Vanquis Credit Card - Dont Touch!

HelenR_3

Fedz wrote:

No problem HelenR

I'm a discharged bankrupt from 6 years ago :rolleyes:

Lesson learned. Don't have too many credit/store cards open - have a choice 2 max so you don't get lost and have several CC bills every month

oh gotcha , sorry

perhaps i should pay more attention to some of your previous posts

i feel i should take it all back what i said about vanquis :T

Fedz

HelenR wrote:

oh gotcha , sorry

perhaps i should pay more attention to some of your previous posts

i feel i should take it all back what i said about vanquis :T

You have your own opinion

I understand you not liking being mailed by them without asking and sending back the mailshot in the pre-paid enevelope - I used too do that years ago but got bored with it after awhile and just simply bin them now.

I do however strongly disagree with people knocking CC like Vanquis. If you are trying to get your credit score back up for whatever reason you are forced to strat at the bottom.

Like me people are going to jump at the chance of a full Visa cc and most at any cost.

I knew I would get a small credit limit with them due to my past history but it was a start.

I used it and bought things with it I'd normally buy so it wouldn't get out of hand.

Then applied for Barclaycard as their APR was better - was accepted. I now had 2 cc that I could manage and pay the whole balance on Vanquis and just pay the Barclaycard in parts to keep a history.

Now this JJB Mastercard was accepted and history has taught me to keep 2 good ones as you move up the ladder and close the others

My system appears to be working but I know I have enough savings to pay the whole lot if I get caught short and I won't make the same mistake twice as you don't get a 3rd try - one is a mistake and learn by it

Thanks and kind regards

HelenR_3

Fedz wrote:

You have your own opinion

I understand you not liking being mailed by them without asking and sending back the mailshot in the pre-paid enevelope - I used too do that years ago but got bored with it after awhile and just simply bin them now.

I do however strongly disagree with people knocking CC like Vanquis. If you are trying to get your credit score back up for whatever reason you are forced to strat at the bottom.

Like me people are going to jump at the chance of a full Visa cc and most at any cost.

I knew I would get a small credit limit with them due to my past history but it was a start.

I used it and bought things with it I'd normally buy so it wouldn't get out of hand.

Then applied for Barclaycard as their APR was better - was accepted. I now had 2 cc that I could manage and pay the whole balance on Vanquis and just pay the Barclaycard in parts to keep a history.

Now this JJB Mastercard was accepted and history has taught me to keep 2 good ones as you move up the ladder and close the others

My system appears to be working but I know I have enough savings to pay the whole lot if I get caught short and I won't make the same mistake twice as you don't get a 3rd try - one is a mistake and learn by it

Thanks and kind regards

The Benfits to someone like yourself are glaringly obvious and im really pleases the way its worked out for you , you sound like your unlikley to make the same mistakes again, my worry was towards people who just cant help using CC`s regardless of mistakes and stress that it may have caused them in the past, and the mailshooting to all known addresse`s is bound to catch a few of those.

And looks like i did get that thanks in the end then

H

Fedz

HelenR wrote:

The Benfits to someone like yourself are glaringly obvious and im really pleases the way its worked out for you , you sound like your unlikley to make the same mistakes again, my worry was towards people who just cant help using CC`s regardless of mistakes and stress that it may have caused them in the past, and the mailshooting to all known addresse`s is bound to catch a few of those.

And looks like i did get that thanks in the end then

H

I can understand your concern but with all due respect your always going to get people who get credit and get more credit and make the same mistake again and again. You can advise people but if they don't want to listen they'll never learn no matter how responsibile the lender may be. They deserve the bad credit history!

Some lenders though do deserve the bad customers as they make it too easy to get credit.

Vanquis in all honesty I see as one of the good guys, they are cautious lenders with low credit limit and won't budge until they have a good history of you to trust.

Barclaycard I found quick to lend a higher amount.

The JJB Mastercard is 18.9% - lower than Vanquis - so now that Vanquis card has to go in all honesty despite me being attatched to them :rotfl:

As I get new lower cc cards - I'll simply cancel the higher ones until I get a really good low card and then I'll stick

tattooed_lady

Fedz wrote:

Hope their quick as I'm not too keen on using non-chip and pin cards.

