card this morning.
I didn't get the 24 months card, but they offered me a 0% balance transfer (1.75% transfer fee)for 16 months and 18.9apr after that, with a £2500 initial limit. My £695 Vanquis balance will be transferred over in the next few days.
Finally, i'm shot of Vanquis! They provided me with a chance to repair my rating, so i'm grateful for that. When my 16 months are up on my new card, i'll hopefully be able to get a low apr card.
Maybe you could try Fluid (MBNA) too? They do a preliminary check that doesn't affect your credit score. If it comes back positive, you can carry on with the application.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.7K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.7K Work, Benefits & Business
- 598.5K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards