Chrome card (vanquis) 5th statement increase

greggwatson90

Hi all

I have a poor credit score and I'm slowly re-building my score up, So I decided to get a Vanquis card in January 2018 making tomorrow my 5th statement and was just wondering how soon will I be known to get an increase? I'm not bothered about the money its the simple fact of having a credit increase reported back to my credit file.

I have never used less then 50% of my £500 credit limit increase, always pay well over the min amount, as I get paid weekly i always pay whatever I can via the mobile app as well as having a direct debit set up. i have never missed a payment, been anywhere near the credit limit, and always paid wel over the minimum payment..

Also when I first got the card I made a big purchase of £250 then paid it off slowly, making sure the balance was going down good, it started with a balance of £300 and its now £170 just before my 5th statement :-)

A4445

I’ve had a vanquis Card in the past. The limit never moved from £500.I always paid on time and full balance. I gave up and closed it and moved on to better cards.

betweenarockandhardplace

I've had a Vanquis card for over 3 years never had an increase stayed at £250, tried multiple ways to "trigger" increase, going close to limit, using less than 50% credit, paying in full, paying the min and it's never changed, my barclaycard has had multiple increases and I got that card at the same time as the Vanquis, if it wasn't my oldest credit card account I would close it, don't use it much now

[Deleted User]

You’re not working to improve your score. You’re working to improve your credit history.

Ignore any scores or ratings.

Use the card each month for normal purchases and pay the full amount back after each statement.

[Deleted User]

I've had Vanquis Chrome a year. £1k to start, £1k today

I've queried the increase, as I'm sure it said 5th statement when I took it out. They say now they review "regularly". When I asked in January they told me my next review was February's statement date. When I asked in April they told me May....

"We can't see why, but it just says you're not eligible at the moment, but I can see this account has been run perfectly, so system will regularly re-asses and hopefully you'll have an increase soon".

I assume it's the debt I have elsewhere TBH. Not fussed as a 4k limit on Cap1, but it'd be nice to know they trusted me!

Also - read Provident's annual accounts. Accounts clearly state they operate a "low and grow" credit limit policy, and and won't increases to maxed out cards (responsible lending) or cards which are unused (as they aren't needed and aren't showing proof of payment).

Limits given to accounts at 60/70% of utilisation as a ideal model - but obviously there will be exceptions to this - spend £300/500 every month and they don't like how you're managing your accounts/debt elsewhere you may never get increase. Spend £499/£500 and you may end up with one if you've no debt elsewhere and they think actually it's a good chance to make a few £££ from you.......

Just keep doing what you're doing - pay back in full etc. If you get an increase great. If you don't, you're still improving the history and you'll be eligible for something else in time.

dazzaofdagenham

I!!!8217;ve had a regular vanquis card for several years.

My limit now is 4K.....think it would scare the hell outta me to go anywhere near that limit

ywlgy

I don't have a chrome card so cannot comment on it. But OP if you want to repair your history and also want a higher limit, you could try aqua card. They increase limit every 4 months if you handle your card well. And the increase is very generous. Mine from 250 to 1000 now to 2300. Just make sure to pay it off every month

jimbo26

My wife has the Chrome Card. Last year she started with a £1000 limit, upped to £2k fifth month, and just upped to £3K.

Vanquis seem to get some stick but we've been happy with them, a 24.9% rate, not bad as she has limited history. The app is good as is the online facility.

[Deleted User]

The impression I seem to get is that Vanquis increase the limit on Chrome if it's your only/main source of debt. E.g. if you take on loads of cards/debt elsewhere (as I have), no chance.

Jimbo, I'm assuming your wife has limited borrowing on other cards? That's a great increase though. 3k at 24.9% is pretty decent for sub-prime!

jimbo26

At the time of taking out the Chrome card she had no other cards, and only a phone contract, bank account with OD facility on her history.

She later took out a 4 month 0% interest Aqua card (limit £1200). She bought some furniture with this card and it was paid off in 4 months and then closed (crazy APR), it served a purpose at the time

When she got the first increase 1k to 2k, the Aqua card was live and showing a a balance of probably £750

Anthorn

!!! wrote: »

You’re not working to improve your score. You’re working to improve your credit history.

Ignore any scores or ratings.

Use the card each month for normal purchases and pay the full amount back after each statement.

Why pay the full balance every month? Does that have a positive effect on the credit history? If the latter where do I look on my credit history to see that positive effect?