Vanquis are closing my account

Malkytheheed

Vanquis is a sub prime lender, and they aren't satisfied with an income of £6000 a month!? Is this a joke? 

bazzyb

Shakin_Steve said:

" I only work part-time, as I have a young child. I work in a college, 20 hours per week but only 32 weeks per year, so my monthly wage is just below £6,000,"

That's some wage, £6000 a month for a 20 hour week.

I think it is quite likely that the OP has an annual salary of £6000. If they earned £112 per hour I doubt they would be referring to it as a “low income”. 

SpreadableToast

funkycredit said:

They're not allowed to remove the data from the CRA's - regardless that they own the data - as they must record accurate data, whether they want to or not as part of their adherence of the reciprocal agreement they entered into. 

So if they do you can then complain to them, the CRA's directly and the FOS as they've no legal authority to purge accurate data like that. However a solitary account with less than a years history isn't going to matter much; maybe look at getting an equivalent in the meantime like Barclaycard or NewDay (Marbles / Aqua / Fluid) etc 

They're legally obliged to report accurate data, but they're not legally obliged to report data.  Not reporting anything != inaccurate reporting.

Plenty of people who have claimed that they were irresponsibly lent money by payday lenders have had their data purged for example with the argument that if they shouldn't have been lent the money in the first place it shouldn't be reported. In fact, the FOS has told them to.  I don't see what the difference is here, other than that the OP wants it being reported.  It is, in essence, a situation where the money shouldn't have been lent, albeit by the companies own internal policies.

jimbo26

As others have suggested use an eligibility checker, and especially try your current bank as you seem to have built a good history with them. Do it now whilst Vanquis still have 10 months of positive data recorded with the CRAs

Sezziehall82

Hi 👋 I have just received the same letter!! That they will refund me all charges and interest and close my account and wipe the amount thats owed as it was there error. 

Doris_the_duck

I had the same letter and so I called Vanquis. This has happened to 2½ thousand people apparently. I too have been with them for 9 months, paid my bill off in full every month and all to build on my credit score and got the same reason.  Apparently, it's absolutely nothing that I have done and they accept that it's totally their fault but when I asked if there was any way of reconsidering the closure .... there is not. I can wait a month after it's been closed and re-apply. I declined

bris

Too many people getting cards, claiming mis sold and getting money back. The checks are getting stricter because people lie about earnings then claim fouls when they run up the debt.

MalMonroe

RubyTuesday10 said:

Hi, I've just received a letter from Vanquis credit card saying that they will be closing my account in two months. The letter says that they made an error in verifying my my income at the point of application and had they correctly verified my income, they would not have lent to me.  This just seems very odd, as I have had the account for 10 months. I pay the full amount by DD every month, and always have. 

I took out the card to improve my credit score, as I do not have much credit history due to living abroad for 12 years. I do also have a 2 year mobile contract with EE, which went through with no problems before I took out the Vanquis card.

 I only work part-time, as I have a young child. I work in a college, 20 hours per week but only 32 weeks per year, so my monthly wage is just below £6,000, but as my partner earns a good wage, this is just spending money for myself. I always have around £2,000 in my current account, so have never had any problems paying my cc. They gave me a starting credit limit of £1,000, though I've only ever used half of that amount, and that was only once at Christmas. 
When I applied for the card, it was after using a soft-check service first, where it stated I had been 'pre-accepted'. I entered all of my details, including income information correctly, and had a number of 'pre-accepted' type offers, but chose Vanquis. 

They have also stated in the letter, that they will be removing the record if my card account from the credit reference agencies. This has really upset me, as it appears that I've now wasted 10 months in trying to improve my credit score/history with these people. Has anyone had anything like this before? Is it because they deem my wages too low, even though I had to enter this information on both the original comparison, soft-check and on the actual Vanquis application page? 

Many Thanks

Have you tried to phone them and ask what they mean and what the heck is going on?
Strangely enough, I was sent a Vanquis card that I did not apply for and didn't want just a few months ago. I know I did not apply for this card as I already have a credit card which is great for me and I'm very happy with it.

I phoned them and they apologised and said they couldn't understand it - neither could I. I did worry about fraud but why would anyone have a card sent to me that they could not use? Nobody's used it, it was blocked as soon as I phoned them. I asked them to close the account but they haven't as yet so I'm writing a formal letter to tell them to get on with it. 

People responding to you on this forum seem to have just accepted that the letter you've received is genuine. But if you have been using your card responsibly for a while now, I'm suspicious that something is amiss. Particularly when I think about my own weird and mysterious dealings with Vanquis. I'd urge you to phone them. You have been a good customer and you haven't been in arrears. Don't get upset, try to find out what's going on, don't just accept facts that are in a letter which seems a bit incongruous to me.
 

MalMonroe

cymruchris said:

While you have ten months good payment history recorded - try an eligibility checker with another company such as Aqua or Capital One. If you have no other nasties recorded anywhere - you should find there's a fair chance of success. Be aware that Vanquis has more than one shopfront - so there are a few cards that have different names that come from the same source.  Aqua and Capital One are both from different owners though, so their eligibility checkers will be ok to try. 

It does seem a little odd - the only reason I can think of - is that you've applied for credit elsewhere - for example a new sofa from DFS - and you've given very different financial information that when they applied for your credit - it might have flagged up that you were applying with different data. They do say when applying for finance - always declare your income the same - could it be that you've applied for something and given another figure (for whatever reason) and they've picked up on that from the CRA shared info?

Don't you think this letter could just be some kind of fraud? Or basically wrong. People are so accepting on this forum!

bradders1983

MalMonroe said:

Shakin_Steve said:

" I only work part-time, as I have a young child. I work in a college, 20 hours per week but only 32 weeks per year, so my monthly wage is just below £6,000,"

That's some wage, £6000 a month for a 20 hour week.

Again, you with the very unhelpful, but very sarcastic, comments.

More helpful than your inaccurate comments about the Section 75 procedure in this section the other day, mind 🎣