Vanquis card have offered a limit increase(via Email),is it an instant decision?(after income/bills)

Danny_G

Hiya folks, I recently asked a question regarding paying of my Vanquis credit card payment off in full, which has been paid off every month for over a year at slightly over the minimum payment. I can pay that off in full now, (which I asked on another question)

I also asked that question to my friend who is also a vanquis card users, and they have had an email from vanquis regarding a CC limit increase which has been offered to them via the email.

Here in bold are the offer email elements.




Don't miss out on your credit limit increase to £xxxxx

We'd like to offer you a credit limit increase but we need some important information from you

(which will be income and expenditure, rent, bills etc paid a month. which is what they use for their assessment)



He has some questions,

When they take these details into account,(their income, bills, rent, etc) and this online application/link is submitted then is it an instant decision?

If they live a a property which has no mortgage/ bought outright, then rent/mortgage will be £0 correct?

Do they have to send proof of income in scanned/posted format? or they don't need that?

Whether they approve or rejection the decision, how long do they take?

How do they notify you? email or text? or both? 

If the increase decision is an approval, will they see this 'new' increase on their online banking immediately? or it takes time? hours, days etc?

Have you had a vanquis credit card increase via an email invitation?
what was your experience?



assistance to some of the above questions would be appreciated,
Cheers

Batesy1976

Why don't they fill it in if they want the increase?  Or would they not apply if it took a few days?

sleepyjones

I've never had to send proof of income or expenditure ... but it's not worth lieing or saying you earn more than you do to ensure they approve. (It might depend on how much more they're offering you, I've only ever had a £250 increase, so I'm not sure if affordability really comes into it at that level)
If the rent is £0, put down £0.

It's not an instant decision ... once you fill in the details, you'll get a TXT / email a few days later telling you it's been approved, it will then be available on your card after the next statement.  So it will usually take 3 or 4 weeks before you can actually see and use it on your card (They usually offer an increase around about statement time and the increase is applied to the next statement).

It's good to see Vanquis offering increases again though, they stopped doing it in April last year when the pandemic hit.

Dandytf

OP

Almost instant once accepted, they let you know when it is applied.

Some_Guy

How common is it for CC providers to ask for this extra information in order to facilitate a credit limit increase that they (the provider) has initiated?

I've just not come across this before. Though certainly from a lender's point of view it makes some sense, especially in current times, and perhaps more so for 'subprime' lenders / CC providers.

Karen_taris

most decisions these days are automatically instant,

after we enter our details and numbers the algorithm can give decisions instantly after you hit the submit button.

sleepyjones

From experience ... it's not instant with Vanquis, it'll become available on your next statement date.

Grumpy_chap

I have no experience of Vanquish credit cards, but is the OP certain that this is not a phising attempt by someone posing as the credit card company?

Is that link in the e-mail legit?

Can the OP access the same offer through a secure online portal (using known access routes, not an access route provided in the e-mail)?

Danny_G

Grumpy_chap said:

I have no experience of Vanquish credit cards, but is the OP certain that this is not a phising attempt by someone posing as the credit card company?

Is that link in the e-mail legit?

Can the OP access the same offer through a secure online portal (using known access routes, not an access route provided in the e-mail)?

Hey cheers.

Here is the start of the link, (which is in the email)

https://act.vanquis.co.uk/microsite/vanquis/affordability  (then some long letters and numbers)

The Email thet sent from was

customer@servicing.vanquis.co.uk


I Cant see email address on Google ?
Can you find it ?

The offer is NOT available when logging online their vanquis Online banking.

Grumpy_chap

As I mentioned, I have no experience with Vanquis, but I would never trust any link in an e-mail from any credit card provider or financial institution.

Unfortunately, the scammers out there are very clever and they can make an e-mail look like it came from whoever they want and make the link look like it takes you to whichever website they want to make it look like.  Except when you actually follow through you are taken to scammers-R-us.com or whatever.

If there is a genuine offer, it can always be accessed through the normal routes or customer services number as per the back of the bank card.

Here are some advice pages from the Vanquis website about possible fraud / scam schemes:

https://www.vanquis.co.uk/existing-customers/protect-yourself-from-fraud

https://www.vanquis.co.uk/existing-customers/protect-yourself-from-fraud/how-vanquis-protects-you

https://www.vanquis.co.uk/existing-customers/protect-yourself-from-fraud/contact-us

The second one of those links, specifically says "we will never ask you to click on a link to confirm a transaction"

I realise the disconnect between me saying not to click a link and then providing three links.  Rather than follow the links I provided, these are all easy to get to through the internet search engine of your choice.

I am sure there are others here that can give better information about *how* the scammers do this stuff and there may be someone here who can say for definite whether or not Vanquis send credit limit increases by e-mail.  In my experience with other providers, it would be unusual.

It is always better to contact the provider using a method you know rather than a method sent by e-mail.

Some_Guy

Danny_G said:

Grumpy_chap said:

I have no experience of Vanquish credit cards, but is the OP certain that this is not a phising attempt by someone posing as the credit card company?

Is that link in the e-mail legit?

Can the OP access the same offer through a secure online portal (using known access routes, not an access route provided in the e-mail)?

Hey cheers.

Here is the start of the link, (which is in the email)

https://act.vanquis.co.uk/microsite/vanquis/affordability  (then some long letters and numbers)

The Email thet sent from was

customer@servicing.vanquis.co.uk


I Cant see email address on Google ?
Can you find it ?

The offer is NOT available when logging online their vanquis Online banking.

If the link really does go to https://act.vanquis.co.uk... then it appears to be legit (as vanquis.co.uk is indeed their domain/ web address).

Note that scammers can make the address (URL) of a link in the text of the email look legit, but it's only when you hover over the link (or right click it using Windows) and inspect it that you can be sure of where it really leads.

Regarding the email address a message is sent from, this really offers little more guarantee it's from that person or company than the return address written on the back of an envelope delivered in the post - essentially, anyone can write anything. (Nowadays junk email  detection systems do have a limited way of checking the veracity of a sending email address, but definitely not enough to count on.)