Chrome card (vanquis) 5th statement increase

[Deleted User]

Because it shows to lenders that you can take credit and pay it back in full without having to drag it out.

Unless you're on a promo of course

Ben8282

Anthorn wrote: »

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?

In the context of this thread, to avoid paying extortionate amounts of interest on a high APR Vanquis card for a start.
Also with such a small balance (£250) inability to repay in full and willingness to pay high interest implies to me that the OP's financial situation must be pretty dire. Most normal people should be able to turnover £250 pm on a credit card through normal day to day spending The only impression which can be gained is that the OP is unable to repay £250. This may well make the OP attractive to the likes of Vanquis but is hardly likely to make them attractive to a mainstream lender.

T-G-C

I opened a Vanquis card (not the Chrome brand) in August 2017 and didn't receive an increase until April, but when I did, it was a massive one.

I went from £250 to £1000 in the space of one increase, but it makes up for the fact that I had to wait 8 months for it to happen.


There's no point pretending to be a good boy with Vanquis, they like the adventurous creditor, someone who edges close to their credit limit, but never actually goes over. Someone who shows real use of their card, almost daily, but doesn't abuse it by missing payments; going overlimit or DD's bouncing.


From my experience, you probably won't receive an increase on your 5th statement, so I wouldn't set your heart on it. However, everyone is different and you might have earned yourself one fair and square.


They won't put it on your statement, they'll email you a notification of increase. I received mine a few days after the statement date, so I wouldn't expect it (if it happens) "bang on" the cycle date either. You'll also have to wait 30 days after the notification if it's your first increase. They won't offer to apply it instantly nor over the phone, but I've never directly asked, as it would sound desperate.

pcoventry

greggwatson90 wrote: »

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 :-)

I was with Vanquis for 4 years went from £250 to £3000 often in 5-6 months apart. but at 59.9%
Wife got a Chrome card with initial £500 limit at 34% so I left.. I was not offered anything when I called to cancel either.

But she got an increase after month 4 and it was instant.

dazzaofdagenham

dazzaofdagenham wrote: »

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

Had my vanquis for several years but haven’t used it for the past 4 months and I phoned them up to cancel.

Got offered 12 months balance transfer with no fees whatsoever at 0%...

Would help if I had a balance to transfer though !,,,