I was accepted for a Vanquis credit card with a poor credit rating and offered an initial limit of £250. Attempting to rebuild my credit rating, I used the card occasionally and repaid the full balance in the month that I used the card After a while I noticed £1 being charged to my account, despite paying off the balance.
I called Vanquis to query the charge and was told it was a mistake on their part and my balance was reset to zero. The next month, another £1 charge appeared on my account, despite not using the card. I called again only to be told that it was another "mistake" on their part and the erroneous pound was credited to my account.
I asked the Financial Ombudsman to contact Vanquis regarding the extra charges, but the response from Vanquis was apparently acceptable as they explained how interest is charged from the point of purchase. It still didn't explain the "mistakes".
I started to feel that it would never be possible to pay off this credit card without overpaying and ending up in credit, as clearing the balance always results in a £1 debit remaining.
After a few refunds and a payment I ended up £2 in credit and tried to close the account. I was told that the £2 would not be refunding to my bank account as it was below their payment threshold and that I would need to use the card to spend the £2. So I left the account open but stopped using it.
After constant text messages encouraging me to use my £252 credit, one month I received a text message encouraging me to use my £251 credit. Yes, another sneaky pound had been charged to my card that was in credit. No doubt another "mistake".
I then received a letter notifying me that if I didn't use my account that it would be closed due to the administrative cost of keeping it open and inactive, and a reminder that my balance was below the payment threshold so I would receive no payment in the event of closure.
And so, I used the card to donate £1 to charity leaving me with a zero balance and no interest to be charged.
I've since received another letter encouraging me to get into debt.
I'm waiting for the next letter threatening account closure.
And then another when they finally close the account.
I hope that this costs them more in administrative costs that it would have to refund my £2.
We're only talking about pounds here. But I wonder how much they reap from their customers from all the sneaky £1 charges that go unchallenged.
My favourite thing about vanquis is that they are very willing to help you if you face payment problems if you're up front and honest with them, they have payment holidays (I can't comment on this as I haven't yet used it) and a 'promise to pay' which effectively means if you can't pay on your due date, you have up to 14 days to pay it with no additional cost if you promise to pay on a specific date. I have used this and it has really proven a life saver as my due date is a few days before I get paid. After I used this, I contacted vanquis to ask if my payment date could be moved to the date I got paid and they were more than happy to help.
My only issue with them so far is their interest. I expected it to be high as I have poor credit and I was refused for most credit cards, but I only have a limit of £250 so it is manageable. I frequently get close to my limit, but on two occasions now I have been told my limit will increase in 30 days providing I stay within the limit. I have not gone over it myself, but I have been hit with interest charges at bizarre periods of the month which I am not told about which send me over the limit and I don't get the increase, even if I pay it immediately. This hasn't been too awful as I haven't needed the increase, I just find it a bit strange that this has only happened on the two months I have been promised an increase.
I generally have credit cards for emergencies or theatre tickets etc. I don’t like using any sort of cards online and feel justified over that healthy paranoia after the Talk Talk affair and many like it. Our details are simply not safe out there and foreign criminals have JCB shovels full of our money without us even noticing. It’s just not worth the risk, a cash and cheque guy I am. To minimize my risk I would not write about my cards on an opinion site that can match my real name and address to a card company. That makes things considerably easier for the fraudsters. Half of Romanian is waiting for you to slip up. Good luck.
I applied for the Vanquis card purely because a postal application form came through the letterbox personally addressed to me. That means you are almost certain to be accepted for a card as you have been selected to have one because you have decent credit rating. I have only ever missed two payments on a credit card in twenty years and both because I put the wrong year on after Christmas for the monthly payment, an easy mistake. I am a good customer as I only ever pay the monthly minimum on time and so they make a nice profit on interest. It suits me and it suits them. Vanquis is known as the card that helps people rebuild their credit and so has high interest rates. It’s the card that exploits people with a bad credit history then.
Its annual interest rate is high at around 39% and treble that of some cards. It’s not a card to have a lot of money on. I use it to buy tickets and stuff like that. I use this as I don’t want to use my current account direct debit online so to protect that account from fraudsters. I’m sure by having this card with a certain stigma my credit rating has changed but I pay on time without fail and so hopefully not a problem. I have a couple of hundred on it and half my monthly minimum payment is interest at 3.5% per month and half is paying down the debt, about 12 quid. I’m in control and it’s not a problem. I will be switching the balance to a better card when I can be bothered.
You can pay by cheque, online or direct debit and the bill details easily to follow. The negative of having this card is you get marketing calls from their call centers to sell you PPI and loan products from a subsidiary as they label you as a poor credit risk but a firm no thankyou limits those to once a month. If I miss a month’s payment no doubt they will stress me more. But I can switch at anytime so not worried about that. So far I have not missed a payment and once ready will ditch that high interest rate. It’s definitely a card for those who are struggling to get one. I lie my tits off applying for cards and so don’t worry about them checking your work history. They don’t do due diligence and just go by credit rating agencies. Its quicker for them and as we saw with the credit crunch they don’t really care who gets a card down the chain as long as they get their commission.
