Vanquish Gold Card

Bluebirds1975

I currently have a Vanquis card which I am using to help rebuild my credit file.

Recently I have received a letter stating that they are going to upgrade me to their gold card within the next 14 days.

Has anyone had this happen to them?

What I want to know is it just a change in the colour of the card or is there a change in the APR rate which is over 40% on their normal card?

I have paid the balance in full since the day I have had the card so never paid them a penny in interest. Just seeing if the "gold card" is a way to try and make me keep some sort of balance of the card each month

skyrider007

Maybe your card will look the same but your interest will be reduced. You're probably in Tier A or B.

The annual Interest rates (compounded) and the Total Charge for Credit in relation to your Account at the time of the agreement is from one of the tiers A, B, C, D or E below. The Total Charge for Credit is based on a £1,500 Credit Limit being borrowed at the start of the agreement for one year at the relevant interest rate and repaid in full by equal instalments beginning one month after the start of the agreement:

Tier A) Purchase/Balance Transfer annual rate 19.94%, Cheque annual rate 29.95%, Cash annual rate 33.97%, Cash Transaction fee 3%/£3, Total Charge for Credit £153.03 or

Tier Purchase/Balance Transfer annual rate 29.95%, Cheque annual rate 39.94%, Cash annual rate 44.27%, Cash Transaction fee 3%/£3, Total Charge for Credit £223.78 or

Tier C) Purchase/Balance Transfer annual rate 39.94%, Cheque annual rate 49.94%, Cash annual rate 54.57%, Cash Transaction fee 3%/£3, Total Charge for Credit £291.13 or

Tier D) Purchase/Balance Transfer annual rate 49.94%, Cheque annual rate 59.94%, Cash annual rate 64.88%, Cash Transaction fee 3%/£3, Total Charge for Credit £355.37 or

Tier E) Purchase/Balance Transfer annual rate 59.94%, Cheque annual rate 69.51%, Cash annual rate 74.75%, Cash Transaction fee 3%/£3, Total Charge for Credit £416.94

http://www.vanquis.co.uk/home/Terms_and_Conditions.aspx

Bluebirds1975

Cheers Skyrider

I did have a look at their T&C before posting on here. Nothing there states which tier you will be on if you have a standard or gold card.

Currently I think I am tier c with their box standard blue card

Just thinking if I remain on tier c with a gold card then there seems little point as to why they are upgrading me

PAULUK08

Hi Bluebird , what credit limit have you got with them . My APR is 34% , with a limit of £1000 , I have had the card for a year . They seem to increase my limit every six months and have dropped the interest.

Justy

Bluebird do you mind if I ask you how long you've had a Vanquis card?

PROLIANT

Vanquis have accepted me for a card and it is on its way in the post, £250 @ 39.9% APR, does that mean that they introduce their customers via the normal credit builder card and then in order to retain them give them a better card? Because they do not advertise a Gold Visa or anything else just the std credit builder card.

Toomuchdebt

Mine arrived this morning and the APR is 38.08% with a £250 limit, so it looks like they deal with each customer individually rather than just have a blanket APR for those of us with less good credit ratings.

battyboimatt

My vanquis card is at 34.9 with a £2000 limit although alas it shall be going soon as I have just got a Asda Card with a 19.9 APR and £2000 limit

PROLIANT

Just checked my post and there was a vanquis Visa in their £250 @34.08%APR. :T

skyrider007

PROLIANT wrote: »

Just checked my post and there was a vanquis Visa in their £250 @34.08%APR. :T

congrats :beer:

spinningsheep

My card is what they refer to as the Abacus card, loads of balls on it, mainly orange in colour. My limit started at £500, and is now £1000. My APR is 44.9%. I plan to pay off the balance next week to make it £0, do you reakon they may reduce my APR when they suddenly see that I have stopped using the card?