Beware Of Vanquis Credit Card

[tduke1]

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

 

Thanks for the reply

I can't believe that!!. They said it would improve my score.

I am very upset as i have been paying the whole balance off monthly for 6 months and could see no improvement in score rating.

[Old Cogger]

waste of time it is a come on unless you have to wait years like any other card but cost you more, they increased interest rates will nilly so they can go to hell.

[tduke1]

Unfortunately i cannot get credit anywhere else so will just have to stick with them for another couple of years

[assisted blonde]

just keep using it for now and eventually you will get another one

[tduke1]

thank you

still upset that it will not improve my credit score as i have ensured that the whole balance is paid monthly and that i am never late with payments. It is so frustrating, especially as i now have the money to pay things off, but no credit to purchase goods just so that i can build up credit score, as i want to apply for a mortgage in 2 years.

[Wingus]

First of all, thank you all for replying, and after reading just a few of your comments, i feel something has to be said. Vanquis, as we by now know, are part of the provident group, basically their credit card division. No major problem there, since provident have been lending money pretty much since before credit cards were normal thing. Provident themselves have been subject to many complaints, and grievances, by many people, and so has almost all credit card companies, basically, any financial institution has always had one complaint or other, that is a fact of life, even they can't please everyone.

 

With all and ANY credit card, how you run your credit card account, is vital. Not only for you, but gives the credit card company a sort of reference to how your account will be run. Of course, all good credit card companies will, or should give some basic advice at the time you open your account, and i am guessing most of us go " yea yea, just give me the card" and almost ignore the small print.

 

Also, at the time of opening your account, or even just applying, you should have done your homework, and you would be fully aware of the interest rate, and that is especially important if there is any mention of the word "variable". By definition, variable means "An element, feature, or factor that is liable to vary or change.", and so by reading one thing on a leaflet, that was printed probably 6 months ago, might not be the same as, for example, the main website of Vanquis, which can be updated almost instantly to reflect current conditions.

 

Doing research and finding out the latest news about any credit card BEFORE you apply is just as important as accepting the terms and conditions. There is no point complaining about interest rates AFTER you signed up, you made that choice, and so it's not the companies fault that you didn't research it. Vanquis are by far NOT the worst ones out there, and ever since these new micro loans came on the scene, i seen interest rates of 4000%+. So 39%, 49%...even 59% seems reasonable to me, especially if your a credit risk in the first place.

 

If anything, Vanquis can help you repair your credit. Yes, i am glad they constantly contact you, even if you go over your limit by 1p, they constantly contact you, borderline harassment, but that is a good thing, some people need that extra kick to get on top of their finances, and i can't fault them for that. If your a credit risk, through no fault of your own, example..no credit history at all, then this could be a nice intro card, just to get your credit history started, and providing you maintain your account well, there should be no problem finding another card at a lower rate in the future.

 

If your a credit risk, either through current debts, older bad debts, bankruptcy etc, then another credit card is not the solution, you need to talk to someone professional and legal regarding your debts, and get them cleared first, BEFORE even considering another card. This website and CAB are good starts for debt advice, but remember to support the CAB and this site once your out of debt, as a thank you. I can assure you all, if it wasn't for this website, and CAB, i wouldn't be sitting here now, debt free.

 

Believe me, it makes all the difference to talk about your debt, and get them off your back, and the old saying still applies, your debts wont go away, they will always find you, you cannot run or hide. So, please, please if your in debt, seek the debt advice pages first, before even considering a credit card, of anyone.

Edited July 27, 2013 by citizenB
spell checking

[dannyfantana]

Hi Suprise, I am in a bit of trouble with Vanquis.. I have paid almost all of my repayments on time but the amount I'm paying back is just getting ridiculous. could you explain to me why the agreement is unenforcable and how I can get them to freeze the interest so I can pay back what I owe and clear the debt? thankyou

[Partyanimal]

I have read all here. I have just taken out a Vanquis card. I am aware the rates are diabolical, my quoted rate is 59.9%. I agree this is high, it is extortionate. BUT.... I have a dire credit rating due to being a single parent and then sick and then diagnosed with a chronic illness.