A long story short. I paid over £250.00 and cleared my Vanquis account to zero balance and was surprised and annoyed to find the following month to have a bill for £12.00 I phoned and got no where! I spoke to one half wit after another who gave me 4 different stories of why this had happened, one gave me a phone number to phpne and it turned out to be the local Argos store-that is absolutely true! one even said "If you pay £19.00 we will then consider the matter closed" According to them I only owed £12.00??????????????????. Fast forward 3 months. I now have a balance of over £100.00 as they keep adding on fees for this and that and I am not going to pay them. How can a balance of £00.00 suddenly turn into over £100.00
They can take me to court, I care not a jot.
To date, they phone around 15 times per day from 8am until 8pm I do not owe them any money. This will affect my credit and it's through no fault of my own. These half wits don't know their ar*e from their elbow.
When they phone and ask for me, I politely ask who is calling and when they say they are from Vanquis , I say hold on please, place the receiver gently beside the phone, walk away and leave them hanging on and don't go back. If everyone did this they would maybe think twice about harassing people on a daily basis especially ones that owe them no money.
I would rather lick wasps than deal with Vanquis again and advise you to do the same.
I took out a vanquis card in 2007 as I had poor credit and wanted to rebuild my credit file. On applying I got a very quick acceptance and received my card and pin within 3 weeks of applying, with a £500 credit limit. For over 3 years I repaid the balance in full every month and a credit increase was never offered. The lack of an increase wasn't a problem as the £500 more than suited my needs at the time. However, I came into some money troubles as I was unemployed for a time, it was stated in the credit agreement that in such circumstances a 2 month payment 'holiday' could be taken. I applied for this and was refused, as such in this time I was hit with charges and interest that took my account to £700, £200 over my credit limit. My first payment after 6weeks of unemployment was £250 to my card, at the end of that month though they applied interest of £168 putting me back over my agreed limit and therefore hitting me with massive charges, it was £20 a day to be over the agreed limit. I called on several occassions to explain my situation and was told that unfortunately there was nothing the could do (or were willing to do) to help. It took me 4 months to finally get under and stay under me agreed limit at which point I was in major financial difficulty. On the following month I paid £300 to the card and called them to reduce my limit to just £300 to save this from happening again. The next month again I paid £278 clearing all outstaning monies to them and again called and asked for my limit to be reduced to £100 to save me ever finding myself in this situation again. Around 8days later I received a new 'gold' card in the post with a letter informing me that as I had been a loyal customer and had made regular payments to my account they were increasing my limit to £2500- a £2400 increase! Now with my sensible head on I would have told myself to ignore the increased limit, but having had not a penny to spend on myself for months at this time I went slightly crazy with my card, thinking I was just buying a few things but not checking my balance in between I ran my card up to £1200. Foolishly not having read the full new agreement I didn't realise the interest rate had increased to 69.9% - very irrisponsible lending when they knew I was in financial difficulty. After a few months of not paying in full the balance was creeping up and I was unable to make the minimum payments, after my card reached a balance of £2700 and was transferred to a debt collection agency. I agreed to pay £250 every fortnight until the balance was paid. After I had paid the balance to the agency I called vanquis to double check my account was paid in full and was informed I had to make a further payment of £3.57 and they would close my account with no further charges or interest, I paid this over the phone and thought nothing more of it. Two weeks ago, more than 2years after my account was closed and in their own words paid in full I received a letter from a debt collecting agency who have supposedly been trying to track me down the whole time - funny as I haven't changed address or phone number- as they were passed my debt from vanquis, the debt has passed hands back on forth over the two years although I have never heard from eithe vanquis or the debt collecting agency until now. And my final payment to close my account was £0.95 too short and as such due to charges I know owe them £127, that's £127 they will never be seeing from me and I wouldn't reccomend that anyone use one of their cards!
I was in need of a credit card badly as my Barclaycard limit would not be increased. I used to do a lot of transactions online and finding no other alternative I applied for a vanquish credit card and 2 days later I got a phone call from card department. After giving them some required information they told me that a complete application package would be sent to my address and that I would have to send it back to them. As instructed I sent the application after doing a little paper work, and few days later received my nice blue looking vanquish credit card in 2007. I have held the card ever since. I wanted to use it as a tool to improve my credit score to be able to apply for more credit cards.
I used it quite a few times a month at retail stores. However, after a few months I stopped using the card. I was given a credit limit of £250, which stated static for more than a year. It helped my Equifax credit rating go up and I was able to obtain an abbey current account with a visa debit card that also gave me £200 overdraft.
