I am a 22 Year Old Male student from Derry, N.Ireland. I am a fun person to be arround and that's ho...
I am a 22 Year Old Male student from Derry, N.Ireland. I am a fun person to be arround and that's how I like most things to be (FUN) !
Member since:28.02.2001
Reviews:9
When talked into taking this card I also got roped into their Repayment Option Plan. This is a big no no if you plan to pay or can only afford the minuim back every month as your balance will never go down. Strange but true as I have noticed first hand that instead of shrinking my balance grows by roughly £2.00 every month. I think you can cancel this plan anytime which I plan on doing along with the card.
There is other ways to repair bad credit. This card is not one of them in my opinion. There is plenty of stories about them upping the credit limit but not very many on them lowering the interest rates. Vanquis parent company Provident Financial is famed for horror stories but one of Vanquis's good points is their intrest rate is lower than Provident's.
If possible shop arround for credit cards or better yet try a Pre-paid Debit Card. I recommend Paypal's as you can avoid top fees if topped up via your bank account on their site. Of course other cards are available but they all charge for topping up along with the Paypal card if topped up at a Pay Point (£1). Also paypal's has a chip and pin and is issued by The Royal Bank of Scotland. You have to pay for the cards however no credit check is required.
How helpful would this review be to a person making a buying decision? Rating guidelines
Any credit card is a good credit builder. Use it properly (i.e. pay it off in full EVERY month) and it won't cost you a penny, defers payment for a while and builds up a good credit report.
The reason Vanquis have high APR's is because they lend to people with a bad (or no, i.e. me) credit rating which is riskier. If you want a decent APR, no sub-prime card will be suitable for you.
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.
kinetix63 29.03.2007 ·
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Review of Aqua CreditCard
Mar 10th, 2009
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