can you beat it?

jodrellcat

Just received an invitation to take out a Vanquis visa card. When I first read it thought it was a joke but it seems real. Issued by the Vanquis Bank Ltd with a Bradford address it offers the staggering 32.9% to 59.9% interest rates with a £250 credit limit. All for a £19 a year annual fee. And if you pay up on time and stay within credit limit it will "cut your interest rate again and again".

Wow - it makes door to door loan sharks sound like sweeties.

grumbler

'Great Champagne 'highest Apr' Credit Card Hunt! ' thread...

Fatboy_NSS

Remember that APR includes the annual fee which is what makes the APR so high. If you don't want it then fine but cards like Vanquis are useful to a great deal of members on this site. Just because you can do better doesn't mean they should be dismissed due to high APR.

boogiemaster

Vanquis credit card is owned by Provident personal credit, so they are loan sharks lol.
They do door step lending, and make massive profits in the process.
If you do not pay pack the £250 pounds? You will pay interest at 59%, so a £250 loan at 59% would be £147.50 interest, if my maths is good? And they are not.
Did the sums on calculator.

Don’t take out a Vanquis card unless your desperate, or you like to pay interest at 59% .
Go for a Capital one card, that’s only 29%

Also Vanquis is not a credit card as such, it’s a loan and that’s why its 59%.
Vanquis put money into your credit card and its loan money.

It’s not useful to members that get into debt!!!!! Because you will pay a massive amount of interest.

sicker

I got one of these to-day. I wrote 'rubbish' on one part of there literature and sent it back in the reply paid envelope. Tore up the rest.