Beware Of Vanquis Credit Card

[surprise]

They refunded without any problems it was the interest being frozen that was the problem. My balance was just over £700.00. They would only probably accept the minimum payment without hassle. I suspect if you offered below that they would pass the debt on. Yes they had registered a default, however, the default was invalid as they had backdated it and I kept the envelop with the postmark on it so they hadn't given me the required 14 days notice. This was another thing I had them on. I copied the envelop to them as proof. They removed the default.

 

The charges was relatively easy to claim back it was the rest that was the hassle. You may have to keep plugging away at them.

 

Good luck.

[Missy06]

They refunded without any problems it was the interest being frozen that was the problem. My balance was just over £700.00. They would only probably accept the minimum payment without hassle. I suspect if you offered below that they would pass the debt on. Yes they had registered a default, however, the default was invalid as they had backdated it and I kept the envelop with the postmark on it so they hadn't given me the required 14 days notice. This was another thing I had them on. I copied the envelop to them as proof. They removed the default.

 

The charges was relatively easy to claim back it was the rest that was the hassle. You may have to keep plugging away at them.

 

Good luck.

 

Surprise thanks for that.

 

However, I don't get the 14 day notice part of your response in regard to the default:(.......could you please shed some more light on this for me?

 

Thx!

[surprise]

For a default notice to be valid they have to give you 14 clear days to remedy the situation. Vaquish back dated the notice which indicated the 14 days but it wasn't posted until 7 days after they had dated it. Also for a default notice to be valid it has to be a true amount with no charges.

[Missy06]

Really! I didn't know that!!

 

Better get a copy of my latest credit file sent to me and see who's put a default on my accounts;).......and see how to move on!

 

Thanks for that.

Edited February 22, 2009 by Missy06

[welshgirl1]

Dear all

 

i'm completely new to all of this forum business but thought I'd ask some advice on my Vanquis problem. I got into some financial difficulties before Christmas with them and immediately phoned them up (before defaulting!) and explained the situation. I asked them to reduce or freeze the interest to give me an opportunity to pay the actual debt off instead of just the interest. I was, at that time, paying £100 per month off the card on a £1500 limit. I stupidly didn't realise quite how much of my payment was going on the interest (£60 per month) and quickly realised that it would take years to pay this off. They refused point blank to reduce the interest or help in any way shape or form because I said that I would continue to pay £100 a month if they could reduce interest. Paying that amount would be very difficult but if it was paying off the debt then I thought it would be worth it in the long run. I argued with them for a couple of months and finally defaulted just before Christmas and told them to take me to court - at least the interest would be frozen then. For the next three months I was getting between 5 and 10 phone calls a day, sometimes more. I stuck to my guns for nearly three months but then I managed to borrow the £1500 from family to pay them off - thinking to myself that this would be the best way (though also annoyed that I couldn't show them up in court for harrassment and unreasonable behaviour). on the 2nd March 09 I spoke to James (Team Number 726) and paid the whole £1485.89 off (I had asked him what the current balance was before paying it by debit card over the phone). He confirmed to me that this would close my account immediately and I would not have to pay another penny! I hadn't used my account for months so I knew there were no extra bills to add on. thank god I thought, peace and quiet!

 

Imagine my surprise when I received a bill today (19th March) for £20.57.

 

As I paid in full on the 2nd March I can't understand what this interest is for. I've had enough of this lot now and phoned them up earlier and told them in no uncertain terms that there was no way I was paying them this £20 and I was going to contact BBC, The Ferret, X-Ray - whoever will listen. They couldn't care less! I could do with some advice guy's if you can help me.

 

Thanks

[surprise]

Have you got any charges on the account that you can claim back, if so, I would certainly go about trying to get these back.

[havinastella]

Hi Welshgirl,

 

First you need to start your own thread.

 

Second, Send Vanquis the sar

 

Use and adapt this one

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/118145-sar-ppi.html

 

 

 

Jogs

[TEUNTJE]

Hello Team,

 

I thought i would just post this on here for people to see about the Vanquis Credit Card. I found a leaflet in a Cafe yesterday and was shocked to see how much their basic Credut Card interest is. Their website says 39.9% APR . .. The leaflet said 49.9% APR with a £2000 credit limit. This sort of thing should be stopped right now. Here is a snippet from their website about being responsible:

 

Vanquis Bank is a responsible lender and we provide our customers with support, education and help in controlling their spending. We do this by being transparent about our products and pricing, and providing high levels of customer service. Vanquis Bank is part of Provident Financial plc, a leading international company providing financial products to thousands of people across the world.

Vanquis Visa card is issued by Vanquis Bank Limited whose registered office is at Colonnade, Sunbridge Road, Bradford BD1 2LQ. Registered Number 2558509 England.

 

I love the bit about Educating customers and help in controlling their spending.

