Beware Of Vanquis Credit Card

[Last of the Mohicans]

You want to give it *at least* 6 - 7 working days to clear in order to get no interest charge. Try and budget from the 10th to the 9th of each month, and pay on the 9th by debit card - that way you'll be getting the benefit of the £100 "float" with no charges. If you go down to the wire on paying, you run the risk of missing the payment and getting lumped with interest.

[assisted blonde]

Dont pay by DD pay over the phone and speak to an advisor, get the transaction number, it usually appears oon your account within 2 or 3 days, that way you only pay what you have, the trouble with DD is that you could have a short month and want to pay less than the full balance by paying over the phone you keep the control with you.

Also Vanquis are no better or worse than any other card company if you run your account properly, yes the interest rate is high but if you can afford to pay it all off there is no interest and if you dont it isnt very much on a small credit limit for a month or so.

[dancer38]

Hi, I don't know if anyone can help me but;

I have had a vanquis card for 4 years, starting off with the original 250 balance and finishing with over 2000. I never went over 800 and always paid back more than my minimum amount. However about 4/5 moths ago vanquis didn't take my DD. I didn't notice I know this is awful, but I was very ill and 8 months pregnant and still teachin full time, this happened a 2nd month and I received an impact collection letter. Having rung them - told that I had to repay my whole total which was now over 1000 pounds or it would go on my credit rating. I couldn't do this and agreed to pay in instalments. I pay the first instalmet, Money has gone from my account and I assume all okay. When I get my next statement it still has the same total??

Having today recieved another Imapct letter, telling me they are going to recover the balance as I have not paid again - I have ust checked and the DD has not gone out this month.

Can they do this, and what rights do I have about payments as they are now saying that I have to pay 200 pounds immediately - I can not pay this as I am oon SMP at moment ?

Thanks in advance for any advice.

[thedobla05]

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...

thank you for this info it stopped me making a big mistake.x thedobla05 Edited August 20, 2012 by thedobla05
forgot to put in my user name

[arthur256]

As indicated some way back in this thread, Vanquis Credit Card and "Valuesaver" seem incapable of complying with the Consumer Protection Regulations - which allow a continuous card payment authority to be cancelled by notifying the bank (card issuer).

 

They rely on repeating the initial £6.95pm debit, even when cancelled, and charge interest and other fees on this - unless one pays it all off in full, every month. They have charged me for ten months even though cancelled by phone and letter, in the second month!

 

After many months of chasing them in writing without any success, I have now reported Vanquis Bankc/o Provident Financial Group (at the Registered Office) via the (Police) Action Fraud website, and also initiated a claim in Northampton County Court for return of what they charged plus an element of compensation for distress and costs.

 

What effect this has we will see...!

[42man]

Good luck Arthur...please keep us posted on the outcome.

[Old Cogger]

look at this may help?

Some customers their right to cancel recurring payments.doc

[arthur256]

Thanks for copy. The problem is that Vanquis Bank is blatantly ignoring these new rules. Since I submitted a Fraud report to the Police and initiated a County Court claim, Vanquis Bank has started harassment by phone, several times a day even though I have refused to speak to them and insisted on all communications being in writing. I am logging these calls where I am aware of them, and will pass details to the Court in due course.

 

--

Arthur

[Old Cogger]

Vanquis also are trying a new ploy to get people to respond to telephone calls i..e., you 1471 a number containing your local area code comes up but the next part a case reported to me started with 4 stc, who calls state it is Vanquis Bank, so Peeps be aware of the ploy to make you think local person calling you.

[Bjbez69]

Ok guys-yes, the interest rate is terrible, however I have really bad credit history, but due to a new job I had to get my hands on a credit card to pay for fuel. I claim this fuel back monthly, so basically I clear my balance immediately and pay zero interest! Therefor it is perfect for me with my credit history, ie low credit limit, so not likely to rack up major debts (again) and having learned the hard way I only use it for business fuel and pay off in full before interest is

added. Yes it's baaaaad if you are accruing interest, buts it's good if you are rebuilding credit-use it as a tool to help and it ain't that bad folks

[arthur256]

Update on legal action against Vanquis Card...

 

Since submitting a County Court claim for return of unauthorized debits (to Valuesaver), plus interest and associated costs, Vanquis has (only just in time!) made a full credit of 11 times £6.95, i.e. all the unauthorized debits - but refunded nothing of the interest and associated costs they debited over the past 11 months. I will pursue these items, along with compensation for their harassment (over 30 phone calls since I began the legal action). Can anybody please advise how much is reasonable to claim for harassment of this sort?

 

I will be reducing my claim by the amount refunded, and will advise further when the Court case ends.