 

Financially speaking I actually don't need a credit card I just got paid a decent amount of money to leave my job (then walked straight into another better paid job.) However, I do need to start repairing my credit rating on that note I will spend circa £50 each month and repay in full. The girl on the phone was pushing for me to pay the minimum payment by direct debit and I could "top up" if I wanted to. I said "definitely not, Please ensure you take the full balance each month". and I will be checking that they adhere to this.

 

I will not become a Vanquis victim but I will use them as a vehicle to improve my rating for the next 2 years, after that I will drop them like a hot potato having never paid them any actual interest.

 

I suggest if you do have a Vanquis card and are paying lots of interest that you try to pay an extra £10-£20 a month and you will see the debt shrinking. Minimum payments are designed for the credit card to make lots of money on interest. And this company do prey on the vunerable. Please be careful and just use them as a vehicle to improve not as a back up for large purchases.

[tduke1]

my credit score is 604 which is classified as poor by Equifax and credit expert. Any tips to get me back on track, I am already with vanquish and my credit score 12 mths ago was 560.

Is there a quicker process for me to increase my score?

[Partyanimal]

tduke1 ---- The only way to improve it is to pay all your old debtors. For example I had a cooker from Brighthouse. With glee this weekend I went and repaid my debt with them in full. I am looking at setting up arrangements with other debtors. See if they will give me a reduced amount if I offer to pay in full.

 

I appreciate this may not be possible for some people, but by paying your debts it increases the score on your report. BTW my current score is 294 considered extremely poor by Experian. So the only way is up.... It isn't going to be a quick fix, its easy to fail victim to debt and default slightly harder to repair the damage, but if it was easy then there wouldn't be the problem to start with. :-p

[Carnival]

Hi. Visa Vanquis has offered a friends daughter, who is due to attend university next week and is taking out a loan, a credit card with over a thousand up for grabs. Since when can Viisa lend money on funds already loaned out of tax payers money. This is a joke, is it not?

[Partyanimal]

my credit score is 604 which is classified as poor by Equifax and credit expert. Any tips to get me back on track, I am already with vanquish and my credit score 12 mths ago was 560.

Is there a quicker process for me to increase my score?

 

If you join the free trial with Experian Credit Expert you can have a notice of correction put on your credit file. Basically you make a statement to tell lenders why you have missed, late or defaulted payments. This can go some way to repairing your score faster mines was originally at 298 (Very Poor) I am now up to 542 which is still poor but considerably better. Good luck !! Also try not to apply for credit you know you will be turned down for it makes you look credit hungry putting lenders off.

[Banger705]

hello, yes i made that mistake too and got a vanquis credit card.

 

i have now lost the orginal job i was on, and gone to a small part time job.i telephone vanquis and told them to added the interest rate freeze, which they didn't BTW.and i checked there Automated Account system which they reckon i owed them £206.00 , that was fine, then i Recieved an telephone call from them. saying that i Owed £1016.00 and that they Automated System Was in Error.i have now Defaulted on 3 months payments.and now Recieveing telephones calls on a Daily basis,from Vanquis, and some one callling themself Impact.

 

what should i do.

 

i have also recieved a letter From Cpp,and gone to Citizen advice for advice which they have forwarded to trading standards.here the snippet of CAB letter

Thank you for your enquiry to the Citizens Advice consumer service dated 15/08/2013. From our database it seems you have contacted us previously regarding this matter and therefore your reference number for this case remains CS xxxxxx and should be quoted in all further correspondence regarding this case.

 

We understand from your email that you are receiving calls and texts in regards to money that is owed which is causing distress to you and your family.

 

Based on the information you have provided the key legal points in response to your enquiry are as follows.

 

The Consumer Protection Regulations 2008 makes it an offence for a trader to

 

 

 

(a) harass the other with demands for payment which by their frequency, or the manner or occasion of their making, or any accompanying threat or publicity are calculated to subject him or his family or household to alarm, distress or humiliation;

 

 

 

(b) falsely represents, in relation to the money claimed, that criminal proceedings lie for failure to pay it;

 

 

 

© falsely represent themselves to be authorised in some official capacity to claim or enforce payment;

 

 

 

(d) utters a document falsely represented by him to have some official character or purporting to have some official character which he knows it has not.

