Vanquis Bank Credit Limit Increase

Anthorn

tnel15 wrote: »

Ok before you all say, yes I know they're very high interest, but it's all I'm eligible for currently and I want to start rebuilding my credit rating.

So, my card came today and has a limit of £150. The plan is to use the card for one off purchases each month, stay well within my limit and pay off the balance IN FULL each month.

The welcome pack came with a calendar over a period of around 24 months. Each month it tells you what you're eligible for and what's going on with your account.
Month 5 says you may get a credit limit increase obviously as long as you've not missed payments and you've not gone over your credit limit.

But, if I'm paying my balance in full each month, will this increase come sooner? With an old aqua card I had I got an increase after 3 months maybe because I cleared my balance in full the second month. Then again with aqua 2 months later I cleared my balance and they seemed to increase my limit again.

As I remember Vanquis, they don't give two hoots whether you leave a balance or pay off in full every month. What matters is that you use your credit limit but don't go over limit.


Aqua though is different and they will want you to have their babies if you pay some interest but don't go overboard.


I found Vanquis hard to work out: I got limit increases very fast up to £1,750 and the Gold Card but then it stuck there for nearly a year. Then I stopped using it preferring Aqua and then Vanquis upped my limit to £2,250 based on nil useage for 6 months. Even now that Vanquis has bit the dust I still wonder about it.

tzkiki32

Hi I also got an email in July saying that my limit will go up on the 20th of August from 150 to 550£ and I'm happy about it.