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Vanquis Credit Card - accepted


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Please accept my apology if this is not in the right forum.

 

2 weeks ago I applied for a vanquis credit card online and on 30th of December last month I got a call from vanquis asking my details and setting up direct debit, also adviser asked me if I would like a transfer to my bank and I said no, then he said congratulations I have been accepted and will receive my credit card with 7 working days (I am shocked at this as my credit rating is not that good) but just wondering if anyone can answer these questions for me.

 

1. Does all this mean I 100% been accepted? or can they change the minds and cancel/block my card?

 

2. How long does it take to receive card and pin?

 

3. I understand Vanquis is owned by provident? however when I was living with parents 3 years ago, I got a loan from provident but couldn't pay them back as I was sanctioned by Job centre, would this go against my application so they could cancel it straight away? or has anyone got a debt with provident and still got accepted/card?

 

4. do I need to pay my bill when my statement is produced straight away to avoid late charges/intrest ete?

 

Any help would be great, I got this card to build my credit rating and also not buying any expensive things on the card, just a few items like a dvds from amazon, and shopping at tesco.

 

I also going to look after this card and make payments on time.

 

So any advice would be brilliant, thank you.

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pretty much everyone gets accepted regardless.

 

never ever leave a balance

pay it off each month in full

 

they'll up your limit pretty quick too.

 

don't fall for it!

 

I doubt they care you had an old debt either.

 

dx

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pretty much everyone gets accepted regardless.

 

never ever leave a balance

pay it off each month in full

 

they'll up your limit pretty quick too.

 

don't fall for it!

 

I doubt they care you had an old debt either.

 

dx

 

Hi,

 

What do you mean never leave a balance? well if I go over my limit I will get a charge won't I?

 

Sorry if that is a stupid question, I just never had a credit card before so I don't know how these things work.

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tbh, you should see how much the APR is as heard it is quite high and yes if you go over your limit you will be charged

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The APR is very high. They range from 39.9% to 69.9% so it is your best interest not to spend on it more than you can affford to clear the whole balance each month. Never take a cash advance on the card (if that is even allowed) as interest is charged on it immediately.

 

By paying the balance off in full each month, you effectively are given an interest free loan.

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When you get your statement it will tell you the due date for payment. It will also tell you the minimum payment.

If you do not make the minimum payment by the due date you will get charges and if you don't pay the full payment by the due date you will get interest.

 

Remember to pay it a few days before the due date to allow them to credit it to your account.

Any opinion I give is from personal experience .

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If you are intending to use this to repair your credit history, then it is advised you

 

either

 

 

Never, just pay the minimum amount, at the very least you should pay more than the minimum payment requested.

Never spend more than your credit limit permits

Never pay late - you will receive horrendous charges on which interest will eventually be charged

Clear the balance each month so you are not charged interest.

 

IMHO, Vanquis or the other high interest (repair your credit history cards) are no different to PDLs.

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Vanquis have a habit of not only upping your credit limit, which you may think great, but they will also up the interest rate. Vanquis also offer Repayment Option Plan, which is a rip off in itself. to keep ahead of Vanquis dont have ROP, and always pay in full every month, and whatever you do dont go for a cash advance, i had a £50 cash advance and for this i was charges 100`s.

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tbh, you should see how much the APR is as heard it is quite high and yes if you go over your limit you will be charged

 

So how come a user stated never leave anything on my card? I am confused. is he/she trying to get me into debt lol

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No what is being said is always pay off the bill in full each month by the due date. That way you will not be charged interest.

If you are late paying not only will you be charged interest on the whole balance but also have an extra charge put on there.

Any opinion I give is from personal experience .

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No what is being said is always pay off the bill in full each month by the due date. That way you will not be charged interest.

If you are late paying not only will you be charged interest on the whole balance but also have an extra charge put on there.

 

Ok, so lets say I bought something for £30.00 and I pay all £30.00 when my statement is released, will I be ok then? do I pay straight away once the statement is produced or wait until the next day?

 

Also when advisor rang me on monday to continue with my application he asked for my direct debit details, so when I get the card, do I cancel the direct debit and pay all of the balance in full every month? or can I still keep the direct debit on? but if I cancel the direct debit will vanquis cancel/block my card for using?

 

Sorry I am asking all these questions, I just don't know how credit cards works lol :)

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Gay guy

Yes, so you spend £30 and that appears on your statement. As long as you pay the £30 by the payment due date on your statement all will be ok. What should happen then is that there will be nothing for your DD to take so they will not try to take any money.

 

If your statement is produced on 1st Month you might receive it on say 5th and the due date may be 25th. If you make your payment via their online payment system by the 20th you will be fine.