Went to JJB Sports today - I have a store card - and went to pay for 2 t-shirts that we're half price and was asked if I wanted the JJB Mastercard. I thought OK but I doubt they'd give me one, I struggled to get the store card :rolleyes:

Shock and horror it was accepted and it's chip 'n PIN

Considering whether to get rid of the Vanquis in favour of the JJB Mastercard and while I'm tidying-up close the store cards.

Thanks to Vanquis for giving me my first credit card

Well done for getting the JJB card, you've obviously proved you are creditworthy by the way you have managed your other cards. :T

I have a BC initial and was shocked when I was accepted for the Halifax one with 0% on purchases/bt's, it only has a low limit but that's fine by me

Can I ask, what is the apr on the JJB card?

tattooed_lady

Fedz wrote:

I can understand your concern but with all due respect your always going to get people who get credit and get more credit and make the same mistake again and again. You can advise people but if they don't want to listen they'll never learn no matter how responsibile the lender may be. They deserve the bad credit history!

Some lenders though do deserve the bad customers as they make it too easy to get credit.

Vanquis in all honesty I see as one of the good guys, they are cautious lenders with low credit limit and won't budge until they have a good history of you to trust.

Barclaycard I found quick to lend a higher amount.

The JJB Mastercard is 18.9% - lower than Vanquis - so now that Vanquis card has to go in all honesty despite me being attatched to them :rotfl:

As I get new lower cc cards - I'll simply cancel the higher ones until I get a really good low card and then I'll stick

Sorry you already answered my question! Should have paid attention.

Fedz

ruyareece wrote:

Well done for getting the JJB card, you've obviously proved you are creditworthy by the way you have managed your other cards. :T

I have a BC initial and was shocked when I was accepted for the Halifax one with 0% on purchases/bt's, it only has a low limit but that's fine by me

Can I ask, what is the apr on the JJB card?

I dream of a Halifax One - the card looks great too

I'm not bothered for high credit limits just a low apr - it's a quest I'm hell-bent at succeeding at :rolleyes:

The JJB is 18.9% with 10% APR on JJB specials in-store.

Getting lower from the 30+% - it's only taken me 6 months to get this far - with a massive thanks to forum members posting their opinions

weegee_2

Hi, I've just found this string by searching Google, having been shocked by the Vanquis offer I received in the post today. Like others in this string, I find it outrageous that they expect anyone, of any status, to pay such exhorbitant interest and a yearly fee too. I feel really bad for people who've ended up in the bad debt spiral, because companies like this take even more advantage - and they do it by acting friendly and caring. Clearly, it's just an act, what they really want is to be able to earn money off anyone's debt.

So they decrease the rate to 24.56 percent, but only if you put £2000 on the card! You still have to spend the money to get to this "low" rate, and 24.56 percent is still huge compared to many cards.

It's an awful dilemma that if you don't need credit, you can get tons of it at a reasonable rate. And if you really need credit, you pay through the nose. This may be the way the business operates and it may be legal, but it is certainly not ethical, reasonable, or fair.

Pity there isn't an alternative for those in debt trouble. I feel sick that they fall prey to banks with such abusive and profit-motivated tactics.

I can only hope that anyone who recovers their credit rating by this route has the good sense to change to a reasonable card as soon as possible. Just because the person on the phone has been nice, there's absolutely no reason to stay with such an abusive credit company once your credit rating is re-established.

Good luck to anyone caught in this trap, I hope you can get out soon. And when you do, give Vanquis the heave-ho, because they will not reward you by staying with them - they'll just carry on ripping you off.

Best wishes

Fedz

Welcome to MSE!

The APR is 24.56 if you have a credit limit of £2,000 not as you say if you have £2,000 owed.

Their are also alternatives to Vanquis:
Barclaycard (Initial)
CapitalOne (Classic)
Aqua Credit Card

I have a Vanquis card and find it not a problem

weegee_2

Hi thanks for welcome,

Yes I realise my linguistic error, nevertheless you would pay 24.56 on 2 grand if you owed it. This is really high. Surely anyone who achieves a credit limit of 2 grand ought to be able to get a more reasonable rate elsewhere.

I can appreciate that they're in business to make money and that it's legal, but 59 percent? Their profit margin must be astronomical. This is what I object to. They could set a lower credit limit and still not charge such unbelievable rates of interest, and still make a lot of money. But they're just plain greedy!