Vanquis

[Deleted User]

I was in the position where I was stupid and built up defaults, and 2 CCJs. I’ve been working hard, paying off what I can. One CCJ is satisfied and the other isn’t. 

I was accepted for a vanquis card recently, however family have said they are bad to deal with, maybe that’s just their experience I don’t know. 

Should I cancel the card or go ahead and use it? 

Just wanted a chance to build up my credit history again. 

Fighter1986

Vanquis are a nightmare to deal with but you have the card now.

Don't take out any add ons with the card they may try to sell you, don't be tempted to pay less than the full balance each month, never use the card for cash withdrawals or money transfers.

Just set up a direct debit to take the full statement balance automatically each month and use the card for one small grocery shop each month. 

Once you've settled all your old bad debt and had the card for a year or so you'll be in a good position to ditch and switch for something better, but for now it's going to be an asset to rebuilding your credit history. 

Although, not as much of an asset as getting all your old bad debts / defaults / CCJs settled. 

[Deleted User]

Thanks that helps a lot. 

I still have some debt to pay but I’m over half way there now. 

Fighter1986

Keep it going Mark, you're almost at the home stretch... 😉

[Deleted User]

Thanks I appreciate it. 

Dandytf

Ive found their CS excellent when required with an offer or two when I've called to ask,

MovingForwards

Just use it and pay off in full when the statement comes out, allows you to build up positive credit history while waiting for the negative history to drop off.

Well done in getting to this stage.

Dakta

I had a Vanquis card before my current one, I did at one point go through a period where I struggled to meet some of the repayments but when I spoke to them they did propose a positive solution and we did make it work.
I remember being quite surprised at the time.

northwalesd

I've never had an issue with Vanquis, CS always helpful and polite - not that I've had to contact them that often. No worse, in my experience, than any other provider to deal with.

cymruchris

Vanquis was my first credit card post-bankruptcy. They've always been good if I've needed to contact them, and have never had an issue with their service. Credit limit is reasonable now as well. If you are going down the track of getting a credit card - no matter who it comes from - set up your direct debit to pay it in full each and every month, and only spend what you'd usually spend, ensuring there's plenty in the current account to cover it.Repeat that over a year, and you'll then likely be in a position to either get a credit limit increase, or an approval on a card from another bank. 

ceremony

People hate Vanquis because they're a sub-prime card with really high interest rates. Their business is making money from people who are probably not going to pay off the card in full and who will end up paying off a fortune over several months (or even a year or more).
If you don't play that game and just clear the card in full every month you'll be fine. Just remember you're doing this to build a history, not actually borrow money.
I'm doing that with Aqua and Capital One at the moment, and whichever gives me the best limit increases I'll keep long term.