Vanquis Credit Card - Dont Touch!

swindondave

Hey everyone!!

I received some junk mail today, and duly opened it like a fool... anyway, that aside it was for a new credit card from a company I have never heard of called VANQUIS CARD. Now, a word of warning to ANYONE who receives this junk mail, but then being Moneysavers I'm sure you wouldn't sign up to this card for the following reason:

1. Maximum of £2,000 - what use is that?!

2. An APR of... what for it.... 59.0% - ARE THEY SERIOUS?! They say this is the typical variable APR based on a typical credit limit of £250, montly interest rate 3.26% which reduce in stages

3. From 44.6% APR to 69.5% APR variable on purchases - THEY ARE SERIOUS YOU KNOW...

4. All that for annual fee of £19 - I THINK VANQUIS BANK NEED TO RETHINK THEIR MARKETING AND INTEREST RATES!!!

Has anyone else had this company try and "sell" them a credit card with interest rates higher than that of Joe Mafia Money Lender down the road!!!

Well Ms Clare Sherry, Customer Marketing for Vanquis Bank, I don't think I will sign up to your EXTORTIONATE Credit Card just yet...

Just thought I would bring this to everyones attention!!!!!! I might even write back to them telling them what I think of their card and use their FREEPOST envelope that was enclosed in the junk that accompanied the card application!

Oh but please, be assured by VANQUIS "WE WILL RIP YOU OFF AND ITS IN PLAIN BLACK AND WHITE ENGLISH" BANK that they are ALWAYS there to help just give them a call if you have a question, loose your card or whatever... Yeah I expect the customer support number beginnings 0033 and has a further 15 digits in and you do actually pay the rate to India to speak to someone about your card that can't even speak the language you need the help in!!

Are they serious that ANYONE would sign up to such EXTORTIONATE rates?!

The_Boss

No offence, but its been posted several times, including one that was just a few threads underneath

Mr_Skint_2

Still makes me chuckle though

pigeonshouse

swindondave wrote:

Hey everyone!!

Just thought I would bring this to everyones attention!!!!!! I might even write back to them telling them what I think of their card and use their FREEPOST envelope that was enclosed in the junk that accompanied the card application!

!

This is what I have done. I have addressed it to A.N. Opportunist. Bull**** and Organised Crime Department.

jakemuk

Ok you may not agree with it but its made for people with bad credit people like me and many others, you have a good one i suppose so you dont apply for it simple realy why post up along with all the others slaggin it off ?

jakemuk

and to add there customer service is in uk

a standard STD code aswell

and people ive spoke to there very polite and helpfull just to put you rite on your points

HelenR_3

jakemuk wrote:

Ok you may not agree with it but its made for people with bad credit people like me and many others, you have a good one i suppose so you dont apply for it simple realy why post up along with all the others slaggin it off ?

if i needed it or didnt , i`d still slag it off

as it happens i had a flyer through today , wrote a letter asking them to not mailshoot me again because im really not interested in their `dubious` products and posted it in their free post envelope

Fedz

HelenR wrote:

if i needed it or didnt , i`d still slag it off

as it happens i had a flyer through today , wrote a letter asking them to not mailshoot me again because im really not interested in their `dubious` products and posted it in their free post envelope

I've always found it easier to complain and jump on the bandwaggon of complainers about a product I know very little about or have no first hand experience of!

If I wasn't interested I'd simply put it in bin with all the other junk mail that arrives by post/magazines ... etc. I find easy enough, why should a Vanquis mailshot be any different.

Vanquis works/operates and comes under the same laws as any other provider.

Niteflyer

Fedz wrote:

I've always found it easier to complain and jump on the bandwaggon of complainers about a product I know very little about or have no first hand experience of!

If I wasn't interested I'd simply put it in bin with all the other junk mail that arrives by post/magazines ... etc. I find easy enough, why should a Vanquis mailshot be any different.

Vanquis works/operates and comes under the same laws as any other provider.

As part of my employment, I am fortunate enough to have some very helpful contacts.

These contacts did a search on Vanquis Bank for me and the results were returned. (I did this search for my own peace of mind before applying)

Thay are a completely Legit and responsible company and the ONLY complaints they have had are from consumers about their ineterest rates. These people get the cards, intend to pay off in full every month, don't bother or can't, then complain about the rates.

They knew the rates when they applied, now they have to pay them, they don't like it!

Anyway, long story short.

They seem an OK company.

Fedz

Vanquis a section of Provident Financial has been around for years and years and are a banking industry in the finance sector.

The shares (PFG.L) are 638.50p - which speaks volumes in itself.

As Vanquis takes high risks in it's potential customers it is obviously going to have a high APR tag. If your going to pay the full balance every month (like myself) the APR isn't a problem.

I realise not everyone is as fortunate as myself, so that being the case Vanquis offer low credit limits for people to use the card like a Visa debit card (if you can't get one). Vanquis offer a full Visa credit card, is chip and PIN, you get cheques to use on your account, check your balance, last 5 transactions ...etc 24/7 telephone.

The APR is advertised as 59% or something but mine is 33.030% so ????

Customer services are very polite, helpful and knowledgable.

I see no problem with them but then again I'm not everyone so ...

super_mario_4

now im not sticking up for them here! but one issue which doesnt get picked up is..yes they are obscenely high aprs, but it is on very small balances! if they were to issue credit cards with £200 limits and normal aprs, then they would only be making a few pence a month, im probably going to get tarred and feathered for this, but i just think that with these high aprs they need to be seen in context of the balance