A Responsible Lender. If anyone has one of these cards please let me know how you sleep at night, because this to me, is extortion and they should be pulled up about it. Grrrrrrrrrr Grinds teeth in disgust . .

 

Go get em ..... ukaviator...

 

BEWARE OF VANQUIS BIGGEST MISTAKE I HAVE EVER MADE BEEN PAYING FOR MONTHS BALANCE HAS NOT GONE DOWN INFACT ITS GOING UP AND UP TRIED TO SPEAK TO SOMEONE ON PHONE AND SHE WAS VERY RUDE TO ME. KEEP CHARGING ME FOR LATE PAYMENTS WHEN THEY ARE NOT SENDING STATEMENT TO ME, BEWARE

[TEUNTJE]

They Have Certainley Stiched Me Up

[TEUNTJE]

I Am Having The Same Problem With Vanquis I Have Been Paying For Months And The Balance Is Going Up And Up

[ukaviator]

Are there charges going onto the account as well?

[ajp101]

Do not touch Vanquis with a very long bargepole. Had a card with them for about 8 months (due to poor credit rating)at and APR of 39.9%. Last month received and unrequested 'gold card' and 1/3rd credit increase to £1500 (which I haven't touched). This month's statement comes with a note on the 'notice board' informing me that the interest is going up to a whopping 59.95% in 50 days time! Fortunately I'm in a position that I'll be able to clear my balance in a couple of months, about £800 owed in total. AVOID VANQUIS LIKE THE PLAGUE - LISCENSED LOAN SHARKS.

[lillyb]

Hi all,

 

I have a Vanquis card - basically up until 2 years ago i was obtianing credit like crazy and using one credit card to pay off the next - however, i am now paying off all of my creditors.

 

I have to say from a debtor point of view Vanquis are nightmares!!! I owed the HSBC £6,000 I rang them said I was in trouble and couldnt meet my paymnets anymore asked if i could reduce them - they reduced them from about £300 to £150 - Vanquis havent been understanding at all - Im not asking for sympathy from these people all im asking is that they help me to get myself out of this mess - I asked them to stop adding interest - all my other cards including a store card did but Vanquis refused. The interest has been more than I am paying.

 

They ring me on a weekly basis saying they havent received payments when they have and attempting to scare me into paying them money I dont have - they keep putting me on payment arrangements then changing the date the payment is due which means i pay late, this makes the agreement void and i end up being charged.

 

PLEASE DO NOT USE THESE [edit]!!!! THEY ARE NOTHING BUT TROUBLE!!!

 

I hope my story will save a few people a lot of money especially in the current climate. Like I said im not asking for sympathy I no Ive been stupid all I asked was to pay a bit less so that I had equal going in and coming out of my account per month and work my way out of debt but Vanquis have done nothing to help - they claim to be a considerate and caring lender - that is absolute rubbish!!

Edited August 8, 2009 by steven4064
potentially libellous word removed

[steven4064]

Hi lillyb

 

Welcome to CAG. If Vanquis are adding charges for late payment, those are unlawful and you can claim them back

 

Start your own thread and there will be plenty of help

[izools]

I definitely think Vanquis have a place in the market, whilst I also conceed that their company is an appauling shower of preverbial.

 

I was discharged from my Bankruptcy in March of this year, and where I was unable to obtain a Capital One Classic, Aqua Mastercard, or Monment Card, I was able to obtain a Vanquis card at the typical 39.9% APR no more.

 

I am using the Vanquis card to build positive repayment history, clearning the balance in full every month. With their help my Experian score has risen by over 100 points since I opened the account at the beginning of May. Very helpful.

 

However I now know never ever to use them if I want to repay something over a longer period as my OH also has a Vanquis card. He was given a £250 credit limit with a 59.9% at the end of 2007, outstanding defaults and CCJs all over the shop.

 

Over the last two years he has worked hard to clear all the other arrears, CCJs, and all the defaults from other creditors, bar one default which is still outstanding, taking a little while to clear.

 

During these two years he has run the Vanquis account admirably, they increased the credit limit to £2,000, sent out a "Gold" card and advised that they would be reducing the APR to 29.9% variable.

 

He used the card to make some large purchases and has been paying off big chuncks of the £1,750 balance, about £150 to £400 a month for the last couple of months.

 

At the beginning of August they increased the APR on his account to 69.9% APR.

 

Now although his credit score is significantly better than it was two years ago, the one last default with an outstanding balance is preventing him from transferring the balance elsewhere, and Vanquis know this.

 

I've written to them, very clearly stating regulations that they have breached, not providing an option to opt out, etc. The complaint is nearing the eight-week timeout and I can see this having to go to the Financial Ombudsman Service to get the supurflous interest refunded.