 

I have also now advised Action Fraud that they have made a partial refund.

 

--

Arthur

[42man]

Are you aware of Link vs Harrison case ? you may find this very useful indeed....

[arthur256]

Thank you. As it happens, I too have a problem with Link (unenforceable at present), relating to an invalid assigment, but this information, particularly para 83 of the Judgment is very interesting.

 

--

Arthur

[agger05]

Hi, just came across this thread and wonder if someone can help me. I've had previous trouble with credit management in the past (credit cards etc), but also managed other debts well (personal loan etc). I was looking to apply for a card for bad history, and wondered if anyone can say whether I have a good chance of being approved for a Vanquis card based on my criteria below? Thanks in advance.

• Based on experian, I have had a credit score of 913 (Good) for the past 4 months.
  
• I have 3 CCJs on my record. The first was ordered on 20/06/2010, and was satisfied on 15/02/2012. The second was ordered on 10/02/2011 and was satisfied on 18/04/2011. The third was ordered on 19/09/2011 and was satisfied on 21/02/2012. All are cleared and marked as satisfied on my records.
  
• For the electoral roll, I confirmed to the council I was living at a new address in June 2012. This will be reflected on Experian on 16th October 2012, when the council run their Register updates for everyone.
  
• I have 1 credit card status marked as default on my report, but the balance is satisfied - last updated with zero balance and closed on 04/12/2011.
  
• My HSBC bank account has excellent scoring, with frequent income going in (my salary is 5k NET pcm). I have no overdraft facility.
  
• I have no recent credit searches on my record. My last search for credit was around 4-5 years ago.
  
• I was a homeowner and sold my property 4 months ago. I had been paying my mortgage on time for the past 12 months before selling.
  
• Number of missed or late payments in the last year is 1.
  
• Number of accounts overdue is 0.
  
• Amount of outstanding debt is £0 - I have no mortgage, credit cards, personal loans etc.
  
• I have savings (bank saving account & ISA) of 6k - though I understand credit applications do not look at this?
  

[assisted blonde]

All you can do is ask, 1 application wont really affect your current credit score and TBH when i applied for a Vanquis card my history was a lot worse than yours, IMO you would have a good chance of obtaining a card, however it may be worth trying your bank 1st

[agger05]

Hi - thanks for your reply. I was thinking my bank to try first, and have spoken to them already about a credit card through them. They can see by my current account that it's spotless and I am more than eligible to put an application through for their credit card, but I'm wary the application will also speak to the global credit report (experian) and will see my CCJs and 1 missed payment in the last 12 months.

 

And I'm guessing HSBC credit cards are one of the harder cards to obtain?

Edited October 18, 2012 by agger05

[assisted blonde]

All I can say is HSBC gave my OH a credit card and a loan although he hadnt been a discharged bankrupt for 6 years so that would still show along with a few other things, they also gave me a credit card recently but they wont give my OH an overdraft for 5 days on our account although our credit rating with them is excellent, there is between 3.5 and 4k going into the account every month etcb etc so I can only assume that their credit cards are easier to get than an overdraft, give it a go and if you can go into a branch and deal with them face to face as it seems to have made a difference in our case as what we were told on the phone was not how it worked out when we went in.

[snout1971]

Hi all

 

i am new to this site, be gentle with me

 

i have just this minute came off the phone with vanquis card ppl saying i have been accepted. i applied for an argos card, obviously i got declined and they have transferred it to vanquis.

 

the only reason i have applied is cause i am currently unemployed due to my wife going through cancer treatment, have been unemployed for nearly a year now and xmas coming up i needed help. i also have account with provident, as does my wife. now i know that if i borrow say £1,000 then i ed up paying provident back nearly double what i borrowed over the course of a year

 

if i buy something on my vanquis card say £100 and pay over the course of a year does that mean i end up paying them back £100 + 39% interest??? =£140

 

or do credit cards not work this way?

someone also mentioned that they get charged £25 for something from vanquis too? whats that for?

 

any help would be a great help

 

thanks

[daniluvsuall]

Hi Everyone,

 

I'm new to the forum, hell I even registered to post what I have to say about Vanquis bank and there related services.

 

Firstly, I'd like to think my *credit* (You'll see why I place that in stars in a minute) is good - a few phone contracts, all paid up front when I was 18-19 or so never overdrawn in my bank (although I have moved banks a few times) but I stupidly moved house and forgot about a water bill, landing me a CCJ for a relatively small £500 of which I was unable to clear from my file as I wasn't even aware of it until 9-10 months after it had been issued.

