Advice please about Vanquis card

cevans454

Hi

I had a vanquis bank credit card but cut it up about 4 months ago. It had about £1400 on it. I have been paying it off religiously at £100 per month but having just looked at my statement noticed that I still owe £1233. Obviously it is a high interest card but I'm worried about trying to change it to get a better deal. I am an ex-bankrupt (6 years in September) but daren't apply to anybody else. I went on moneysavingexpert to do a "soft" credit search to see if I would be eligible for any of the other cards that offer a lower interest rate but it said I wasn't. Will this bankruptcy hound me for the rest of my days? I'm really stressed about it as I desperately want to pay my visa off. I can manage a payment of £100 a month easily. Could anyone offer any advice please? Thankyou

john1002

Currently with the bankruptcy sitting on your files(you don't mention any CCJs or defaults) you will not get a better rated credit card bar the credit builder ones and these all have interest rates that our high, maybe not as much as vanquis depending on your rate you have with this card, no it wont haunt you the rest of your lives just six years from your bankruptcy date, then it will go off your files and you will be in a better position to get a good rate on a balance transfer card.

Just keep chipping away, see if you cant put more money on the card by cutting back on other areas, even a few months at this will reduce your balance, reduce the interest charged and get you closer to paying off.

Most people who apply for these high rated cards need to be aware they are there to build your credit rating and must be paid off every month.

john