Vanquis Bank Credit Card

Clara_Oswald

Hi,

I received an advertisement letter from Vanquis Bank this morning informing me that I've been "pre-selected to apply for the Vanquis Bank Visa Card". I've been considering applying for a credit card for a while, and the Vanquis card appears to be a good way to build up my credit rating (the APR is 39.9% but I intend to use it for small purchases / paying bills through the month and paying the balance in full when my statement arrives so the interest doesn't affect me at all).

However, when I Googled Vanquis to see what their customer service was like (in case my card gets lost/stolen, there's a questionable transaction etc) I found out that to activate the card, I'd need to ring them, and they would also ring me to confirm direct debit details as part of the application process (Is it mandatory to set up a direct debit? I hate D/Ds; much prefer SOs) which will be difficult because I'm deaf and I can't use the phone. Does anyone know if Vanquis will accept communication via email, or can recommend a credit card that's good for building/repairing credit history?

Also, by sending me the pre-selection letter, does this mean Vanquis are aware of my credit history and the lines of credit I already have (mobile phone contract and catalogue; I have a balance on the latter but it should be paid off by August, however the pre-selection ends 31st July) therefore making it likelier they'll approve my application?

Sorry for the questions -- this will be my first credit card, so I just want to make sure I don't make any costly mistakes that will dent my credit rating! Thank you in advance

lulu_92

Just reminds me of Friends

Joey: I had a Visa card come through and I was "pre approved". I've never been pre approved for anything in my life!

Anthorn

Being pre-selected doesn't mean you've been pre-approved. You've been pre-selected to apply, another way of saying you're part of the bulk mailing and they will not be aware of your credit history.

The application procedure starts with your application whereupon they search your credit file. Then they ring you and offer you a loan direct to your bank account and also offer you their equivalent of PPI called "Repayment Option Plan". Refusing either or both of those won't affect your application. Then within 10 days you get your card and your credit limit, likely £250 but not certain.

If you have not made any applications and therefore have no credit searches in the last 6 months I would suggest first applying for the Aqua Advance card where the APR will reduce by 5% a year for three years (counting the first year that's 4 years). Then if you're not accepted for Aqua you could apply for the Vanquis immediately.

eskbanker

Clara_Oswald wrote: »

However, when I Googled Vanquis to see what their customer service was like (in case my card gets lost/stolen, there's a questionable transaction etc) I found out that to activate the card, I'd need to ring them, and they would also ring me to confirm direct debit details as part of the application process (Is it mandatory to set up a direct debit? I hate D/Ds; much prefer SOs) which will be difficult because I'm deaf and I can't use the phone. Does anyone know if Vanquis will accept communication via email, or can recommend a credit card that's good for building/repairing credit history?

Their FAQ at http://www.vanquis.co.uk/faq includes:

If I have a disability or medical condition that affects my ability to run the account, what can Vanquis Bank do to help me?
Vanquis Bank can offer a number of reasonable adjustments, please contact Customer Service on 0871 770 5555 who will be happy to discuss what options are available to meet your individual needs.

Obviously if your issue is using the phone then in itself this won't help but is hopefully indicative that they recognise the need to be flexible in how they deal with people, so try contacting them via the web form at http://www.vanquis.co.uk/contact-us to see what they can do for you.

Clara_Oswald

Anthorn wrote: »

Being pre-selected doesn't mean you've been pre-approved. You've been pre-selected to apply, another way of saying you're part of the bulk mailing and they will not be aware of your credit history.

The application procedure starts with your application whereupon they search your credit file. Then they ring you and offer you a loan direct to your bank account and also offer you their equivalent of PPI called "Repayment Option Plan". Refusing either or both of those won't affect your application. Then within 10 days you get your card and your credit limit, likely £250 but not certain.

If you have not made any applications and therefore have no credit searches in the last 6 months I would suggest first applying for the Aqua Advance card where the APR will reduce by 5% a year for three years (counting the first year that's 4 years). Then if you're not accepted for Aqua you could apply for the Vanquis immediately.

