vanquis increase

SnowTiger

thebritishbloke wrote: »

Common sense. Who wants to willingly pay 59.9%+ interest?

We're not going to have another one of these conversations.

Some people believe you can, effectively, buy a better credit rating.

This unproven myth that lenders prefer customers who carry a bit a debt has been mentioned here before.

Swhite1991_2

I've had my vanquis card since jan 2014 with £250 limit and I'm still waiting for an increase, I thought I would of heard something by now I'm on my 5th statement I've always used at least 80% of the limit and I've always paid in full a few days before it's due! I dont know what I'm doing wrong? I never plan to carry a balance on it but £250 isn't really big enough for all my monthly spends which I want to use my credit card for. I read that some people don't get a increase on 4th statement and then on the 7th statement they get increased to £750? If that is to happen I would be fine with that. I plan on stopping the increases after £1000 as I don't need more than that.

Has anyone else had there first increase on the 7th statement and how much did it go up by?

thebritishbloke

Swhite1991 wrote: »

I've had my vanquis card since jan 2014 with £250 limit and I'm still waiting for an increase, I thought I would of heard something by now I'm on my 5th statement I've always used at least 80% of the limit and I've always paid in full a few days before it's due! I dont know what I'm doing wrong? I never plan to carry a balance on it but £250 isn't really big enough for all my monthly spends which I want to use my credit card for. I read that some people don't get a increase on 4th statement and then on the 7th statement they get increased to £750? If that is to happen I would be fine with that. I plan on stopping the increases after £1000 as I don't need more than that.

Has anyone else had there first increase on the 7th statement and how much did it go up by?

You shouldn't keep using 80% of your available credit, it won't look good to potential lenders. I know that 80% of £250 is only £200, which in itself is a relatively low balance, but it won't look good to lenders.

Set up a direct debit to pay in full every month. If you always plan to pay in full, it prevents the inevitable happening where you might forget to pay one month, or you might not have internet/phone access etc.

They seem a bit hit and miss. I got my credit limited upped from £250 to £500 on my 4th, then on my 8th from £500 to £1,250. I had the card for 18 months, it never got upped again. Applied for a BarclayCard freedom rewards, got accepted with a £5k credit limit. It's all a bit odd.

amberspy

collins207 wrote: »

Hi amberspy,

Did you eventually get a letter or email before the increase? Also, please how long did it take after your fourth statement?

sorry for late reply i had builders in house so no time go online
i actually got email from them the day of 4th statement ,the increase starts this month

kpearsoncj

i have had vanquis for about 4 months feb i think just recieved a letter saying my credit will double to £1000 on july.

old limit was £500 always used between 200-300 n paid off in full each payday

Free_Spirit_31

I have a limit of £1750. Have been with them for some time.

I always pay the balance off every month, I only spend about £20.00 tops. So I will expect they will write to me soon telling me that they have to reduce my limit!

kpearsoncj

I had my increase from 500 to 1000 on my 4th statement

harry438

Maybe I should start a new thread but I have been trying to contact Vanquis for four days & they won't pick up the phone. Anyone else had this problem lately? A month ago they were brilliant & very helpful.

JamTE

I got my Vanquis card around March 2013 with a £500 limit, I also got a Capital One card with a £1500 limit at about the same time, both of these were before I'd settled most of my debts (June/July 2013). I subsequently got an Aqua card around September 2013 with a £500.


I think around November time my Vanquis limit went up to £1200-£1500 (I can't remember exactly) and Capital One to £1750.


In May 2014, without a letter my Vanquis, the limit went up to £2200 and now Aqua has just gone to £2300 or so.


I've always paid the full Vanquis balance on time and it's never been more than £500, it's also only had very light usage since March of this year (<£50 a month and frequently nothing).


For the record I have a good salary and very little debt. When my defaults and CCJs all disappear in the next 12 months, the Vanquis card will be the first to be cancelled.