I have found the customer services agents always friendly. The card is accepted widely and the online facility for checking balances, making purchases, making payments, updating personal details etc is just excellent. The main disadvantage is the high interest rates.
Overall, it is a great card to start with experiencing a credit card for beginners. It is also a good option when in need of cash badly. I would recommend to anyone vanquish credit card who can manage their finances well to avoid extra charges from this high interest charging card.
I went to this outfit when things were looking down for me to help my credit score as they say they could. I think I would have been better going to to a loan shark to be honest. The mount it cost me in the end was through the roof, the customer service was one of the worst I have come across, DO NOT ever give them a phone number as this was harassment on the highest level, at least 5 calls a day even some as late 11:30pm. The amount of JUNK mail you get through your letter box is really diabolical.Stay away from this lot, it is for your own good.I give one whole star because I could not give any less..
I have had quite a mixed service from vanquis, but I don't think I would recommend it to people who haven't got additional time to sit around on the phone calling 0800 numbers for every little thing.
I first got my card around 4 years ago, using it as an emergency credit card for little things and then paying it off. However any time you want to find out your balance it requires you calling a premium rate number with lots of protocol (enter 16 digit card number.....now enter passcode....press 1 for this...now press * etc!) which does push up the phone bill even from a BT landline!
I had an altercation with them when I happened to lose my credit card....of course they cancelled the old one meaning I could not call this automated service to pay my credit card as they automatically ask for your 16 digit card number which I could not remember off the top of my head as I hardly used it! and they kept saying I had my security answer wrong, so they could not disclose information to me! Then as I opted for the online service as opposed to paper statements when I signed in online it kept saying that my card had the max balance (£500) and that all of it was available but I could not look at my statement as it only had the old credit card (which of course was lost) and so to prevent fraud it would not display my old credit card info :(
The process took about 2 months for them to send me a new credit card....in which time I could not make any payments as they ONLY accept online or by phone as they are not an actual bank so I was unable to go into a bank or post office with a giro to pay. This of course meant they were happily able to slap me with £12 admin fees and all the rest of it, and put a glitch on my credit rating - not what I go this for!
It's mixed as whenever I call them, staff are of course nothing but helpful and friendly and it's hard to pinpoint blame and shout at the person on the phone who just happened that day to be on the other end of the line when it may not be specifically their fault :(
Overall, I would only say with any credit card not to get it unless its 100% necessary! I still have the card now...I don't use it as its often quite a hassle unless an emergency arises.
Applied for the vanquis card after being invited by them, I already have 2 credit cards all up to date and a catalouge also kept uptp date, Im also on a very good income.I applied and got an instant decision they said i had £150.00 credit limit, 2 weeks later i get a letter in the post saying the application as been declined. Disgusting, Im glad they did decline it if this is the way they treat customers id rather i wasnt one. Any how thanks to Capital One i have all the credit i need now.
I have held a Vanquis card for around 18 months now and got one once I turned 18. I wanted to use it as a tool to improve my credit score too allow me to make a car purchase a year or so later.
I have used it maybe once or twice a month, to say, buy fuel and some groceries. At the end of every month the balance is always paid in full and I have a nice sea of green on my Equifax credit report as a result of which.
When I opened the account, I was given a limit of £250, which has rose to £1000. Now that my score is stable enough, I have been able to purchase a car, take out a small loan and also have a store card (purely for the discount).
The customer services agent's are always straight forward and friendly and the card has an online facility for checking balances, making payments, updating details etc. All round a good card for beginners, but not to be used for large or long-term purchases as the interest rates are very high due to their acceptance categories. I would recommend to anyone who has never had credit before, such as myself, when I was 18.
I applied for a Vanquis card about three years ago after running up horrendous debts whilst I was in University. All the regular card providers rejected me. I was initially put off by the high interest but thought that if I used the card and paid it off in full each month it would help to rebuild my very poor credit score. I applied online and had the card through about two or three weeks later. Initially I was given a credit limit of £250, I used the card only to purchase petrol each month which costs me about £200 per month. When the bill came through I promptly paid it in full. Within a year my credit limit had been increased to £500. The great thing about vanquis is that now you can access your account online which is very handy for me as I tend to deal with all my bills online.
In the three years I have had the card I have only once exceeded my credit limit which cost me £12 which is a lot more reasonable than exceeding my overdraft. Although I don't recommend exceeding it frequently as it will affect your credit score. They also allow you a payment break every so often during which time you will incur interest but won't have to make a payment this is ideal if you have a tough month.
The interest on a balance of £500 is about £30 per month which is higher than other cards but too bad. I would recommend this card to anyone who can clear the balance in full each month to build up their credit rating and show to other lenders that you are responsible.