 

. Edited September 19, 2013 by Banger705

[Old Cogger]

Impact are Vanquis next desk, tell them in writing only, and could ask them to prove the debt for such an amount as that, they are bastards

[LuckyReds]

hello, yes i made that mistake too and got a vanquis credit card.

 

i have now lost the orginal job i was on, and gone to a small part time job.i telephone vanquis and told them to added the interest rate freeze, which they didn't BTW.and i checked there Automated Account system which they reckon i owed them £206.00 , that was fine, then i Recieved an telephone call from them. saying that i Owed £1016.00 and that they Automated System Was in Error.i have now Defaulted on 3 months payments.and now Recieveing telephones calls on a Daily basis,from Vanquis, and some one callling themself Impact.

 

what should i do.

 

i have also recieved a letter From Cpp,and gone to Citizen advice for advice which they have forwarded to trading standards.here the snippet of CAB letter

.

 

Have you got any of your statements too hand, or do you know if you're currently paying for Repayment Option Protection? If so, this is set to cover these exact circumstances - and should allow you to freeze your account + interest for up to 24 months. Don't rely on Vanquis to inform you regarding this; ask them. I was personally passed on to Impact two or three times during the course of a similar situation; and never once did they remind me that I was paying ROP for added protection!

 

Impact is part of Vanquis, the capital letter logo? That's just a scare tactic, ignore it - you're still dealing with Vanquis. As for the "Defaulted on 3 month payments" - remember this is not a traditional default, these are late payments. AFAIK - when you actually default you will know because you'll get a proper default notice, and you're account will probably be passed off to a third party DCA. (I'm not too sure who Vanquis use)

 

If I was you, I would:

 

1. Ask them if you have Repayment Option Protection, if so, see if you can try and get them to start that off.
   
2. Dispute the amount, ask for clarification regarding the two different amounts.
   
3. Ask for a full explanation/breakdown of costs and charges
   
4. Offer to provide some token payments if you do not have ROP.
   

 

Whilst it's a good idea to keep everything in writing, I would personally ask about ROP by telephone - but ensure that that is all you talk about - if they try anything else then just politely say "That's all, I'm not prepared to talk about this by phone, Goodbye." - and hang up.

 

Purely because the ROP may provide you some protection immediately - even if it does though, I would put it in writing with details of your conversation and confirm that you're hereby utilising the cover of the ROP. Additionally, if you're making payments for ROP and they say you can't use it? Could open a bit of a can of worms.

 

I say offer to provide some token payments as this could help you out in the long run. (By keeping up some form of agreement and avoiding a default proper.)

 

I've just finished dealing with Vanquis, and I'll give them one thing - when I was firm on the phone with them they did actually listen. I made it clear I wasn't bothered about their Impact scare tactics and knew it was the same people. As for in writing? I've found a lot of places begin to treat you a little bit more seriously...!

 

In my case though, I only understood I had ROP when I submitted an SAR - around 2 months after closing the account. Needless to say, I was very angry to see no one had ever mentioned this when they harassing me and sending me demands! Furthermore, I hadn't spent a penny on my account for 14 months, yet paid them £1000! (I should add that I had cleared the card off, but forgot about it and this situation was purely their late fees/ID Protection/ROP/Interest..!) So if you can get that interest frozen then do it!

 

Good luck

[Banger705]

in my case they have said if i want to stop the interest , i Have to pay them 6.95 per month. which i not prepared to do.

 

i have already disputed the amount. a recieved a letter stating that my credit limit has been decreased with the bill attached.

I also contacted by another company representing the Government PPI claiming scheme,saying that Vanquis bank and another Credit card company(Capital one) are the worst for Hiding there PPI inside there Interest Rates.so they can say there is no ppi on the account.

