been sent a vanquis card aplication form..should i be worried !?

dzug

Saintconor wrote: »

Have just received one today and it has gone straight in the bin. What Friends Provident are doing should be made illegal.

This has absolutely NOTHING to do with Friends Provident, who are a respected life and pensions company.

Provident is an entirely separate outfit.

At least slag off the right company......

snails's_pace

i got 1 of these cards through the post a few weeks back, i've still got it and use it a lot..........





.......to scrape the ice of my car

gulife

...sorry to hijack the thread.

Well, for one, I am a very happy Vanquis customer. I have a credit limit of 1k with them, and pay off in full every month, earning them no money at all. My credit has improved no doubt over the past 2 years, and my credit score has gone up 200 points... and their customer service, and weekly text updates are very up to scratch!

On the other hand, I've had nothing but problems from Natwest, Barclaycard, Halifax and Capital One. I have left all 4 companies because of problems with their customer care.

I respect people's opinions, but saying what they are doing is "illegal" (saintconor), is just a load of hot air. If you can afford to pay off the debt on a credit card in full every month, then it doesnt matter how much the interest rate is.

PROLIANT

If it wasn’t for companies like Vanquis and capital One the likes of my self and others with poor credit would never get back on the ladder to a good credit rating, I am a Capital one customer and in defence of both companies I would like give them a big pat on the back, cheers capital one and thank you for giving me the benefit of the doubt.

Happy days are here again :T

ShelfStacker_3

I have a hat trick of the big "poor credit" cards; Aqua, Vanquis and Capital One. Paid off all of them on time for 6 months, now been accepted for a major brand card with a higher limit than all of them combined.

If you have no credit history (and I didn't; all I had on my report was my current account to start with!) then Vanquis, Aqua etc are PERFECT, with one small caveat that you rarely, if ever, get charged interest. I'm being charged interest on two of them (not the Vanquis, thank god) before I pay them all off in a couple of weeks, it's only going to be a fiver each but still more than I'd pay on most other cards.

For the market segment they're aimed at, these cards (and the other subprime people such as Welcome Financial Services) can be a useful tool, both for short term credit and getting up on the ladder. As far as I'm concerned, Capital One giving someone with little experience a £100 limit is no more irresponsible than, as appears to happen frequently judging from what happens on these boards, MBNA giving someone barely able to pay off their current debts a credit limit over £10k straight off! At least the £100 would be easy-ish to pay off...

Of course, this stems from my general belief that credit, in and of itself, is not an entirely bad thing, but that's a topic for another post...