Vanquis Bank and Credit Card

Advantages: Gives credit to those who wouldn't otherwise get it.
Disadvantages: Very high interest, terrible customer service.

...A couple of months ago we made the mistake of getting a credit card "for emergencies", it was meant to be...but as always happens, it was used when it wasn't necessary (mainly 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 they give a credit card with £300 limit on it to people who have never before had a credit card and probably don't know how to use them correctly. (Before you start...I'm not calling everyone with no credit history...

stephbond89 14.06.2009 · Read review
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Review of Vanquis Credit Card

Vanquis Credit Card

Advantages: Convenient, Accessible to those with poor credit rating
Disadvantages: High interest rate and heavy debt collecting if you default

...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 as myself or any others that plan to pay of the full balance each month. If you are only going to pay the minimum payment each month and your balance is £500 you will pay approximately £19 per month in interest charges. Obviously if your credit limit is higher, the interest charged each month will be proportionately higher. In general though, I would recommend this credit card provided you are sensible with it. UPDATE MARCH 07 I thought it was important to add this update to my review on the Vanquis credit card as with this sort of product peoples opinions can change over time. A year since I wrote the original...

TheHairyGodmother 15.04.2006 (17.03.2007) · Read review
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Review of Vanquis Credit Card

A Great 'DEAL' On A Credit Card

Advantages: Clubcard points
Disadvantages: Interest rate which kicks in if you don't pay the full balance monthly

...doesn't reduce the bonus you get, it can delay it. For example, if you rack up 599 points at Tesco and 599 on your Credit Card, you used to get £11.50 in vouchers, with 48 points carried over Now, you would get £5.50 from the Tesco points and £5.50 from the Clubcard (a total of £11) with 49 points carried over on each balance. Not a big difference - you could never lose out more than 98p in any month, and the points are still there, just not converted into vouchers for you at that point in time - but it is something that should be noted. A huge plus from my point of view is that the points are calculated based on spending on the account rather than the balance at the end of the month. Most times these will be near enough the same but I had a recent instance where it mattered more. My internet connection had been playing up for 6 weeks...

zoe_page 06.01.2007 · Read review
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Review of Tesco Credit Card

Tesco Credit Card - Every Little Helps

Advantages: Earn extra Tesco clubcard points.
Disadvantages: Only earns Tesco clubcard points

...get extra points, I save my points and use them to buy the food for my daughters birthday parties and any left go towards treats for Christmas. Alternatively you can use these for Clubcard rewards where they are worth 4 times their value. You only need to give your credit card when purchasing items at Tesco, you do not have to give your clubcard. For online purchase there is a security function for authorising transactions, when you first use your credit card online you are asked to register and you set a password and answer some security questions. When you make online purchases you are asked to give 3 random letters from your password to proceed with the payment. The statements are monthly usually dated around the 22nd and arrive by the 27th and the payment is due around the 11th of the following month. I only use my credit...

dotjay19 07.08.2009 · Read review
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Review of Tesco Credit Card

Some advice on the usage of credit cards.

Advantages: Can be worth while...
Disadvantages: ...but usually isn't

...seems to have many customers that have effectively lived on their cards, some people have credit limits in excess of 15,000 (at the time some of these limits were set 1=$2 so $30,000), which may appear fair enough if the persons a high flying business sort I see no problem with this. Though sadly when their limit is 15,000 and the bank has let them spend 2,000 over their limit I see two problems. Firstly how could an responsible lender allow a customer to spend a substantial amount over their limit? Surely the purpose of a "limit" is to, ahem, "Limit" what the customer could spend on the card? However to blame the bank completely voids the idea of a customer knowing how to wisely use their card, a customer should never spend over their limit. I accept banks allowing customers to do so is wrong, but if the customer wants to know the key...

iamasadlittleboy 29.04.2009 · Read review
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Review of Member Advice on Credit Cards & Loans

Handy Card! (Abbey Zero Credit Card)

Advantages: Zero fees
Disadvantages: High interest, only 3 months free on purchases

...I have had the Abbey Zero credit card for about 2 months now, and have found it to be an absolute necessity. With the massive selling point of having zero charges on transactions abroad, I have been able to save a relatively large amount, useful especially with pound at such lows. How to Apply I found out about the card on a visit to my local branch, and the application process took about a half an hour. Most of this time was taken up by the banking advisor trying to sell me their payment care and insurances, but I found them to be very expensive, so would avoid the questions if you do ever go down! From what I understand you can apply over the internet or on the phone, which may be a bit speedier. I received the pin number within a week, and the card a few days later, which I found to be very efficient. Benefits As I...

bobinder 04.09.2009 · Read review
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Review of Abbey Zero Credit Card

The best credit card around!

