Vanquis credit card anyone any exp ?

[MARTIN3030]

I used to have one of these and racked up a few pens.

Have just found some paperwork with account details.

They are still trading under same name.

Dont see anyone on here with a claim though is anyone intending to start 1 ?

 

[Seminole]

Vanquis are still around. They're part of Provident Financial- the company behind Yes Car Credit (RIP my arse) and of doorstop lending fame. I think some people have taken the Provi on so have a quick search for them here.

[MARTIN3030]

Hnnn thats very interesting

 

Thanks 4 that

 

[overdone]

Well I have applied for Granite and they are still scratching their chin. Have been with Provident for four years with a perfect score with them. Am awaiting outcome still from Granite.

[rebel11]

Hi Martin

 

I think they offer credit to people who find it hard to get credit at extortionate interest rates.

[overdone]

Well they rang me today to confirm my details and said I would be getting a card. They also offered a £100 instant loan to my bank account. I declined the loan but not the card.

[marneh]

I have a credit card from vanquis and have paid what they say is minimum payment. When I have paid slighly more than the minimum, the interest they add on took me over my limit and they hit me with extra charges. I have written to them complaining about this. They have not replied. They have been on the phone over the last few days demanding payment. I have been ill in bed for a week and as a pensioner I expect to be dealt with understanding.

 

I have dealt with many customer service depts over my lifetime and vanquis are the worst. Any suggestions please?

[Seminole]

If you don't want to talk to them, just refuse to go through their security questions and put the phone down. If they won't reply to your letter then there is no need to be polite to them.Vanquis calculate and apply interest after they have processed your payment. The minimum payment is not calculated as a percentage of the balance. If you are close to your credit limit then it's likely that the minimum payment won't be sufficient to keep your balance under the credit limit when interest is added. As you have found this means that they can slap another £12 over limit charge on the account.This may seem unfair and unreasonable but it's how these sharks operate. From the Vanquis point of view, their card is designed to screw people into the ground and levy every charge they can think of. From the customer's point of view, the card is useful for rebuilding credit ratings but if you use it as a source of credit beyond the interest free period, it is unbelievably expensive. If you have any spare cash the best thing that you can do is to get the card balance down to zero.

[overdone]

I agree with the above. My vanquis is paid off in full every month. I use it as a means of payment only. It restores my credit worthiness each month.

[needmore]

My experience with them is still ongoing. Today i just refused to make anymore late payment fees, as i paid the money by FP and they refused to acknowledge that it takes two hours. Or usually at some point in the day. Said they were not part of the faster payment group. Forgetting i have paid this way on the last 4 occasions. And yes their customer service is not good.

I wonder why so many people have serious concerns or complaints with this bank, and nothing is beeing done.

Edited June 13, 2012 by MARTIN3030

[assisted blonde]

To be fair apart from the hig interest rate I have had no problems dealing with and speaking to vanquis for the last 6 yrs or so, having said that am about to transfer the balance to a main stream lender at a much lower interesty rate, but its taken a while to get to this point.

[Martin B]

At least they have one satisfied customer! They must be doing something good.

[assisted blonde]

Like any credit agreement, if you keep on top of it its not a problem, whatever the interest charge.

My philosphy is dont look at the interest, look at if you need/want the cash, then look at if you can afford to pay back what you need to without defaulting, if the answer is yes then how much the actual interest is is immaterial to some extent.

There will always be lower interest rates around, or better deals but you can spend hours swopping around, not just credit cards but utilities, or going from one shop to another looking for the better deal, and if you have the time or the inclination brilliant, but if you dont then do the best you can with what time/cash you have availible.

its like going on holiday and finding out that the people next to you in the hotel have paid less than you for the same deal, if you were happy with what you got at the time, bthen theres no point in fretting over someone getting a cheaper deal than you.

[royalscot]

I used to have one of these and racked up a few pens.

Have just found some paperwork with account details.

They are still trading under same name.

Dont see anyone on here with a claim though is anyone intending to start 1 ?

 

 

Hi martin , im doing a claim for a friend and its ongoing , she received a reply back from vanquis stating they have 50 days to investigate her complaint

 

Its credit card charges , think the last apr was 55%

 

 

regards

 

rs

[MARTIN3030]

Well the 50 days is their timescales,which under FOS rules is actually 56.

 

If you have given them a list of charges with a total that includes interest and asked them to give it back,then it should not need 50 days for any investigation.

 

A letter before action is the way to begin.

 

You need to take the driving seat and if you are prepared to take them to the small claims court-give them 14 days.

[royalscot]

Thats the 50 days up ...my friend telephoned for an update and was offered the charges back WITHOUT the interest

 

Surely this is unacceptable ....My friend was asked if that was acceptable and said NO

 

I have advised to get this in writing and will update as soon as

 

regards

 

rs

[MARTIN3030]

So was their offer made by phone ?

No good dealing in any way other than writing.

Obv they would have to put it in writing on acceptance.

Refusing to pay the interest is something many of the card issuers have tried to evade,but most have come round.

If it went to small claims its not guaranteed Compound would be awarded,but certainly 8% would.

[gust]

I agree with the above. My vanquis is paid off in full every month. I use it as a means of payment only. It restores my credit worthiness each month.

 

Me too, low usage and paid in full 2 weeks later. so no interest and adding to credit file.