no problems (Vanquis Credit Card)

Member Name: shell

Product:	Vanquis Credit Card
Date:	02/09/07 (715 review reads)
Rating:

Advantages: good for building credit rating

Disadvantages: not usable for expensive purchases

i have a vanquis card and i can say in all honesty i havent had any problems. the card shouldnt be used like others because of the high interest rates. the way that i use it it to buy something small for a fiver then pay it off straight away. vanquis then add a repayment notice on your credit scoring (i use credit expert) each time you do this. so if you make 2 or 3 payments each month your rating will go up quicker. dont be tempted into buying something you cant repay because that is when the interest kicks in. as i keep my balance clear each month, the most i have ever paid is £1. the 'bank' as i am aware is under investigation for the high interest rates and for the people it is targeting but when i recieved my card, the information that came with it did advise me to spend little and keep my balance clear to build my credit rating. i dont think it is intended for large purchases or for prolonged use.

Summary: go ahead if you can be resonsible