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I found an advert for Vanquis Bank on money supermarket.com, and read some really awful reviews about them, and gut wrenching APR’s, but stuck in a rut I took the plunge eye’s wide open. I applied on line at www.vanquis.co.uk and filled out the online application with took about 4/5mins. ... Read review
Advantages: Accepts people who would not be considered by anyone else Disadvantages: SHOCKING APR's + Slow Delivery
...I found an advert for Vanquis Bank on money supermarket.com, and read some really awful reviews about them, and gut wrenching APR’s, but stuck in a rut I took the plunge eye’s wide open. I applied on line at www.vanquis.co.uk and filled out the online application with took about 4/5mins. The website as of Aug 09’ was advertising typical APR of 39.9%
3 days later I received a phone call from a polite call centre operator stating that ... ...cash bank transfer from my Vanquis Card to my bank account in the meantime. I declined this offer and advised it would be silly when you cannot confirm my credit limit. I also declined there offer off the payment protection plan as I intended to pay the balance of every month.
One week after my initial application I received a copy of the credit agreement and a welcome leaflet. I had been offered a credit limit of £250 at a purchase ... more
I’m embarrassed to admit that in 2005, my credit file was well and truly dragged through the mud following the break-up of my long term relationship and a sale of our home. Added to this, from Nov 05’ through to Aug 09’ I was working outside of the UK for a Bahrain based airline.
Upon my return the UK this summer, I needed a credit account to rebuild my credit rating, and as with most people, pay for goods and services online etc (the world seems increasingly difficult to survive in without a amex/visa or mastercard)
I was declined my UK current account provider Natwest to my astonishment, considering I’ve maintained a full service current account with them since 2004, without ever incurring charges. And then declined by Capital One.
I found an advert for Vanquis Bank on money supermarket.com, and read some really awful reviews about them, and gut wrenching APR’s, but stuck in a rut I took the plunge eye’s wide open. I applied on line at www.vanquis.co.uk and filled out the online application with took about 4/5mins. The website as of Aug 09’ was advertising typical APR of 39.9%
3 days later I received a phone call from a polite call centre operator stating that they needed to confirm a few more details, she confirmed that my application has been accepted. Great! Only she was unable to confirm my APR over the phone or my credit limit, very funny I thought! “this would be confirmed by post“. Then strangely, she offered a cash bank transfer from my Vanquis Card to my bank account in the meantime. I declined this offer and advised it would be silly when you cannot confirm my credit limit. I also declined there offer off the payment protection plan as I intended to pay the balance of every month.
One week after my initial application I received a copy of the credit agreement and a welcome leaflet. I had been offered a credit limit of £250 at a purchase APR of 34.080% cash advance of APR of 41.200%. At this point I felt very glad I had NOT requested a cash advance!
3 days afterward I received the pin number for the card, yet I had to wait another 7 days for the card itself to arrive. I bit slow, however it came after chasing them up on the phone.
The Vanquis Card is essentially the same as any other credit card other than its sub-prime, and the contract T&C’s look like they’ve been written by Ebenezer Scrooge himself. I’ve now had the card for 4 months, long enough to have formed my first impressions.
There monthly statements are clear and concise, so far I’ve only spent a nominal amount every month and have always paid back the full amount so now I have the full 56 days interest free credit. I choose the repay the balance over the phone using there automated system which is surprisingly efficient considering the time it took to receive the card. It takes 2/3 working days for the payment to be allocated to my account using this method, and shows up on my current account as Vanquis Bank (London) the following day.
My advice, umm (sighs) if your like me and applied for this card with the sole purpose of putting some good payment history track on your credit report file its fine as long as you pay in FULL.
If you need this card to survive steer well clear! A more suitable alternative would be to look at your local county council website, and look up in there A-Z index Credit Union. A far better way of obtaining small loans, which wouldn’t normally be considered by the major high street institutions.
Finally be warned!! I’ve paid my statements of in full each month, however if I had chosen to repay the minimum repayment on my last balance of £190.79, the minimum repayment would have been £8.00, however the estimated interest charge would have been £8!!! You do the maths, you would never repay any of the capital borrowed.
Advantages: May approve you for credit when others won't Disadvantages: There are the most evil Sub-Prime credit card in the country - AVOID!!!
Vanquis Bank are absolutely horrendous. Myself and my other half are with Vanquis customers. My OH has been with them for 2 years, applied for the card when he still had some defaults and a CCJ outstanding on his credit report, they gave him a £250 limit and a 59.9% APR. Fine for building credit, we made sure to pay off the balance in full each month to prevent interest being charged, which was good for a short time. Then came the lies, his credit ... ...a £500 limit. So Vanquis has helped him get a better credit score, but he's stuck with them now because other lenders are being stingy with credit limits. I myself have just become a customer of Vanquis as I've just been discharged from Bankruptcy, they gave me £250 with 39.9% APR, but with what's happened to him I'll be closing the account in favour of an Aqua card which I have been approved for. AVOID THEM. TRY FOR AQUA or CAPITAL ONE CLASSIC INSTEAD!!! ...
izools 12.08.2009
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Ciao members have rated this review on average: very helpful Review of Vanquis Credit Card
Advantages: Convenient, Accessible to those with poor credit rating Disadvantages: High interest rate and heavy debt collecting if you default
...the level of service that Vanquis offer.