 

Obviously he has to keep paying, because any non payment would ruin his credit score and we want to keep the possibility of getting the balance transferred away from Vanquis as high as possible.

 

Currently the balance is £1,170 and the estimated interest next month is almost £60. He can afford to pay £150 a month and is doing so.

 

I won't rest until I have seen a huge reduction in APR along with a sizeable refund in light of the overcharged interest so far.

 

And no, he has never missed a payment, never been overlimit, and always paid over and above the minimum due.

 

So, Vanquis are great if you want a way to build positive credit history but only go with them if you are prepared to have a DD set up for the full amount until your credit score is good enough to go elsewhere because you will get burned!!!

[randee]

I am a recent graduate and have always used debit cards, always stayed in Credit (apart from once and got stung) so never needed a credit card...

 

However as I don't have a credit score, I cant get what I want... which is a cash back card (0.5/1%)... Make something out of the banks...

 

So I just got a Vanquis card. Which is fine as I have a direct debit to clear the total account each month.

 

I will kill the card as soon as the first cash back credit card accepts me.

-----------------

(Sorry if this has already been said)

 

However, if you owe money to Vanquis... then get out a personal loan (if you can) Or any other borrowing that offers you a lower rate of interest. May be 15-20% apr but its generally still possible.

 

Loan sharks (just within the law) offer 30% APR... They offer to 'sub-prime' like me with no credit history or bad histories.

 

So move your money around to the cheapest APR deal, credit cards are always the last place to leave your self in the red.

 

If everyone did this and made loan sharks compete for your money, then APR would have to reduce! Dont think that just because your with Vanquis you cant just get a loan to pay it off... (Speek to a inderpendant loan/dept adviser first!)

 

But its always bad to be in the red as you lose a big chunk of your money to interest regardless what you do...

Regards,

Randee

[izools]

I am a recent graduate and have always used debit cards, always stayed in Credit (apart from once and got stung) so never needed a credit card...

 

However as I don't have a credit score, I cant get what I want... which is a cash back card (0.5/1%)... Make something out of the banks...

 

So I just got a Vanquis card. Which is fine as I have a direct debit to clear the total account each month.

 

I will kill the card as soon as the first cash back credit card accepts me.

-----------------

(Sorry if this has already been said)

 

However, if you owe money to Vanquis... then get out a personal loan (if you can) Or any other borrowing that offers you a lower rate of interest. May be 15-20% apr but its generally still possible.

 

Loan sharks (just within the law) offer 30% APR... They offer to 'sub-prime' like me with no credit history or bad histories.

 

So move your money around to the cheapest APR deal, credit cards are always the last place to leave your self in the red.

 

If everyone did this and made loan sharks compete for your money, then APR would have to reduce! Dont think that just because your with Vanquis you cant just get a loan to pay it off... (Speek to a inderpendant loan/dept adviser first!)

 

But its always bad to be in the red as you lose a big chunk of your money to interest regardless what you do...

Regards,

Randee

 

Thanks Randee.

 

Unfortunately as my OH still has one outstanding default getting credit from elsewhere is nigh on impossible.

 

Black Horse recently said NO to a Personal Loan, Capital One said YES but not with a big enough limit to transfer the balance, and Aqua Card said NO.

 

That's three credit searches in six months so we'll give it a rest for now until there have been no searches in six months.

 

That's another important tip to note also Randee - NEVER apply for credit more than twice in any six month period or your credit score will be seriously damaged. It can be more than halved with excessive applications.

 

Anyway, I hope someone can provide some tips for dealing with Vanquis and getting the APR down / interest refunded!!

[randee]

Thanks Randee.

 

Unfortunately as my OH still has one outstanding default getting credit from elsewhere is nigh on impossible.

 

Black Horse recently said NO to a Personal Loan, Capital One said YES but not with a big enough limit to transfer the balance, and Aqua Card said NO.

 

That's three credit searches in six months so we'll give it a rest for now until there have been no searches in six months.

 

That's another important tip to note also Randee - NEVER apply for credit more than twice in any six month period or your credit score will be seriously damaged. It can be more than halved with excessive applications.

 

Anyway, I hope someone can provide some tips for dealing with Vanquis and getting the APR down / interest refunded!!

 

Never forget about the organisations out their to help you, for free!

 

http://www.nationaldebtline.co.uk/

http://www.cccs.co.uk/

 

And possibly the best: http://www.adviceguide.org.uk/ (Citizens Advice Bureau)

 

When you run out of ideas, theirs charities out their that really help.

 

All those sites are good places to go... They know the government laws inside out intended to protect those being exploited by banks... (Maybe here you can get the APR reduced on the Vanquis credit card?)

 

I wish you the best... just have to work at it.

 

Edit: I discovered this which may be of interest: http://forums.moneysavingexpert.com/showthread.html?t=1960685

The government is investigating APR and how transparent Banks are with it... Not exactly what you were asking for but a step in the right direction? It asks to post your stories.