 

 

Statements: i don't have. has it online account only(also been blocked by them since i owe them money). i Grabbed a few before about 6 months worth.

but most of my Bills were made by chqeques, so i have a record of the amounts/payments dates other the Years.

[Tonym4321]

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...

 

I have asked for my account to be put into dispute, lol. Guess what they won't do this. I have asked them a few simple questions and as there propaganda states they are transparent, guess what lol. There about as transparent as muddy water.my questions are as follows:

1. Did you actually lend me any money, or did I create the money by signing the credit agreement, creating a commercial instrument. So by doing so, I deposited the said money into your account ?

2. Can you prove, by way of ledgered PROFIT/LOSS accounts, that you moved money from your account into the account you created in my name ?

3. Do you still have the " WET MARKED NOTE ", ( credit agreement ) I signed and you signed, if so, can you show me the original copy. If this is not possible I can only presume there is no contract between us ?

I am now refusing to pay any money they accuse me of owing and have said please feel free to take me to court, as I have no burden of proof in this matter. They are making the accusation so it is there burden to prove this matter. I have also told them that under the law, before any trial I have the right to DISCLOSURE. This basically means they have to DISCLOSE to myself all the evidence they have to prove there case. So I have informed them that I will be asking for all the above, let's see them wriggle out of that. I just tell any of there phone call staff now that I'm not obliged to give them any personal details, they soon put the phone down. If they persist before answering there security questions, I say I have some security questions. I asked them there full name, first line of there address, date of birth, home and mobile numbers, they soon go away. It's that simple for me, I've had enough of them. I have told them I will happily commence paying the debt if they answer these questions. Lol they won't answer them !!!!

FUNNY THAT REALLY, I WONDER WHY THEY WON' T ANSWER THEM ?!!!!!

Also quote this to the bastards :

 

 

The Consumer Credit (EU Directive) Regulations 2010

Pay special attention to section 55A-1-(a) in conjunction with section 2 © it's a ****ing KILLER BLOW !!!!

Pre-contractual explanations etc

 

3. After section 55 (disclosure of information) insert—

 

“Pre-contractual explanations etc

 

55A. (1) Before a regulated consumer credit agreement, other than an excluded agreement, is made, the creditor must—

 

(a)provide the debtor with an adequate explanation of the matters referred to in subsection (2) in order to place him in a position enabling him to assess whether the agreement is adapted to his needs and his financial situation,

 

(b)advise the debtor—

 

(i)to consider the information which is required to be disclosed under section 55(1), and

 

(ii)where this information is disclosed in person to the debtor, that the debtor is able to take it away,

 

©provide the debtor with an opportunity to ask questions about the agreement, and

 

(d)advise the debtor how to ask the creditor for further information and explanation.

 

(2) The matters referred to in subsection (1)(a) are—

 

(a)the features of the agreement which may make the credit to be provided under the agreement unsuitable for particular types of use,

 

(b)how much the debtor will have to pay periodically and, where the amount can be determined, in total under the agreement,

 

©the features of the agreement which may operate in a manner which would have a significant adverse effect on the debtor in a way which the debtor is unlikely to foresee,

 

(d)the principal consequences for the debtor arising from a failure to make payments under the agreement at the times required by the agreement including legal proceedings and, where this is a possibility, repossession of the debtor’s home, and

 

(e)the effect of the exercise of any right to withdraw from the agreement and how and when this right may be exercised.

Edited October 30, 2013 by Tonym4321

[Tonym4321]

Just have a laugh with the calls just ask them to do your security checks first they'll soon go away, also register with the telephone preference service log the calls and then make a complaint to the INFORMATION COMMISSIONERS OFFICE. I'm logging mine at the moment, but I do enjoy laughing at them. Also tell them the calls being recorded for public record they'll soon put the phone down and do record them and post them on YouTube it's good fun lol. !!!!!!! ITS UNSECURED CREDIT, SERIOUSLY DONT WORRY ABOUT IT, ITS WHAT THEY WANT YOU TO DO. !!!!!! LAUGH AT THEM EMPOWER YOURSELF LOL. !!!!!!!

[dx100uk]

tps is no use with legit debts/dca/creditors