Vanquis: I'd like an increase please!

The_Offside_Rule

Good afternoon all,

I have had my Vanquis card since January this year with a credit limit of £150. I have used this card every month and paid off in full.

I was really hoping that I'd have an increase by now and having read the guide on MSE which said that some companies consider people like me as 'bad customers' as I do not make them any profit, I was wondering how effective it would be if I spend a nominal amount such as £5 - £10 and only paid off the minimum when my next statement comes in?

Of course they'll make very little profit from that, but perhaps it would trigger something on their system and therefore give me an increase?

Thanks.

chaz301975

if you realy whant it to go up just put about 70% of your limit on and only pay min plus say 15-20% for 2-3 months and then up it will go mine went up to £750 in one leap then they messed me up with dept good luck

Nasqueron

chaz301975 wrote: »

if you realy whant it to go up just put about 70% of your limit on and only pay min plus say 15-20% for 2-3 months and then up it will go mine went up to £750 in one leap then they messed me up with dept good luck

Assuming the interest doesn't kill you

chaz301975

intrest and charges plus there payment plan and hospital messed me up

ricky_v

rdf1988 wrote: »

Good afternoon all,

I have had my Vanquis card since January this year with a credit limit of £150. I have used this card every month and paid off in full.

I was really hoping that I'd have an increase by now and having read the guide on MSE which said that some companies consider people like me as 'bad customers' as I do not make them any profit, I was wondering how effective it would be if I spend a nominal amount such as £5 - £10 and only paid off the minimum when my next statement comes in?

Of course they'll make very little profit from that, but perhaps it would trigger something on their system and therefore give me an increase?

Thanks.

Try asking them for a limit increase. Paying interest simply to increase a credit card limit isn't worth it IMO.

SuperHan

I always pay in full, and have been offered a number of increases and always had them approved in full when requested, so I'm not sure your method will work.

Given you haven't even had the card a year, it's probably waiting until at least January before worrying.

manami_mnm

I had Vanquis credit card with a starting limit of £250. I was utilizing it by anywhere from 20% to 90% and paying the balance in full after issuing the statement, so no interest to be paid. Today's limit is £2250.

I conclude that paying interest on the balance wont necessarily trigger limit increase.

john1002

I agree as well have had my card 3 years plus now and every 4 months got an increase till 3000 max and then a few months back to 3500 and in all this time have never paid any interest, I have though used the card regularly and used my available limit. With Vanquis and other credit providers there are so many factors they use including your credit file via monthly feeds that no one has a true idea as to what works. Keep going and you will get one eventually.

John

Simon7685

NO NO NO

My advice just continue to pay in FULL each month the APR's on Vanquis are too high to mess with. You would be better off using about 70 to 80% of your limit each month but repay in FULL.

Your increase will eventually come. Please don't start on the slippery slope of paying Vanquis interest, just to get them to increase your credit limit. It takes time to build up a good credit rating, just be patient.

It took me 3 years plus to get mainstream cards and I repay in full every month and never pay interest.

thebritishbloke

When I had my Vanquis card I paid in full every month and it automatically got bumped 3 times over 18 months to £1,250. I then applied for a BarclayCard and got approved with a £5,000 limit. Swings and roundabouts.

The_Offside_Rule

Thanks to every single one of you that have taken the time to reply. It seems that the general consensus from you all is to carry on with what I am doing.

I just like progress and I've been working so hard at sorting my credit file out and it would be nice to start seeing it pay off!

Thanks again to you all.