Vanquis increase so soon?

System

Why are you worried about a £250 credit limit increase?

nicetomeetyou

beany_bot wrote: »

Why are you worried about a £250 credit limit increase?

I’m not worried. I was told that managing a higher credit amount would improve my credit worthiness.

System

nicetomeetyou wrote: »

I’m not worried. I was told that managing a higher credit amount would improve my credit worthiness.

In theory yes.
But £250 - £500 wont make much difference. Still. You are on the right path.

[Deleted User]

I think some of the confusion is Vanquis' increase process. I believe it used to be auto increase.

I've had 2 increases in the last 6 months or so - but now had to fill out a questionnaire to get both.

They now text/email you saying we'll give you £x subject to affordability, click here or call us... you then go through current income, expenses etc.

It's then reviewed by a human (my figures were identical on my latest increase to my previous) and applied to your account within about 24 hours - mine changed in the middle of the day, not an overnight update, so definitely not automated.

They've requested proof for whatever reason, then requested even more info.

Hard to say whether the "we'll get back to you" is due to the income not tallying with what you entered, or the appointee issue. I guess it needs to be reviewed by their money management/vulnerable customer team or similar given the disclosure.

nicetomeetyou

Thanks Somerset, that helps very much.

I think it went to the vulnerable customer team??? the lady did tell me it can be documented that I can have my appointee named as a person who they can contact incase of difficulties, they are sending me a form to fill in to add them.

I do find it strange that its can be up to the 30th July to add the increase if they got back to you within 24hrs... That must been they are looking into my account?

[Deleted User]

It's hard to say, it could be any one of a number of teams looking into it.

Looking back at the thread, it looks like you said you get £1,160 per month (?). But you actually get £9989 per year?

That means you've declared 40% more income than you actually get.

I'd like to give the benefit of the doubt to customers etc, but I'm never involved in investigations so can't say what they'd do.

For such a large amount on a smaller income, it's concerning you got it so wrong - not from a "fraud" point of view, but from a "do they actually know their income/budget" view.

What happened to make you believe you had £1160 per month, when it's actually more like £830? Are DWP etc. 4 weekly like child benefit? That'd be approx £770 every 4 weeks.

That's a heck of a difference. I completely understand customers make mistakes, but you may want to clarify with them how & why you got to that figure. Did you get paid more one month etc?

To be honest, I personally doubt it's a fraud investigation or anything to be worried about - as I'd imagine they'd just close the account altogether if they were concerned about that. But it's certainly worth clarifying with them - not least to make sure you do keep the account in tact.

nicetomeetyou

I actually get over £1.240 a month in benefits, this is confirmed in my benefit letters.. which I sent Vanquis.... My appointee receives my benefit letters so I didn't have full benefit letters at hand to send them at the time.. I sent them a tax letter saying I get £9989 a year in benefits which was sent to me....That letter didn't include £440 a month disability living allowance I also recieve which isn't taxable. Is its bascuslly ESA and with disability premiums in the £9989 and DLA at £4400 isn't included. I'm sorry I'm not good at explaining..

[Deleted User]

OK that's not as big a difference, and if it's paid in bits and bobs I can see how it can be confusing.

I'd get on the phone to them and make sure they very clearly write down your income from each source and the total (e.g. £9989pa Benefits, £440pm DLA).

That still doesn't add up, but benefits are very confusing. Can you phone Vanquis whilst you are with your appointee, and get them to go through it with Vanquis.

If you go through security then say I give permission for X to talk about my account... then physically hand the phone over - you don't need to wait for any signed forms to be returned etc.

I think you need to get your exact overall figure, then get the appointee to clarify that with Vanquis - item by item. Get Vanquis to read it back to you to make sure it's right, then see what happens - you may well also get the increase as well as solving any other concerns along the way.

nicetomeetyou

They refused to acknowledge tax letter... I sent both DLA and ESA letter.... They acknowledged them when I posted the address of letter, which isn't my address as I have appointee and letters are sent to County Hall, social services... The Vanquis lady asked what my mental health condition was and how it affects me so I told her.. she was nice and said it will be information will be kept confidential... 10 minutes later got text saying I will hear back by the 30th July..

nicetomeetyou

I would of thought the benefit letters would be sufficient with benefits, the two letters give give a goos break down with benefit entitlements.