Advantages: points
Disadvantages: if you dont pay it off

...Overview ------------ I have had this credit card for around 4 years now. It has always worked perfectly for me. As an avid Tesco fan i trade my points in for deals tokens and enjoy a treat every year. Incentives ------------- 1 point for every £1 spent in Tesco. 1 point for every £4 spent elsewhere. But dont forget with deals tokens you can get 4x the value of your points. These tokens can be used for restaurants, trips, hotels, days out ect. Theres hundreds of activities to choose from and they change some every 3 months. Looks -------- I have a Platinum card which looks great - I think they have stopped doing these cards now which is a shame as my partner wanted one. The normal cards arnt as cool and i wouldnt be as keen to use them i dont think. Paying them back ---------------------- I pay the balance on my card in...

johanna18 21.03.2009 · Read review
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Review of Tesco Credit Card

A Credit Card that Rewards You

Advantages: Cheap, quick, helpful, most people are eligible
Disadvantages: I missed the new deals

...of Tesco credit cards arrived in the post a few days later. The Card The card arrived about ten days after my confirmation letter with a whopping limit of £2,500. I thought this was rather a lot considering it was my first card and my income wasn't that great. The card was purple with a raindrop affect on it, as I had chosen on my original application. It had a large mastercard symbol on the front, as well as the Tesco Finance logo. Interest My standard rate of interest is 15.9%, however I pay 0% interest on any purchases I make within the first year. The standard rate for balance transfers is 10.9% but for the first year its only 6.9% There is a percentage charge for withdrawing cash and writing cheques is very expensive. With all credit cards they can change their interest rates at any time. Use I decided I wasn't going to use...

Jennet1987 17.05.2006 · Read review
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Review of Tesco Credit Card

Cashback Credit Card!

Advantages: Accepted almost everywhere! Cash back scheme, 0% balance transfers
Disadvantages: 15.9% per annum interest charged (if balance carried over)

...I was a loyal Barclaycard customer for years, however as soon as they stopped rewarding Nectar points and abolished any kind of customer loyalty scheme I knew it was time to find myself a better deal! I have to admit I used to play the whole balance transfer game when I'd run up a bit of debt - changing to 0% interest cards and moving my balance about every few months so the debt never cost me anything extra in interest. This was not a fun game to play, but it was worth doing to save myself any interest charges. I managed to clear all of that debt a couple of years back and ever since I've been playing the credit card companies by using their cards to pay for all my monthly expenditure where possible and paying the balance off in full each month. This way my money has been sat in my bank earning me interest whilst I've been using...

longlegz 20.05.2006 · Read review
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Review of Conran Credit Card

Credit Cards: Use or Abuse?

Advantages: Pays On behalf of You in many Emergencies in the shortage of Cash with you .
Disadvantages: if not paid on time : huge interest

...makes buying things or paying for services more affordable. If you look at it, credit cards makes buying things or availing services cheaper than when paying for it in cash. But this "BUY NOW PAY LATER" scheme has caused many credit card holders suffer large debts. People take this convenience for granted and keep on buying things here and there, forgetting how much they will owe the credit card company when it is the time to pay up. The magnitude f the full blown recession in the Unite States is in a way a result of the mounting credit card debt of the Americans. It has been found that more than 40% of the American families spend more than they earn, personal bankruptcies in the US has doubled in last ten years. Most of this is due to the temptation of Plastic Money, Many Americans are seen remarking " I'm Still paying for groceries i...

pratiklalka 22.01.2009 · Read review
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Review of Member Advice on Credit Cards & Loans