vanquis card

tony007_2

I have been on debt management for a while but I have missed being able to get things on credit. Recently I received a letter from a firm called vanquis offering me one of there credit cards. I applied and now I have the card and so far I have had about £90 of credit. I have been reading various things about this company online and I am horrified not many good things said about them. I thinks I will be able to pay the £90 in full when I get the statement, can I then cut the card up and will that be the end of it. I have been reading that they have an annual charge.

mije1983

Don't just cut it up as the account will still be active and if there is an annual charge you will still have to pay it. Phone them and request account closure.

Did you not get any Ts&Cs sent with the card? Surely that would mention a charge if there was one?

They may get their negative comments as they do issue cards aimed at people with poor credit and usually have high interest rates if you don't pay it off in full, but I can't comment from personal experience.

arcon5

I had a vanquis card previously and thought they was fine - though expensive.

Not sure I understand the 'I miss getting things on credit' comment though

TherealMandM

Prob the reason they get a bad rep is they give to people with bad credit, who then don't pay back and in turn slate the company when they want the money back.
I have had one for 3 years found the customer service spot on. Never had any problems.

tony007_2

Thanks fellas I feel a bit reassured now I'll give them a chance and see how they go. I might phone them and ask if there is an annual charge, If so I will most probably cancel the account.

harrys_dad

If you are on a debt management plan you are not allowed to take on extra credit. If you are already in debt why do you want credit? Go on the debt free wannabe board and see where this slippery slope leads.

Close the account now, charge or no charge.