Thank you for clarifying! The only problem would be, if they do ring me then obviously I can't communicate on the phone as I'm deaf -- if I ignore the call(s), will it affect my application? Or will they email/write to me instead? I've Googled the Aqua Advance card quickly and it seems they won't increase the credit limit over time (I don't plan to use it, but it would be reassuring to know that if there was an emergency I had access to money). Also, the APR wouldn't affect me anyway, as I'd be paying off the statement in full every month so wouldn't be paying interest.

SnowTiger

"Preselected to apply" means they've obtained a mailing list with your details on it. Vanquis won't have had access to your credit history.

IMO, Vanquis Customer Service isn't bad. I've had a few queries, a blocked card and blocked access to my account via Internet, which were sorted out quickly.

Perhaps you should put your queries to them here: http://www.vanquis.co.uk/contact-us. If you don't get a response, I guess that answer them!

Anthorn

Clara_Oswald wrote: »

Thank you for clarifying! The only problem would be, if they do ring me then obviously I can't communicate on the phone as I'm deaf -- if I ignore the call(s), will it affect my application? Or will they email/write to me instead? I've Googled the Aqua Advance card quickly and it seems they won't increase the credit limit over time (I don't plan to use it, but it would be reassuring to know that if there was an emergency I had access to money). Also, the APR wouldn't affect me anyway, as I'd be paying off the statement in full every month so wouldn't be paying interest.

I don't know if it still does but when I applied the phone call was a pre-requisite. I'd say include a note saying you are deaf. I should think they will be able to communicate by text phone or some other method.

Aqua does increase the credit limit. Take a look at my signature.

Fruit_and_Nut_Case

Clara_Oswald wrote: »

...I hate D/Ds; much prefer SOs...

Careful! The statement date may vary slightly from month to month, and the amount owed will certainly vary. A Standing Order just won't do the job.

Clara_Oswald

I've already sent a message through the "contact us" link -- forgot to mention that in the original post -- but I wanted to check here too. I used to have a NatWest Select account that gave me mobile phone insurance and they assured me that I wouldn't need to call if I had a problem; the people in branch would ring for me and sort them out. A few months later, my phone was stolen and I needed to claim for a replacement. The insurance dept refused to speak to the branch manager and then when they attempted to fax my written authorisation, the insurance dept "never received" three faxes. In the end, I had to replace the phone myself, at a cost of £400.

Needless to say, I'm cynical these days when it comes to companies assuring me they won't need me to phone them.

And Anthorn, a textphone requires a landline -- which we don't have. Also, I did say I only took a quick look -- will have to investigate Aqua further if the reply from Vanquis doesn't work out.

InFi[D]eL

Perhaps I can be of help here.

I won't reiterate what pre selected means as that's been covered.

If you choose to proceed they will ask you set up a direct debit. My advice is that you do so. If you're set up for online banking, which lets face it most of us are these days simply log into your account and kill the Direct Debit authorization there.

I'm with the OP fully, I despise DD's. they are just an excuse for banks and lenders to collect on fee's when they fail.

I would advise once you have killed the DD in your online banking system that you do immediately manually pay your balance for Vanquis and inform them via the telephone that a DD will no longer be possible and you will be paying the balance manually.

You are under no obligation to pay by or use a DD but surprisingly refusing to create one initially during the telephone application is apparently enough to stop the application in it's tracks and get you declined. A very strange thing to be sure but a friend of mine followed that path in March of this year (2014) and the operator refused to process his application because he wouldn't set up a Direct Debit. Odd right?

HOWEVER there is one VITAL thing to be aware of.

In the card summary info it clearly states there is no default annual fee.

http://www.vanquis.co.uk/summary

This is NOT the information you are shown in your online control panel and behind the closed doors of your CP they proudly boast a £25 "annual fee" which applies to "some accounts" but conveniently fails to specify on a case by case basis and there have been reports that people have been asked to pay it when they where led to believe there where no fee's of this nature.

I will be looking into this mystery charge aggresivly but caution most defiantly to be urged on this point.

-Kane