Vanquis credit card

Ochmabobe

I had an interesting item of mail today.....an offer of a new credit card.
It was almost impossible to resist (not)!

A massive credit limit of up to £2000 but more likely £150-250.
The best part was the typical APR of 59.0% but variable from 44.6% to 69.5%!!

I just wondered if that has to be one of the most ambitious unsolicited credit card mailing of recent years?
Then again I may be being naive.

It did get me thinking that perhaps I should check my credit report in case I have a problem that I am not aware of that would make this company think that I could ever be so desperate as to use them.
So I have applied to Experian for an up to date report to put my mind at rest.

daveboy

Just a bit of déjà vu.

Anyone else want to start a Vanquis thread?

Ochmabobe

Hi Dave

I have just joined and didn't realise that there had been mention of this card before.
If I had seen the other post I would have added to that.

I am sure that I will get the hang of this soon.
Thanks for the reply.

Don't touch with and bargepoles spring to mind but I wont try to teach any of you Grannies to suck eggs.

M_Thomson

Ochmabobe wrote:

I had an interesting item of mail today.....an offer of a new credit card.
It was almost impossible to resist (not)!

A massive credit limit of up to £2000 but more likely £150-250.
The best part was the typical APR of 59.0% but variable from 44.6% to 69.5%!!

I just wondered if that has to be one of the most ambitious unsolicited credit card mailing of recent years?
Then again I may be being naive.

It did get me thinking that perhaps I should check my credit report in case I have a problem that I am not aware of that would make this company think that I could ever be so desperate as to use them.
So I have applied to Experian for an up to date report to put my mind at rest.

No, you don't have a problem.

Its a mailing that most people on your street have probably been sent. They get your name and address from either another company or the electoral roll and send you a mailing. It isn't a reflection on your credit worthiness it is just a mass mailing.

gingercordial

I got this yesterday too. No idea why - hopefully I don't fit their profile - but I don't like the fact they got my name and address from somewhere. Don't think anyone else in the three flats in this house got one.

Sent their leaflet and letter back to them in their prepaid envelope (shredded the credit agreement) so they'll have to bear the cost of that, plus a note to ask them to remove me from their mailing list.

sparkymark_3

I shall send their mailshot back as well - if lots of us do it I hope it pisses them off !!

Niteflyer

Ok, so their APR is ridiculous!!!

BUT......... this card does have a silver lining!

I contacted Vanquis and from what I can make out, they don't really give a toss who they give the card to!

For those of you (including me) that are trying to build or re-build their credit file, this card could come in VERY handy!

The trick is to just spend around £50 a month on it, on fuel or anything really and make sure you pay ot back IN FULL and ON TIME EVERY MONTH!

This way you don't incur any of their ineterest rates because you are paying back in FULL, ON TIME every month BUT after about 6-12 months you WILL manage to create a decent credit file

I know this card has some bad reviews and to most of you guys here, it would be a useless piece of EXPENSIVE plastic but to some it could be a very usefull little tool in the fight to rebuild your credit.


Just my opinion

Fedz

The advertised rate is OTT but as many will tell you the actual APR of Vanquis customers (myself included) is nearly half that amount at 33.030% - not very different to a store card APR.

Vanquis credit card is better than Capital One (Classic) but not as good as BarclayCard (Initial).

I closed my Capital One account in favour of Vanquis and was £200 better off - Vanquis don't require a possible security deposit of between £49 - £200 unlike Capital One

Kind regards

sertav

How does one apply for a Vanquis card?

Niteflyer

sertav wrote:

How does one apply for a Vanquis card?

Their phone number to apply is 08708507755

But............. first goto www . saynoto0870 . com to see if they have a geographical (cheaper) number for it.

The number above costs 10p per minute and lasts about 2 mins

Cleopatra52

I just recently got something from the same outfit. Not an unsolicited mailshot/application, but actually a letter turning down an application....that I hadn't made!! We have good credit rating and have other cards - so not sure where this came from - any ideas?