Warning RE VAnquis Credit cards

[stevokenevo]

Around a year ago i got a capital one C.C, to help improve my credit rating( i didnt have any form of credit) which i used and paid in full monthly, £200 credit limit and they hold a £200 deposit from me.

It served its purpose and i got a good mortgage deal in august this year.

I decided to apply for a new C.C and close my capital one account to get my £200 deposit back. I applied for a vanquis gold visa card with an APR of 19.9% (10% better than the capital one card at 29.9%) shiny new card appeared through letter box on friday, however it is not the gold card i applied for, or even there next best effort, a 'blue card' but an 'abacus card'? rechecked the website to find this comes with a typical APR of 39.9% read and reread all the literature they sent me but could find nothing detailing how much my APR was exactly. phoned them to enquire why i hadnt received the card id applied for, was told this was the best card i was eligible for, explained they hadnt told me my apr to be informed they have gave me a card with an APR of 49.94% !!!!!!!! OMG if i hadnt have asked they wouldnt have told me!! i wa planning to balance transfer from capital one at 29.9% to this mob at 49.9%!! that would have been good ehh ;-) needless to say i have cut the card up and it will be posted back to them.... robbing B**T**Ds

[ellielou]

Ask them to close the account as well Stevo. Otherwise this will still show up as active on your credit files.

[POCA]

49.94%? They having a laugh? Sounds awfully close to being extortionate to me.

[gizmo111]

This cards is owned by Provident - the doorstep loan sharks.

[ravenbluemoon]

Vanquis. These guys are crooks - they send us all sorts of junk through the post, some APRs I have seen are as high as three figures!:o I think they tend to prey on those in the poorer areas (my area is full of workshys), and those who can't get credit. I sent back the junk mail "return to sender" with my name removed, and "scummy loan sharks" written all over it. Strangely, they haven't sent us anything for a while, now.

 

Advice, AVOID LIKE THE PLAGUE!

 

P.S. Off topic, but Crapital One let me have a Credit Card, £150 credit limit, but they wanted a £99 deposit first!!

[blitz]

thats not really a credit card when you pay money up front is it...

My only cc is an egg on at 16.9% apr. Which I have a DD set up so £100 gets given to egg every month (most of the time giving me a positive balance). Have you not tryed to get a cheaper credit card such as egg/virgin etc. May be better then a gold card @ 19.9% even if u did get it

[elizabeth1]

So glad you read enough to see what was the crack with this card!!!

 

Aren't they a bunch of crooks??

 

Mkae sure you get them to close the account to make sure they don't stuff you with a charge for an "Annual Fee" as I am sure they'll try suck something out of you in resepct of something like this.

[stevokenevo]

Account was officially closed 1 week after it was opened ;-)

[buzby]

A shame that they've probably left a big muddy footprint on your credit file. Not that it was adverse, but it might be worht a letter that as you did not receive the product you originally requested, and rejected it out of hand - you wish their footprint to be removed from your CRA file?

[lazybones]

hi All

Just read this thread and would like to share my practice with you all.

 

What I do is write across the form NOT REQUIRED and then post it back to them in their own envalope:D

[Adam69]

Another tip- do this at breakfast, open the letter, fill out a whole load of abuse about their APR, sweep your toast crumbs inside, and send back the whole lot- the heavier the envelope the more it costs, and the toast crumbs will go everywhere