 

So, I'm (at the time) 21 and have a CCJ.. no where is interested in me, I was applying for credit cards/loans (I wanted a nicer car) around 1-2 a week sometimes 3-4 times a day (no one had told me multiple searches make it look bad) and was getting declined left right and centre for absolutley everything including Granite card, Barclay Card Initial, Captial One the whole shebang - now, I'm in a very good position.. I'm 21-22 and earn around £50k pa so I always thought that credit would come to me like tap water but struggled to find anything, along came Vanquis (from my own googling) and offered me a credit card with a £250 limit and either 39.9% APR or 49.9% APR (my memory is bad) and I can honestly say they've been nothing but great towards me, regular increases (up to £1250 now, first £500) and I've either cleared the balance or made 80-90% balance payments so £300-450 at a time.

 

It is REALLY good for what it is, but I'm quite scared by what people say on here with PPI and all that.. my OH is pretty clued up with that stuff so from the outset I declined any cash advances and any kind of PPI so never had a problem. They are NOT loan sharks, the % is NOT there to control your spending it's there to protect there investment on someone they consider to be risky.

 

But all being said, I am very greatful for what they have offered me as no one else wanted my money so they get the pleasure of my business + some interest a couple times when I don't always clear the balance off in full.

 

I've always ALWAYS paid by bank transfer as I prefer to pay my bills this way, For people concerned about payment processing dates and how long it takes to clear it's around 3 working days in your account.. but it comes TIMESTAMPED as a payment on the date that you sent it (so you send on the 3rd, it then SHOWS on the 6th saying you paid on the 3rd) but I could see someone who leaves it a bit close to the line could get caught out. I pay all my bills manually each month (hate the control other companies have over DD's as I don't know how much they will request most of the time) and this suits me well, I've not missed a payment yet.

 

Ideally, I'm looking to move away from them and just got accepted for a Capital One card which is (although not much better) 34.9% APR that I plan to use for fuel and or move to if and when the limit increases on it as this only has a £500 limit on it.

 

They have there place in the market, purely a stepping stone - I pay around £40 a month in interest on a £1,000 balance which I don't think is that bad, and I will be making a £700 payment this month to bring that down.

 

How many people have had this "Gold Card" thing with Vanquis? sounds like a thing they don't do any more, that really scares me as I'm looking at buying a Macbook and wanted to pay it monthly (Barclays once again, not interested in my business) so I'll avoid if there gonna smack me with something like 70% APR.

 

I've heard about the old Provident loans, an old friend of mine had one and I saw the interest rate she was paying so I steered well clear of them although they pale in comparison to Wonga or others.

 

Just my two pence.

[Old Cogger]

your Vanquis may be the 34% rate, as I thought mine was 39% double check but it was 34%?

[Caz1981]

sorry to say this, but by the sound if it you are an employee of vanquis, like me there are hundreds/thousands of people who have a vanquis card and have subscribed to the vanquis nightmare.

interest rate hikes, charges on top of charges but not to mention their so called repayment option plan which is not worth the paper its written on.

 

No offence to anyone but if you know the card has a APR of 39.9% why would you make any massive purchases on it??

 

If you have bad credit that is why you have this card so why would you not try and be a bit more sensible with it and only spend £50 or so a month and pay it straight off until you can get a better card that will allow you to make the bigger purchases with less interest??!

[arthur256]

Update on my dispute with Vanquis Bank (Credit cards):

 

They had refunded the improperly debited Valuesaver payments at the point when they put in a defence. The defence was spurious as they were claiming that interest and other charges were valid, when they had arisen solely because Vanquis had "lost" my direct debit and failed to collect. The Court was going to use mediation, but tried calling me using an anonymous phone number, which resulted in a blocked call!

 

Eventually, with less than a week to the hearing, Vanquis has made an offer (without admission) which will refund all the interest and other charges in full, and covers all my direct costs, and leaves a bit of compensation, so I have told the Court to stay the action.

 

As I understand there are other people putting together an action for harassment, I have dropped that aspect of the MoneyClaimOnline case.

[arthur256]

I can now confirm settlement of this claim in my favour. Vanquis did not pursue the defence of their charges and interest, and instead refunded them in full to the card, as had already happened to the unauthorized Valuesaver debits. They have also made a further payment in lieu of costs and interest, which I consider adequate compensation.

[tduke1]

Hi everyone. I am another newbie to this great forum.

Can anyone tell me how long it takes for a vanquis credit card to improve credit score.

my score (just checked on expirian) is 574 and deemed as poor,which is not bad as last month it was 550 and very poor. Any info will be greatly appreciated.

[assisted blonde]

The card wont actually improve your score, but paying on time and not applying for other cards will and always pay more than the minimum balance