Every year Vanquis send me a application in the post, so this year I applied. I have no other credit cards/debts or finace or ever had, so wanted the Vanquis card to help me build a good credit report. I got turned down. The problems started when they wanted photo copies of my bills, tenancy agreements etc. to prove who I was so I got them and sent them in... then a few weeks later they wanted my bank information (even going as far as to tell me it has a effect on my application) so they got it. Then they turned me down. Complete waste of time & effort and the fact it took over 2 months to process the application...
If you want to phone expensive phone lines, deal with staff who have no clue and give you the run around give Vanquis a call (Part of Provident need I say more!)
I thought i would write a review on vanquis as they really have helped me alot.
When i was 18 i had ran up loads of debt and have been stuggling on and off for years with finances. So never in my mind did i think i would ever get a credit card again. Over the years i had applied for a vanquis card and always been refused so when i applied for mine a few weeks ago on the off chance it was a surprise what i was accepted. I never thought there was any chance of getting a card so just chose the first card design that came up so no i have a pink card great lol.
The staff have always been friendly with me my card came with a £250 limit which is great for what i need and if people moan its not high enough then its tuff you should not be applying for this type of card then. Yes the interest is high but so are most platinum card.
I think if you have band credit and want someone to take the risk on you the apply. Capital one turned me down but then they did that even when i was first new to credit at 18. Most people who slate this company are going too be bad customers who just want too moan. You take a risk with every company you sign up for anything for the advantge is if you balance is clear u can leave i have all faith this with improve my credit rating and help me in the future. if you cannot get a credit card else where if you cannot get one try vanquis you dont have too stay with them if you use the card pay off the balence and walk away simple it is your choice after all
I dont usually review anything on the internet, but after reading so many bad reviews about this card I feel as though I can't not review it. Many years ago when I was 18 I got myself into a fair bit of debt with 4 credit cards all upto their limits, loans, phonebills and the like. It all got completely out of control, and only now 8 years on am I nearly completely debt free (started paying everything 1 year ago after the final bailiff warrant letter been sent to me, I knew enough was enough). So I started to pay everything off and vowed never to get credit cards again. But I came across this one and another well known company too, and just applied for them. I wasnt expecting to be accepted by either company, but I was by both. With 2 CCJs and numerous defaults to my name, I thought that was quite a good achievement. Anyway when I got the card, it came with a £250 limit, which was great, so I started to spend on it and repay it back. A few months later the limit was raised to £700, then to £1750, and now my limit is £2500, and just the other week I received a gold card from them. I pay way more than the minimum monthly payment, as I have put a fair bit on this card, but only because I know now that each week I pay large sums off of it. If handled in the right way this card is fantastic and it is definitely improving my credit score.
So to anyone reading all these bad reviews, just ignore them as obviously the people that wrote them, dont deserve a credit card. Oh and as for them speaking to you like crap on the phone, that is absolute b******s. Never once have they spoken to me like crap, always friendly, and polite.
So in a few words: Go for this card if you have poor credit rating!
Look, let's face it, none of us would have applied for a Vanquis card if our credit was squeaky clean. And unless you are really daft, you knew exactly what the interest rates are. When I applied for a card with Vanquis, my credit rate sucked! If the milkman knew how bad it was, he would have me paying on delivery!
I was surprised when they sent my card with a credit line of.......£100!!! Nevertheless, it was a credit card, and something of a tool to re-build my credit score. I used the card as most people do, like a debit card, repaying the full amount every time (Not too hard with a £100 credit!) The difference was that I did it every week, sometimes twice a week. My credit limit increased steadily £250 then £300 up to 500, then £1250, and not once had I not paid the full amount. Then someone told me that paying your credit card off every time wasn't a smart thing to do, if you wanted to move onto a card with a sensible interest rate. So I left £400 in debit to run, paying just double the minimum each month.(It's only eight quid) My interest rate fell, and two applications for other credit cards were successful. Today, an envelope arrived with what was obviously a card of some description within. Opening it, I found a GOLD card with a credit line of £2,500. I will, of course never allow it to get anywhere near that amount. But here's a sting in the tail. Vanquis asked me to use my card ASAP (Something internal, said they!) So I went to the mini-market, bought 35 quid's worth of stuff, presented my new shiny gold card and waited for the "accepted" sign to show on that little machine thingy. Guess what? The checkout girl said "I'm sorry sir, but I'm going to have to retain this card!!"
"But I only got the b****y thing this morning!" I protested. By this time a manager had materialised.
"Calm down, sir" he said (the patronising b*****d - if anything gets me going it's some prat telling me to calm down!) Anyway, I went home, got straight on the phone and loaded my guns. Then a message said "Due to the adverse weather conditions, customer services have had to close for today!"
The phone is still in one piece, surprisingly.
But the point? Hey, we all screw up sometimes, but overall Vanquis - you're okay!