Vanquis ...closure or keep open for refund

dazzaofdagenham

I have had a vanquis card since 2012 and currently stands at a 4K limit....it’s had minimal use over the last 6 months, and to be honest I want rid of it...

The only reason I’ve kept it open is I’m waiting for the refund on the repayment option plan which I believe they are processing.....I’ve asked them a couple of times when I will be due my payment, but I get no firm date from them.

And I suppose really when my refund is due they will pay it onto the card and I’ll be forced to use the card to get the money......if I close the account will they be forced to send me a cheque payment instead.

Any thoughts please

[Deleted User]

I would keep the card anyway as it adds to the stability of your aged accounts

PRAISETHESUN

Keep the card open - as stated having a longer lived account looks good to lenders as you seem more stable.

When the refund is processed, you should then be able to request with your credit card company that the credit balance is transferred to your bank account, rather than being forced to spend it to reduce it

dazzaofdagenham

Even if I keep the account open and not use it....no benefit in terms of points or bonus...will it show as being not used on credit file and therefore a possible negative effect ?

[Deleted User]

No

Just as carrying a zero balance and will also lower your utilisation.

Keep it as a backup

Nicola83

I have a vanquis card with a £6000 limit and a zero balance, they just sent me a cheque in the post, I didn't even talk to anyone at vanquis about it, or ask for it to be paid that way, they just did it.