vanquis chrome. Tips to manage it properly.

nicetomeetyou

I have signed up to ClearScore. Last month my score was 196 and this month, ie yesterday went up to 234 and I was offered a Vanquis credit card, it said I had 80% chance off getting one.

nicetomeetyou

I have another question..

I need to book a flight, if I withdraw the maximum amount out my card, £250, do I get any fees straight away or will the fees come out when the bill arrives? Are their cash withdrawal fees?

worried_jim

nicetomeetyou wrote: »

I have another question..

I need to book a flight, if I withdraw the maximum amount out my card, £250, do I get any fees straight away or will the fees come out when the bill arrives? Are their cash withdrawal fees?

It will be cheaper to just book the flight and pay by card. You will be charged for a cash withdrawal.

nicetomeetyou

How long did it take for your Vanquis credit card to arrive in the post?

Vanquis rang me and after answering some security questions they I'd been accepted with a £250. At the end of the call their was some automated message which I hung up on. I had the phone call saying I had been accepted Friday, should I have received a email or any correspondence by now?

Jjames19

Hi,

How long did it take to receive your card?

I applied today (friday). They called me and went through some questions and I was accepted and listened to the automated call. I havent had any email etc confirming anything

Thanks.

nicetomeetyou

I received my card within one week.

They increased my credit within 4 months from £250 to £500.

Ben8282

nicetomeetyou wrote: »

I want to rebuild my credit score up. This is my first credit card I've had in years. I have a limit of £250. My disposable income is £250 a month, if I make purchase on card and max it out can I pay £65 a week to pay it off, will that have a good effect on my credit score and getting a better card in the future? How long will it take to build up credit rating? Any tips on how to manage credit cards?

I don't think that you can spend your entire disposable income on the card. There will be the odd things that you need to pay cash for.
Your suggested method of making repayments is unusual and not the commonly accepted way of managing a credit card account.
Use the card for things that you spend your money on. This can be things out of your disposable income or things out of your non-disposable income such as the cost of travelling to work etc.
Do not fill the card up to the absolute maximum. Although I wouldn't be concerned with utilisation % on a card with such a low limit, I would suggest that you stop spending when you reach about £200.
Do not pay anthing until you receive a statement. When you receive the monthly statement, pay the full amount. The sooner you pay the sooner you will be able to rersume spending. After you have paid and the payment is reflected in your available credit, resume spending.
Repeat every month.
You talk about building up your credit rating. I won't get into the credit score is meaningless argument and will assume by this you mean that you want to improve your ability to be accepted for better credit products. That question is not really answerable as there are so many variables. However, by maintaining this and other credit accounts correctly you are on the right path.