Please Advise On How To Keep My Credit Score - Vanquis Closing My Account, Their Error!

psdor

Can anyone please advise on what action if any I can take against Vanquis for an error they made in giving me a credit card?

I got a card from them two years ago primarily to boost my credit score, which I did. The card had a limit of £1000. I bought an item that cost £199 and paid it off. Since paying it off I have not bought anything else on my card and it has been in exceptionally good standing. I paid the balance plus extra every month, they never had to chase me for anything or add any late payment fees.

I am really p***ed off that after doing all of this and then subsequently boosting my credit score as a result of being such a good borrower, that they they will not only close my account, but remove all infor from the credit reference agaencies.

I spoke with someone today and she has said she will note my complaint and they will respond to me in 56 days with regard to what they will do.

She was unable to do anything to be honest and it sounded like she was reading froma script for this issue, as apparantly a number of people have contatced them.

Despite there being so many people affected, The Financial Ombudsman service were surprised and hadn't heard of this situation as yet. They advised I contact a solicitor!

I just dont believe that something like that is actually legal, surely there must be a way I can contatct someone to ensure my now fabulous credit is unaffected by ttheir misdemeanour.  I absolutely cannot afford to get a solicitor for this.

If anyone can advise where I go to next I'd really appreciate it.

[Deleted User]

Your fabulous credit will be made up of all the other history you have.  No need for a solicitor to protect your CRA number.

Everything is fine and legal. If you need another card, you can apply with another lender of your choice.

With your next card though, make sure you use it regularly and clear in full each month. Your credit history to date sounds a little poor.

cymruchris

There are a number of posters currently in the same predicament - I would be looking to apply for a new card from another provider whilst the positive history is in place. 

Ebe_Scrooge

In addition to the excellent advice you've already been given, here are a few thought to bear in mind when you get your next card:

"I got a card from them two years ago primarily to boost my credit score, which I did...I bought an item that cost £199 and paid it off. Since paying it off I have not bought anything else on my card."  If you're not using the card, they're not making any profit by having you as a customer, you're actually costing them money.  You need to use a card regularly, many lenders will close a card if it's unused for a long time.

"I paid the balance plus extra every month"  If you didn't use the card after your initial purchase, there wouldn't have been a balance.  And anyway, if you're regularly paying more than the balance that puts your account into credit, which is against the T&Cs.

"I am really p***ed off that after doing all of this and then subsequently boosting my credit score as a result of being such a good borrower"  As above, you're not a profitable customer for them.

As has been stated previously, there are a few stories around of Vanquis doing this.  But that aside, hopefully the above points will help you to become a "reliable but profitable" customer for your next card.

jimbo26

If it helps I can give to a credit score. You can have 1000, which is even better than the max that Experian will give you.

psdor

jimbo26 said:

If it helps I can give to a credit score. You can have 1000, which is even better than the max that Experian will give you.

Sorry not to sure what you mean?

psdor

cymruchris said:

There are a number of posters currently in the same predicament - I would be looking to apply for a new card from another provider whilst the positive history is in place. 

Good advice! Thanks

psdor

Ebe_Scrooge said:

In addition to the excellent advice you've already been given, here are a few thought to bear in mind when you get your next card:

"I got a card from them two years ago primarily to boost my credit score, which I did...I bought an item that cost £199 and paid it off. Since paying it off I have not bought anything else on my card."  If you're not using the card, they're not making any profit by having you as a customer, you're actually costing them money.  You need to use a card regularly, many lenders will close a card if it's unused for a long time.

"I paid the balance plus extra every month"  If you didn't use the card after your initial purchase, there wouldn't have been a balance.  And anyway, if you're regularly paying more than the balance that puts your account into credit, which is against the T&Cs.

"I am really p***ed off that after doing all of this and then subsequently boosting my credit score as a result of being such a good borrower"  As above, you're not a profitable customer for them.

As has been stated previously, there are a few stories around of Vanquis doing this.  But that aside, hopefully the above points will help you to become a "reliable but profitable" customer for your next card.

Good to know, thank you

bradders1983

psdor said:

jimbo26 said:

If it helps I can give to a credit score. You can have 1000, which is even better than the max that Experian will give you.

Sorry not to sure what you mean?

He is saying the score is absolutely meaningless. It could be 9999, 99999, 999999....it doesnt matter in the slightest. 

MovingForwards

psdor said:

jimbo26 said:

If it helps I can give to a credit score. You can have 1000, which is even better than the max that Experian will give you.

Sorry not to sure what you mean?

The credit score / rating is not used or used by any UK financial institution as it's the credit history they use / see for assessing applications.

psdor

MovingForwards said:

psdor said:

jimbo26 said:

If it helps I can give to a credit score. You can have 1000, which is even better than the max that Experian will give you.

Sorry not to sure what you mean?

The credit score / rating is not used or used by any UK financial institution as it's the credit history they use / see for assessing applications.

The credit history is what Vanquis are saying will be removed, so there will be no record at all of me having this card and also making my repayments and not defaulting