 

All those dates are just rough guesses , the detail will be on the statement

Any opinion I give is from personal experience .

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Gay guy

Yes, so you spend £30 and that appears on your statement. As long as you pay the £30 by the payment due date on your statement all will be ok. What should happen then is that there will be nothing for your DD to take so they will not try to take any money.

 

If your statement is produced on 1st Month you might receive it on say 5th and the due date may be 25th. If you make your payment via their online payment system by the 20th you will be fine.

 

All those dates are just rough guesses , the detail will be on the statement

 

Hi Fletch,

 

That's helpful, thank you!

 

How long does it take to get the card once you get accepted by phone? is it 7 days? or sooner then that? I want to get a mobile for £30.00 at argos but I hate waiting lol.

 

I am not spending a lot as I am going to take care of this credit card, its only fair since Vanquis as given me a chance, and also to rebuild my credit report/rating :)

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Gay guy

 

If you miss a payment or are late in paying they will charge you £12-00 for being late and if it takes you over your limit they will again charge you another £12-00 As well.

 

They add ROP as a matter of fact, then claim you asked for it. If you have not asked for it make sure it is cancelled. Provident/Vanquis will make sure you will end up with charges on your account, this is how they make there profit. Be very wary of this card and go and view the posts regarding this card before you start spending what you don't have, it takes just ONE fee to be added then you will get all sorts of agro.

 

Make sure you keep track of all your spends and check your itemised statement carefully and query anything that looks wrong. Trust us when we say to you be very careful indeed.

 

Do not take advantage of using your card to make cash withdrawals from it as the cost is high, never use it abroad, also some time soon you will receive a few blank cheques for you to use DON'T use them they are CASH in reality, and cost a bomb to use. basically if you need to use your card keep the spends to 20% of your credit limit max and always pay in FULL every month.

 

MM

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Gay guy

 

If you miss a payment or are late in paying they will charge you £12-00 for being late and if it takes you over your limit they will again charge you another £12-00 As well.

 

They add ROP as a matter of fact, then claim you asked for it. If you have not asked for it make sure it is cancelled. Provident/Vanquis will make sure you will end up with charges on your account, this is how they make there profit. Be very wary of this card and go and view the posts regarding this card before you start spending what you don't have, it takes just ONE fee to be added then you will get all sorts of agro.

 

Make sure you keep track of all your spends and check your itemised statement carefully and query anything that looks wrong. Trust us when we say to you be very careful indeed.

 

Do not take advantage of using your card to make cash withdrawals from it as the cost is high, never use it abroad, also some time soon you will receive a few blank cheques for you to use DON'T use them they are CASH in reality, and cost a bomb to use. basically if you need to use your card keep the spends to 20% of your credit limit max and always pay in FULL every month.

 

MM

 

Hi Mikey,

 

This helps but what do you mean by 20% max? do you mean near the credit limit? I am only getting a new mobile for £19.99 at argos and a few bits at tesco and then I will be paying all the amount back when my bill is due.

 

And yeah I know about the cash withdrawals, it's shocking they charge so much for withdrawals.

 

UPDATE: I phoned vanquis up this morning to check what is my credit limit and advisor said £100 why is it so low? will they increase it if I keep up with payments?

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If you want to put 30 on the card i wouldn't worry so long as you can pay it back all at once. They will increase your credit limit but that doesn't mean you have to use it.

Any opinion I give is from personal experience .

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Anyone know how long does a Vanquis credit card to come? I have been told by Vanquis advisors on phone that they sent it out on Tuesday, could I expect it to come anyday now?

 

I really want to start rebuilding my credit rating :)

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Well with New year yes I guess you could.

 

I have to say that a few days won't make any difference to your credit history.

 

I worry that you actually just want that new phone which you can not pay for because Christmas has been and Jan is a long long month.

 

I speak from experience here, the first thing I did when I got a credit card was to go out and buy a bottle of Vodka to celebrate . the rest as they say is history

Any opinion I give is from personal experience .

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Well with New year yes I guess you could.

 

I have to say that a few days won't make any difference to your credit history.

 

I worry that you actually just want that new phone which you can not pay for because Christmas has been and Jan is a long long month.

 

I speak from experience here, the first thing I did when I got a credit card was to go out and buy a bottle of Vodka to celebrate . the rest as they say is history

 

Of course I can pay it back, when I get my credit card I am going to buy a mobile for £19.99 plus £10.00 top up from Argos, so when I get paid again from My job seekers, I can pay all £29.99 back on my credit card.

 

I am going to pay my credit card bill in full every month, I can afford it as I don't smoke, I don't drink that much, I haven't got sky or virgin media.

 

So I can afford it :)

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