Vanquis gold card

JanChris

My husbands bankruptcy ended September 2016.
I had a DRO which ended the year before.

I have recently applied for and received a Vanquis Chrome Credit card on which we are going to put the shopping once a month and pay it off in full when the statement comes to move our credit scores up.

We decided to get a different card for him and do the same.
He applied and was accepted (Vanquis Bank again) for an Aquis Card.

It should've taken 10 days to arrive but in just 4 days he received a GOLD CARD from Vanquis with a 2.4% interest rate instead of around 29% which we had been expecting.

He doesn't want to use it in case its a scam or somtheing is wrong. He is away a lot so can't ring them and obviously they wont speak to me so was just wondering if anyone can throw some light on this for me.

If I look on the VANQUIS site at their cards there is no mention of a GOLD card.
It doesn't say Vanquis on the front... just in tiny letters at the bottom on the back.

Should we beware and wait for the Aquis Card?

Stevie_Palimo

If it has details listed on it and came from them with the letter as per the correct Company name then I am not sure what type of scam can happen here to be honest.

If you are both unsure then tell your husband to ring them when he can and ask if it correct what was sent in the post.

[Deleted User]

It won't be a scam. Perhaps an error, at worst.

Why can't he ring them? If there are no phones where he is, does he have access to emails?

dazzaofdagenham

Vanquis do a gold card, I have one

In fact they just upped my credit limit to 4000 pounds !!!

How crazy is that

Timbosaurus

You should probably make sure that's not the monthly rate. Vanquis have a nasty habit of 'upgrading' people to Gold and sneaking in a rate bump at the same time. They're hoping people won't notice because they send you something shiny at the same time. Beware.

JanChris

To be honest we aren't bothered about the interest rate as we will never borrow on it .. just buy something and pay back in full... purely to make the credit score rise.

I told him TBH it was BWTTER than the Aquis card but he is a bit worried. He is nearly 80 and works all hours god sends and is not computer savvy!:rotfl:

JanChris

I just rung them and the man seemed baffled as he said you usually get sent a GOLD card when you have been a good customer for a period of time. He has just applied for an Aquis card and hasn't even started using it yet!

Must be a mistake. Will have to get him to ring.

thanks for your help everyone. x

System

Usually with credit card applications they reserve the right to provide you alternate (more suitable) product.

Aquis, Chrome and Gold are just branding for the same bank and therefore nothing to worry about - make yourself aware of the APR (which won't be 2.4%) and other fees.

[Deleted User]

2.4% is often Vanquis' monthly charge. There is no way they are offering borrowing at 2.4% APR overall, as stated above.

2.4% monthly is another way of saying 32.92% APR - which is more along Vanquis' lines

If you read the Credit Agreement, the APR will be hidden away in there somewhere, even if it isn't on the letter (although I'm sure it should be!?!?)

Ben8282

I think you are making a fuss about nothing. You have received a new card at (for Vanquis) a good APR. Hopefully the credit limit is also decent. Why not just be happy that you have got the thing, get on with using and repaying and stop worrying about what colour it is?

Anthorn

Vanquis do send out a Gold card as a reward for being a good customer and attaining a higher credit limit above £1750 but the only difference is the colour of the card and a freefone number to contact Vanquis. Everything else including the APR stays the same as before.