The interest rate on the card is very high at 39.9%, however, Vanquis claim that this will be reduced year on year provided you have maintained a good record with them. As I pay off the full balance each month, I rarely pay any interest, and any that I do pay usually comes in at around £1 per month. A modest amount for the privileges that I am now enjoying again.
I would say that if you only plan to pay ... ...speak to an advisor.
Vanquis are generally very friendly, that is, until you miss a payment.
I missed one payment, purely because I forgot to pay it, and ended up receiving multiple phone calls (7 in one day!) from them chasing for payment, and also a number of letters in the post. However, this situation was soon rectified after I sent them the payment as promised.
In summing up, I would say that this is an ideal card for those in the same position ...
TheHairyGodmother 15.04.2006 (17.03.2007)
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Ciao members have rated this review on average: very helpful Review of Vanquis Credit Card
Advantages: Gives credit to those who wouldn't otherwise get it. Disadvantages: Very high interest, terrible customer service.
...by my husband!!!!). Vanquis Bank are a company who offers credit to people with a bad credit history (i.e. CCJs, missed payments etc and just no credit history). Anybody who has ever tried to get credit for the first time will know its sometimes very difficult, if you have never had any kind of credit given to you, companies won't take you on, as they don't know if your a risk or not...and so Vanquis offer a "credit score boosting card"...basically ... ...them get by.) Vanquis will give you this card, but at a VERY high interest rate, around 45% interest...this is to make them money, and to cover their backs money wise should you have any late payments in the future. When we got the card through the post we were told we had a £300 limit, and that it would improve over time as we paid off the £300 once it had been spent, although at first we said the card would be for emergencies, it started been used ...
stephbond89 14.06.2009
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Ciao members have rated this review on average: very helpful Review of Vanquis Credit Card
...The Credit Card is issued Vanquis Bank Limited. Sounds very posh does'nt it. The leaflet told you very little about the credit card except that it told you it had an excellent customer contact centre. I was quite intrigued by the leaflet and decided to find out a bit more.
The Vanquis Credit Card is a Visa Card so at first I thought so far so good. The more I read the leaflet the more I got the feeling that there was something wrong. Then all of ... ...my old friend Provident. Vanquis Bank Limited is a subsidary company of Provident. However if they offer you a hundred pound credit limit they can charge you 58.5% with a £10 a year charge, whilst the Classic and the elctron card can be between £10 and £19 a year charge.
For those who do not know who are Provident are, here is the low down. They give people vouchers for stores and you pay them weekly by a collector coming to your house each week ...
BUBBLES171 07.03.2004
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Ciao members have rated this review on average: very helpful Review of Vanquis Credit Card
Advantages: Everyone can get it Disadvantages: Sky high APR, annunal fee
...it is in order!
Vanquis card is one of those 'high risks' cards offered by a number of companies. As they are for people with higher than normal chance of not paying up, they are priced accordingly. Some examples are Capital one and Monument Visa from HSBC.
I got a mail from Vanquis back in 2005 when they are trailing this credit card in Scotland. It promise a card for someone like me, who have poor/no credit history. I applied for, and got approved ... ...banks for a card. But Vanquis promise to help me built up my credit history, which they did. They will report to the main credit reference agencies every month on your 'performance'. After a short 3 months with them, I have enough of a history to get approved by amazon.
Their call centres are usually very good, and I never had a problem with them. However common to most call centres, you have to first navigate through a number of voice prompts before ...
alvinlwh 14.04.2007
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Ciao members have rated this review on average: very helpful Review of Vanquis Credit Card
Competitiveness of APR
Product package
Quality of Customer Ser...
Reward Scheme
Additional Charges
Security and Privacy
Ease of Application
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Advantages: No problems if you have a bad credit history, friendly staff. Disadvantages: Pounce on you if you go a penny over your limit, high interest rate.
So I have one of the worst credit histories you can imagine. Mainly down to my rather dubious behaviour with credit when I was at university. So I have been suffering with it ever since, even though it's all cleared off now.
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Advantages: Fair APR, Amazon points Disadvantages: No further offers after introduction offer, difficult to set up internet account
The Amazon.co.uk creditcard is my real true creditcard (I got a Vanquis one with only £250 before), and I got it during my student days; that is before I had any real income or job. I just filled out the application to 'try my luck', and I was told online that I had been approved for a £1700 credit limit! So that is how students get into deep debts.
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My experience with Capital One has been really good till now. I did not have a creditcard and no credit score/rating in UK to assist me to fetch one. After being a secondary card holder for a while, I applied through my Bank for a CreditCard. But it was refused on the grounds that was NEVER revealed to me. Eventhough I tried to get in touch with the credit agencies to know the reason...but I was not convinced with their explanations.
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