Vanquis gold credit card

dranzer01

It says limits can change etc on there website. Does anyone have a gold vanquis credit card? Is the limit the same/set at £3,000? (As that is what it states on the Vanquis website, that the maximum limit is £3,000?)

Looking to shop around and see which cards are competitve etc.

Thanks.

CrazyRed

dranzer01 wrote: »

It says limits can change etc on there website. Does anyone have a gold vanquis credit card? Is the limit the same/set at £3,000? (As that is what it states on the Vanquis website, that the maximum limit is £3,000?)

Looking to shop around and see which cards are competitve etc.

Thanks.

I have the Gold Vanquis card, and my limit is £3k.

I can assure you that no aspect of any Provident-issued credit could ever be considered "competitive" when compared to others - Vanquis's target market is high-risk, and the interest rates and charges reflect that. The cards are good as 'credit builder' cards, as long as you pay off the balance in full, every month, well before the statement date but don't fall into the trap I did and run a balance on the thing - the interest charges will crucify you!

There are better "starter" cards out there - Barclaycard Initial, Aqua to name but two. Both interest rates are significantly below Vanquis's.

dranzer01

Thanks for the quick response. And Vanquis only offers a maximum of £3,000?

leeroy2009

do you have any credit cards at all? cos I can assure you, you wont be geting a 3 grand limit nor a 2 grand limit on your first credit card

leeroy2009

perfect for comparing credit cards and shopping around for "competitive" deals


http://www.moneysupermarket.com/credit-cards/?source=GOO-1317AB12&p=0&mckv=sp54rVj8E|dc_pcrid_44755082883_mtype_e_kword_credit%20cards_2764ri918980&uuid=F629DD9C-EFEE-493C-88C1-81F156F1B802&Device=c&gclid=Cj0KEQiAq_SkBRC3jLvJ1IPt2eIBEiQASUZy19Jmcyn5drROQq-DB-8Eh8ewtBIlCTCYU6UdmYBf-WMaAqYu8P8HAQ

manami_mnm

dranzer01 wrote: »

It says limits can change etc on there website. Does anyone have a gold vanquis credit card? Is the limit the same/set at £3,000? (As that is what it states on the Vanquis website, that the maximum limit is £3,000?)

I have their gold credit card and the limit is £2,250. You will not get this limit once you open an account with them. You have to wait circa 12 months with good control over your account with them.

RMS2

dranzer01 wrote: »

Thanks for the quick response. And Vanquis only offers a maximum of £3,000?

What is the interest in getting a 'gold' card and the Vanquis max rate of £3k?


Metal coloured cards were once a sign of wealth, I had a platinum one in the nineties when they actually meant something.


Every Tom, !!!!!! and Harry can have one now, it means nothing. In fact, having one by Vanquis is like getting an executive cab to the dole office to sign on.


Credit limit, why do you want a large credit limit on a 35% APR card? Do you have monthly outgoings that could justify it and could you make the full repayment on it? You would be mad to borrow that sort of money at that rate and the usual Vanquis customer isn't writing a cheque out to them for that each month.


Back about 15 years ago, I used to have a card with an £8k limit on it. I mainly used it for business and some personal stuff (not a company card). I once did max it out, I bought a couple of business class flights to Australia (£4,200) and the rest was usual spending, hotel, fuel, meals etc.


But I made damn sure my expenses were in on time and my cheque was sent off.


Forget your metal cards and what the limit is. You'll know you've made it, when you phone your card company up and you don't get, press 1 for or press 2 for. You just get it answered straight away, with a good morning/afternoon Mr.Smith, what can I help you with today.

dranzer01

RMS2 wrote: »

What is the interest in getting a 'gold' card and the Vanquis max rate of £3k?


Metal coloured cards were once a sign of wealth, I had a platinum one in the nineties when they actually meant something.


Every Tom, !!!!!! and Harry can have one now, it means nothing. In fact, having one by Vanquis is like getting an executive cab to the dole office to sign on.


Credit limit, why do you want a large credit limit on a 35% APR card? Do you have monthly outgoings that could justify it and could you make the full repayment on it? You would be mad to borrow that sort of money at that rate and the usual Vanquis customer isn't writing a cheque out to them for that each month.


Back about 15 years ago, I used to have a card with an £8k limit on it. I mainly used it for business and some personal stuff (not a company card). I once did max it out, I bought a couple of business class flights to Australia (£4,200) and the rest was usual spending, hotel, fuel, meals etc.


But I made damn sure my expenses were in on time and my cheque was sent off.


Forget your metal cards and what the limit is. You'll know you've made it, when you phone your card company up and you don't get, press 1 for or press 2 for. You just get it answered straight away, with a good morning/afternoon Mr.Smith, what can I help you with today.

Thats a very interesting post. My friends have got varied vanquis and said it is a good starter as the apr drops down to approx 10%? Not too sure if that is correct.

And also, when paying off your monthly balance, for example in a period like this month where there are working days and non working days rolled into one, would you still need to pay off your balance on a 'bank holiday' such as 31st December or even 'New Years Day' 1st January? Or do credit cards not see this as 'Bank Holidays' you still need to pay by the end of the month regardless?

[Deleted User]

You need to pay by the payment date (which can move around by a few days) regardless of holidays.

zenthra

whatever card you get you need to set up a DD when you apply to pay the full amount off. then you can never get stung for interest or charges!

Herbalus

zenthra wrote: »

whatever card you get you need to set up a DD when you apply to pay the full amount off. then you can never get stung for interest or charges!

Good advice, but don't forget that it depends on having the balance available in your current account of course. Most people should have a "float" of say a few £hundred so that any unexpected expenditure, or forgetting that a bill is being taken by DD, doesn't take them into an overdraft, but of course a lot of people don't.

If you have a sufficient float then yes, a DD in full is no problem. If you skirt a little too close to the line, a DD could present an issue.