Close Vanquis card?

dtj1990 wrote: »

Morning all,

first time poster here, i was just wondering as i have a vanquis card with a low limit that i foolishly let get on top of me and it was passed to Moorcroft however it still shows on my credit file as an Active Vanquis card and my payment arrangement amounts go down on my credit file as I make payments, once I complete the last payment should I cancel the card completely or leave it as is?

I am thinking that as it has been passed to Moorcroft I would not be able to use it (sensibly as I am managing my finances rather than having my head in the sand) and I should just close it down.

Any thoughts would be appreciated.

How did a Vanquis card with a low limit (assuming under £500) cause a debt collection referral?

The minimum payment per month is peanut dust. Did you forget to make the monthly payment, couldn't afford anything or did not intend to clear the debt?

The account can't be marked as closed until the debt is resolved. Once you've settled with the collections agency, it can lay to rest in your closed section.

Assuming you are quite young, based on the subprime and low limit, it is not a great start to building a credit file at all. Learn from this and keep on the ball in future. I am 18 and still manage to balance 3 credit cards (£1900), 2 loans (£1700) and 2 catalogs (£590) spread each month on a low student's income.

You can always meet the minimum repayment, as long as the balance isn't high enough to make it a ridiculously expensive amount.

Madasa85 wrote: »

!!!8220;Learn from this and keep on the ball in future!!!8221;
If only there was a salute emoji.

The snooty op above appears to have a lot of personal experience in maxing out subprime, low limit cards, namely Vanquis. Even going overlimit with Uber transactions. Great job servicing your payday loans from Satsuma with your low student!!!8217;s income by the way. If we could learn from anyone, it!!!8217;s probably you.

Let me pick you up on a few things sweetheart:

1. The Uber transaction was an isolated error, in which the merchant authorized more than what I agreed. Capital One immediately refunded the fee and didn't report it to the CRAs. This was January and has not happened since.

2. Satsuma Loans is not considered an "Advance Against Income" like Wonga and other providers which offer one-time repayment loans. Even if it was, this is none of your business. My advice isn't less credible based on what debt I have, the fact is, I've never once missed a payment or had a bad mark recorded on my credit file. If other people have, it's fine, as long as they learn from their mistake in the future.

3. My Vanquis isn't low limit, my monthly maxing out (which was always paid in full rewarded me with a boost to £1000 which can only benefit my credit availability ratio. As for Capital One, they were 0% which I have now paid off and consolidated. As for Aqua, they were also 0% which I am in the process of paying off. You should check your facts more thoroughly before making sassy remarks across my posts.

Any account that has been passed to debt collectors, is no longer an active account, it will have defaulted and either debt collectors are working on behalf of vanquis or vanquis have sold it on.