Vanquis Card Update

HelenR_3

eagle wrote:

Funny that. I've been following this and other threads about these crooks. I don't usually get that much junk through the door, especially credit card applications, but this week I received one of these Vanquis cards.

Apparently, my maximum credit limit is £2,000 and my APR about 58%!!! I find it really strange that they would invite me to apply. I consider myself to have relatively good credit and have a couple of cards running currently. I've never had a mortgage or been in debt, so don't know how they select the poor old sods they send this junk to.

Target that electorol roll , send a thousand `offer letters`

theres bound to be a few poor sods in that 1000 that want it

Fedz

HelenR wrote:

Target that electorol roll , send a thousand `offer letters`

theres bound to be a few poor sods in that 1000 that want it

I'm hardly a 'poor sod' - I work 39 hrs a week and get £270 p/w salary and I wanted a Vanquis - they are just everyday credit cards and my APR was 33.030 on £250 credit limit - despite the advertised rate, it was lower.

They are no different to Barclaycard (Initial), Aqua and or Capital One (Classic) credit cards, except Capital One often require a security deposit, Vanquis don't

Even now despite having a full current account with a great overdraft facility, a Barclaycard and a Mastercard - I will keep it as used credit card as Vanquis are highly reliable and friendly.

Vanquis are fantastic to increase your credit score.

It's easy to 'call' things you don't want

Niteflyer

Fedz wrote:

I'm hardly a 'poor sod' - I work 39 hrs a week and get £270 p/w salary and I wanted a Vanquis - they are just everyday credit cards and my APR was 33.030 on £250 credit limit - despite the advertised rate, it was lower.

They are no different to Barclaycard (Initial), Aqua and or Capital One (Classic) credit cards, except Capital One often require a security deposit, Vanquis don't

Even now despite having a full current account with a great overdraft facility, a Barclaycard and a Mastercard - I will keep it as used credit card as Vanquis are highly reliable and friendly.

Vanquis are fantastic to increase your credit score.

It's easy to 'call' things you don't want

Have ot agree with Fedz on this one!

I found them nothing but positive for me

Fedz, did you get my PM's mate?

BWZN93

Vanquis have been great for me too! I like having a low limit, I like that I know I can pay off the full balance every month (hence actual rate of 0%) and it will help my credit rating.

The 'poor sods' I pity are those that come into my bank once a month scraping together their last few pounds out of their current accounts (and even their savings accounts) to pay the minimum balance off their massive £5000 limit cards, and then enquire about loans.....

Whose the poor sod then?? Not me, thats for sure!

Jo xx

Fedz

With all due respect to the others, I have yet to meet a Vanquis customer that is unhappy and or regrets being with Vanquis.

branney

Niteflyer wrote:

Could well be BUT the fact still remains that Vanquis GOT the application just after I submitted it and they called me


Matt

Well I hope for your sake it really was Vanquis who called you back!

For those who are unwilling to use the web link, Vanquis took about 5 weeks to send me a form, but they processed it in around a week or so, and I am now a customer as of today.

tattooed_lady

jw1096 wrote:

The 'poor sods' I pity are those that come into my bank once a month scraping together their last few pounds out of their current accounts (and even their savings accounts) to pay the minimum balance off their massive £5000 limit cards, and then enquire about loans..... /QUOTE]


Thanks for that post Jo, it just shows you how bad things can get when you have too much credit available to you. I remember the days when I had to do the above and thank God now that I'm much more sensible.

As for Vanquis, I don't have one but I agree with Fedz that I have not heard one bad thing about them on here (apart from the 'outrageous' interest rate lol) and if something helps you build your credit rating up again then i'm for it, as long as you manage your account carefully which i'm sure everyone here does.

As for HelenR's comment, to be fair I don't think she meant to offend anyone

CTT_2

I received one of their unsolicited applications on Thursday but some what bemused because my credit score is excellent. When I have £43k stoozed away why on earth would I need one of their cards. However the Vanquis card will work for some people but not for me.

Niteflyer

CTT wrote:

I received one of their unsolicited applications on Thursday but some what bemused because my credit score is excellent. When I have £43k stoozed away why on earth would I need one of their cards. However the Vanquis card will work for some people but not for me.

The Vanquis card IS good for a LOT of people. Even if the APR is 69%, it doesn't matter as most people get the card to pay pff in full every month and build their credit.

If Vanquis send you an invite to apply, it doesn't mean that the ythink you have bad credit so there is no reason to feel upset or bemused, they have absolutely NO IDEA what your credit is like until you apply and they do a credit check.

They just send out random invites, that's all and if 40 people apply for every 1000 invited they send out (4%) then they are getting a pretty good return

branney

Niteflyer wrote:

If Vanquis send you an invite to apply, it doesn't mean that the ythink you have bad credit so there is no reason to feel upset or bemused, they have absolutely NO IDEA what your credit is like until you apply and they do a credit check.

my theory was that they want (1) the people with less than perfect credit, but also (2) those who are at their stooze limit, who may want some extra cash but be unable to open another low interest card account.

of course, you are right since they can't target without doing a credit check, but it might explain how they would get a decent hit-rate on their advertising.

i think type (1) automatically comes to mind when we think of vanquis, but type (2) exists in plenitude - it just generally won't be the sort of person on this forum!