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  • FIRST POST
    • creditnewbie87
    • By creditnewbie87 28th May 19, 7:03 PM
    • 4Posts
    • 1Thanks
    creditnewbie87
    vanquis credit limit increase offered
    • #1
    • 28th May 19, 7:03 PM
    vanquis credit limit increase offered 28th May 19 at 7:03 PM
    Apologies if not the right place.
    Vanquis emailed offering credit limit increase from £500 to £1250 today so I clicked online to accept it and they asked for income and expenditure details. On benefits so no problems there but now I've had a text requesting proof of income via secure upload.
    Is this a good sign or did I stuff up somewhere?
    I put down £950 a month but just calculated and it's more than that!

    Any advice appreciated thanks
Page 1
    • zx81
    • By zx81 28th May 19, 7:07 PM
    • 23,829 Posts
    • 26,493 Thanks
    zx81
    • #2
    • 28th May 19, 7:07 PM
    • #2
    • 28th May 19, 7:07 PM
    It seems to be going ok.

    They need to take extra precautions with their customer base.
    • Terry Towelling
    • By Terry Towelling 28th May 19, 7:10 PM
    • 1,970 Posts
    • 1,659 Thanks
    Terry Towelling
    • #3
    • 28th May 19, 7:10 PM
    • #3
    • 28th May 19, 7:10 PM
    Doesn't sound like you stuffed up. Sounds like the amount you've quoted makes the 'risk' of the limit increase acceptable to them but they just need to check it for accuracy and maybe longevity - e.g. if it were income from a very short-term contract, they might say 'no', but if it looks like a secure, long-term income amount, you'll probably be OK.
    • A4445
    • By A4445 28th May 19, 7:14 PM
    • 1,073 Posts
    • 551 Thanks
    A4445
    • #4
    • 28th May 19, 7:14 PM
    • #4
    • 28th May 19, 7:14 PM
    It’s quite normal to be asked income when having a credit increase. I’ve never been asked to prove income.
    • Mrsn
    • By Mrsn 28th May 19, 10:53 PM
    • 207 Posts
    • 187 Thanks
    Mrsn
    • #5
    • 28th May 19, 10:53 PM
    • #5
    • 28th May 19, 10:53 PM
    I would say they are just doing due diligence on their behalf, I’m sure it’s nothing to be worried about
    • creditnewbie87
    • By creditnewbie87 1st Jun 19, 8:35 AM
    • 4 Posts
    • 1 Thanks
    creditnewbie87
    • #6
    • 1st Jun 19, 8:35 AM
    quick update
    • #6
    • 1st Jun 19, 8:35 AM
    Called customer service to make sure I'd done it right and the woman said as long as I keep my account I'm good standing it'll be applied after my next statement on the 18th.
    Thanks for the advice. Very much appreciated
    • princesspennies
    • By princesspennies 1st Jun 19, 9:27 AM
    • 55 Posts
    • 138 Thanks
    princesspennies
    • #7
    • 1st Jun 19, 9:27 AM
    • #7
    • 1st Jun 19, 9:27 AM
    Mine increased from £1000 to £2000 with them but they didn't ask for any expenditure details etc? Like the other commenters have said there probably just following a new procedure etc
    • gionnetto
    • By gionnetto 2nd Jun 19, 9:43 PM
    • 184 Posts
    • 36 Thanks
    gionnetto
    • #8
    • 2nd Jun 19, 9:43 PM
    • #8
    • 2nd Jun 19, 9:43 PM
    Vanquis emailed offering credit limit increase from £500 to £1250 today
    Originally posted by creditnewbie87
    May I ask you what your usage pattern was? I've had it for 1 year and no offer yet!
    • skfblues
    • By skfblues 8th Jun 19, 2:21 PM
    • 11 Posts
    • 0 Thanks
    skfblues
    • #9
    • 8th Jun 19, 2:21 PM
    • #9
    • 8th Jun 19, 2:21 PM
    I was also given an increase with no proof of income needed by them. They are crafty though, on the website you can only choose to pay the minimum or the full amount each month, you have to ring them to pay another amount, also you need to ring to ask what the interest rate is ?
    • Mrsn
    • By Mrsn 8th Jun 19, 3:43 PM
    • 207 Posts
    • 187 Thanks
    Mrsn
    SKFblues - I pay a set amount by direct debit but if I want to make extra payments via the website it’s never been an issue?
    • SnowTiger
    • By SnowTiger 8th Jun 19, 7:23 PM
    • 3,874 Posts
    • 2,859 Thanks
    SnowTiger
    I was also given an increase with no proof of income needed by them. They are crafty though, on the website you can only choose to pay the minimum or the full amount each month, you have to ring them to pay another amount...
    Originally posted by skfblues
    Here's a screenshot from Vanquis' website:



    It asks "How much would you like to pay?"
    • d123
    • By d123 8th Jun 19, 7:39 PM
    • 8,056 Posts
    • 5,259 Thanks
    d123
    I was also given an increase with no proof of income needed by them. They are crafty though, on the website you can only choose to pay the minimum or the full amount each month, you have to ring them to pay another amount,
    Originally posted by skfblues
    You can pay any amount and any account using online banking, they have a sort code and a/c number on their statements that can be used for an online payment and the reference is the long card number (I’ve paid someone’s Vanquis bill from my online banking before).
    ====
    • Nasqueron
    • By Nasqueron 9th Jun 19, 10:27 AM
    • 7,603 Posts
    • 4,840 Thanks
    Nasqueron
    You should always be paying the card off in full every month if you want to show you are a responsible borrower and for the company to be more likely to give you a limit increase
    • ryan121
    • By ryan121 9th Jun 19, 11:31 AM
    • 172 Posts
    • 58 Thanks
    ryan121
    I was also given an increase with no proof of income needed by them. They are crafty though, on the website you can only choose to pay the minimum or the full amount each month, you have to ring them to pay another amount, also you need to ring to ask what the interest rate is ?
    Originally posted by skfblues
    You need to use the app. The app allows you to set a fixed amount or even a percentage of the balance every month.

    Their website isn't very good.
    • molerat
    • By molerat 9th Jun 19, 11:35 AM
    • 21,388 Posts
    • 15,648 Thanks
    molerat
    ............. also you need to ring to ask what the interest rate is ?
    Originally posted by skfblues
    I very much doubt that is true.
    https://www.helpforheroes.org.uk/give-support/donate-now/
    • T-G-C
    • By T-G-C 11th Jun 19, 3:23 PM
    • 506 Posts
    • 257 Thanks
    T-G-C
    Generally, income and expenditure + documentation is requested when Vanquis are making the decision to increase your limit solely on good handling of the account, but need to ensure that they are further lending responsibly. For some customers, especially those offered an increase within 12 months from account opening, the increase may be offered unconditionally.

    You should never accept an increase without considering the financial implications it could have. If you are confident that you will not be tempted to max-out the credit limit, putting you into a position of high interest and repayments, then it would be wise to accept due to the positive influence it has on your credit file.
    Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.
    • SnowTiger
    • By SnowTiger 11th Jun 19, 7:13 PM
    • 3,874 Posts
    • 2,859 Thanks
    SnowTiger
    Generally, income and expenditure + documentation is requested when Vanquis are making the decision to increase your limit solely on good handling of the account, but need to ensure that they are further lending responsibly.
    Originally posted by T-G-C
    I'm not sure that's the norm. I've had several automatic limit increases from Vanquis without being asked for additional information. I'm a proud Vanquis Gold customer now.

    Incidentally, my Vanquis card is branded as Granite. MI Money, who promoted the Granite branding, and Vanquis seem to have parted ways. My card expires in August 2019. I'm wonder whether the replacement card will be Vanquis or Granite branded.
    • Cbellis1977
    • By Cbellis1977 13th Jun 19, 2:18 PM
    • 2 Posts
    • 0 Thanks
    Cbellis1977
    Hi I’m new here!

    I have a Vanquis account I was initially given £500 limit, pay every month the minimum and a few quid over to the nearest £100, how were any of you offered an increase?
    I haven’t been offered one myself, but today when I signed into the app, there was a message popped up upon logging in, it was two messages one to say “ I don’t want an increase” and one “ yes I do want an increase” so I clicked the yes, and then it just took me straight to my statement page, but my credit limit remains the same! Anyone experienced anything like this?
    Any info appreciated

    Thanks ��
    • Nasqueron
    • By Nasqueron 13th Jun 19, 3:37 PM
    • 7,603 Posts
    • 4,840 Thanks
    Nasqueron
    Hi I’m new here!

    I have a Vanquis account I was initially given £500 limit, pay every month the minimum and a few quid over to the nearest £100, how were any of you offered an increase?
    I haven’t been offered one myself, but today when I signed into the app, there was a message popped up upon logging in, it was two messages one to say “ I don’t want an increase” and one “ yes I do want an increase” so I clicked the yes, and then it just took me straight to my statement page, but my credit limit remains the same! Anyone experienced anything like this?
    Any info appreciated

    Thanks ��
    Originally posted by Cbellis1977

    If you're only paying the minimum + a few quid it looks like you are struggling financially so it's responsible lending not to give you any more credit in case you run up an unaffordable debt. You should look to clear off the balance in full every month and after a while they might consider giving you a larger balance. Why do you need a larger limit given you appear to not be able to afford the life you are leading
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    • Cbellis1977
    • By Cbellis1977 14th Jun 19, 4:04 PM
    • 2 Posts
    • 0 Thanks
    Cbellis1977
    Vanquis increase
    Thanks for the reply, I have only spent £120 from the £500 limit I was given, I took the card out originally to up my credit score as I’m a first time buyer, I use the vanquis card mainly for fuel and bits and bobs just to spend a little so I can pay back each month hoping for my credit score to grow. I was just enquiring really to see if anyone had been offered and increase through the app, I’m not in any great rush for extra money on the card, I’m hoping that my credit score will become higher each month!

    Thanks
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