Poor crediting rating credit cards

fairmorn308

Fedz wrote:

I got the application form within a few days. Posted back completed.

The enclosed letter says:
Aqua is a trademark of SAV Credit Limited, which is used by Halifax Plc under licence.
Aqua Credit Cards are issued by Halifax Plc.
Registered office: Trinity Road, Halifax, HX1 2RG. Registered in England No. 2367076.

The card is Mastercard. Credit limit between £100 and £1,600. Typical APR 29.9% variable. Repayments between 3%, £5 min and or complete balance. Cash advance fee 2% (min. £2). Foreign exchange fee 2.75%. No annual fee. 24 hour customer helpline (locall).

Cash advances 37.11% | Cheques 38.94%

Default Charges: Late payement/over limit/returned payment fees are £20

According to the conditions of use it's N/A for special promotions rate p/a (fixed) and N/A for Special promotions rate period. So I gues they don't offer any special promotions for customers at anytime.

Better than Vanquis credit card (just) but then again my Vanquis statement says purchase interest rate is 33.030% p/y despite the advertised rate of 59.9% or something, so a bonus on that I pay full balance monthly on that card however.

Hope this helps

Is this card like the capital one classic card?

Fedz

In relation to high'ish APR ... yes

This is a Mastercard (Cap1 classic is Visa), Aquacard don't require a security deposit.

With all due respect to Capitalone, if I had my time again I'd apply for Barclaycard (Initial), Vanquis and or Aquacard over Capitalone due the fact that the former companies are alot faster at activating accounts than the latter and that they require no security deposit

Karma67

Hi Fedz....Do you know off hand which CRA these companies use??

Thanks

Fedz

Hi Karma67
It'll be the same as used by Halifax Plc as Aqua Cards are issued by Halifax Plc.

In the Terms leaflet they mention Experian Ltd, Equifax Plc and Callcredit Plc.

The Aqua Credit card is designed for people with low credit scores. So is easier to get accepted for the card than say eg: Halifax One Card.

DigiGuru_2

Looking at these cards at the moment.... waiting on the Aquacard application pack and am on the phone to Beneficial right now

Stu

BWZN93

Dont I feel lucky today - after applying for a capital one card a couple of weeks ago and them offering me £200 limit for £200 (why???? I have NO debt - nothing!! Id think they should be throwing the bloody stuff at me!) this morning (actually - its was 10 mins ago - my mail arrived at 5.05pm today) I recieved an application form from Vanquis.

Now - my head says 'AVOID LIKE THE PLAGUE', but im actually tempted - I want to build my rating - not play swapsies with £200 with a very slow to do anything company. Anybody actually have the Vanquis?? Are they ok? I dont intend to have a running balance, Id pay off in full every month. That would mean I dont pay interest right??

Jo xx

Fedz

Yeah! I have a Vanquis card. They are quite good. I never have had a problem with them to-date. The cards are nice and bright, chip and pin and are VISA.

My card is valid for a 3 year term and the credit limit is £250 (no deposit with Vanquis).

The monthly statements are comprehensive and easily understood.

I have phoned them once and they were very polite. You get 24 hr telephone number to check your account status (credit limit, spent, available and last 5-10 transactions).

I was expecting the advertised 59.9% apr or something but according to the statement it's 33.030% and decreases as your credit limit is increased over time.

I'm very happy with them and despite having a Barclaycard (initial) I think I'll keep the Vanquis account/card as it's quite nice

You are correct if you pay the full balance by the due date you pay no interest

Hope this helps.

BWZN93

It does, thanks Fedz!

Jo xx

branney

i had some bad credit a number of years ago. saw my experian report today through a friend who works in a bank, and it looks clean.

should i also look at the equifax one before applying for anything? never heard of callcredit - is that new?

i have not been on the electoral roll either. do you think vanquis would still take me? i have wage slips for the same job, going back 2 years now, and also i have never went overdrawn on my overdraft during that time.

would appreciate the help. i want to build my credit rating back up so i can apply for a mortgage in a few years.

ti1980

I would definitely look at the Equifax report before applying for anything.

Most cards etc seem to use Experian but there are a few that use just Equifax and some that use both.
Callcredit is much newer than the other two, sometimes the data they have is quite limited.

I wasn't on the electoral role when I managed to get an Easymoney card. It would be much better though if you got yourself on though as they will look at that when you apply for your mortgage in a few years. They like to see some traceable history.

Hope this helps.