 

Edit'2': I been looking into free credit reports and found this,

 

30 day free trial!

Reason to take this is simple... its good house keeping (for your credit score) and you may find a mistake and get it corrected to improve your credit score...

(Ref/Guide: http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1101485056,23650,)

Edited September 24, 2009 by randee

[xantantian]

hi just wanted to say that i HAVE a vanquis credit card and i am really happy with it, yes i know the interest on it is excessive but it has helped me gain a better financial footing, last year i had a zero credit score, now i have a score of 85. they dont just give you £2000 and let you get on with it like you may think. I was started at £250 and through being more aware i was increased to £500. it has meant i have been able to apply for a mortgage and get accepted. just because the rates are high doesnt mean that they are robbing people it just means they are giving people a chance to improve their finances whilst covering their backs

[izools]

hi just wanted to say that i HAVE a vanquis credit card and i am really happy with it, yes i know the interest on it is excessive but it has helped me gain a better financial footing, last year i had a zero credit score, now i have a score of 85. they dont just give you £2000 and let you get on with it like you may think. I was started at £250 and through being more aware i was increased to £500. it has meant i have been able to apply for a mortgage and get accepted. just because the rates are high doesnt mean that they are robbing people it just means they are giving people a chance to improve their finances whilst covering their backs

 

Credit score of 85? I presume that is a typo?

 

I have a credit score of 450 and I have only just been discharged from bankruptcy. Anything under 560 is considered "Very Poor"

 

I think you might want to check that.

 

Also if you have been approved for a mortgage, and your credit score is now acceptable, you should close your vanquis account and open a credit card account with a respectable card company.

 

Vanquis will keep increasing your limit and offer lower APRs and "Upgrade" you to "Gold Status", earning your trust and respect, so you go out and make a large purchase because they offer you a lower apr, and BANG! They increase the APR exponentially and you are paying nearly £100 a month in interest alone.

 

I've had first hand experience of this with my OH, who was started on £250. Credit limit increases and APR decreases kept coming and coming until it looked like a good deal, so he spent a bit, and WHAP! 69.9% APR thank you sir!

 

Like I say, play with fire you will get burned, make sure you have a DD set up to pay the full balance on your Vanquis card until you get a better deal elsewhere.

 

Oh, and CONGRATULATIONS ON THE MORTGAGE! GOOD LUCK! :)

[BenJames00]

Liking this group - I have a Vanquis card with £1000 limit at the moment. When I got it, I was young with no money and they offered a £300 limit. As I made my payments on time, they increase it a few times - Due to this card, I am slightly older, with less money than I would have without it!

 

I've read somewhere here that you can claim back any late charges/over limit charges, and wondered if someone could advise me;

 

1) why this is, surely if you agree to it in the first place, they are within their rights to take the charges (not that I'm happy about it now!)

 

2) the best way to go about making the claim.

 

Any help would be much appreciated, I'm useless when it comes to this sort of thing...

[redcelt]

Im in the same position as hockery but the difference is that I owe over £1500 to them & Im struggling to just keep up with the interest payments it got out of hand because my account details changed & forgot to amend my direct debit therefore missing a couple of payments Ireally cant see any light at the end of this tunnel

[elliott56]

I was late paying Januarys payment and they keep calling me at my employers office on a number EVEN I DO NOT KNOW and have NEVER given them therefore. ONCE I used that telephone to use Vanquis automated service and they must have stored it somehow. Surely that is a breach of Data Protection???

Anyone know?

[letsgetitsorted]

i have a card with vanquis and, due to the high interest rate i havent been able to even hit into the balance, just keep getting charges.

so in december i sent off a request for my CCA and so far this has not been received, so sent a letter putting the account into dispute and still no CCA, no stopped the direct debits.

[r13dler]

I have a different problem; I pay off my Vanquis account each month and this month I topped it up with an extra £300 so I could pay for my car insurance, now they have “BLOCKED MY CARD”. I now have to call them Monday and pay them 7p a minute to find out what their problem is with me giving them my money. I have no debts and no credit rating as I always got by using cash. When I took their card they said there would be no charges if I paid off what I used each month, THIS IS A LIE, for every £100 you spend they charge about 1.5% under the name “payment option plan” each month so, if you spend £200 a month and always pay it back, for that £200 they get AN EXTRA £36 a year which equates to 18% !!! far from “no charges”. I also asked can I pay up front and spend my money that way, the first of their staff said “yes” and later a second said “I do not think so” I think I have now had that question answered, it is a shame it cost me £300 plus their sneaky “payment option plan”.

IF YOU CAN NOT AFFORD IT WHAT MAKES YOU THINK THAT IN A MONTHS TIME, YOU CAN AFFORD IT PLUS 40%?