Mine is at 3k now,but the wifes is only at 1750,even though she earns more than me!

Never be able to figure out the rules for them.

Paul

Paul, have you had to spend close to your limit to get the increase?

I hope not, as I don't intend to go near £550 unless I can pay it off almost immediately.

Never been near the limits but thought it would look better on file if I have access to more credit but wasnt using it.

I'd hate to see the monthly interest on 3k!!!

Paul

It's a tough one this.

If you have a wide open unused credit limit does it make it safer or more risky to lend to you?

On the one hand someone else appears to have reason to trust you.

On the other hand your ability to borrow heavily (and expensively with Vanquis) is enhanced which makes new lending potentially less secure.

I'm not sure this is a one way street.

The vanquis card in my case will be punted as soon as possible. I know some lenders look at what credit is available to you.

No right or wrong in this methinks.

I think that's right Paul.

What appeals to one lender might be the same thing that puts off another.

I still think vanquis as a name may put lenders off and hint at previous problems but I am sure the benefits of regular payments being seen greatly outweigh a name.

Paul

I think using it as a staging post probably does more good than harm Paul provided that all payments are made on time and a balance doesn't build up.

I also think you're right to want to move on from it when more mainstream sources of credit become available to you in the future.

I noticed vanquis do a couple of other cards with almost normal APRs but you cannot apply for one if you have a vanquis card,so theres no upgrade to a cheaper card even after your credit rating improves.

Probably try my current account provider for a credit card after may when the trust deed vanishes from my credit history!

Paul

I think that both of you are right here. It's got to be purely used a staging post (albeit a very useful one), also that I think lenders will see it as a red flag.

IMHO, the fact that lenders specifically asked Experian to log Wonga, Cheque Centre et al specifically as Payday Loans on our files means that micro management is the future as far as our credit files go.

Could be a coincidence so soon after discharge but a letter from Provident dropped through my door together with my Vanquis increase. Less then four weeks after discharge - go figure!

There's no coincidence there CIF.

Vanquis is owned by the Provident Financial Group!

Yeah I know that TDA lol.

What I was meaning is that I have not heard from Provident doorstep loans since I joined Vanquis. Surely Provident don't monitor public insolvency records????

I don't know CIF.

There are certainly firms that do though, something that's causing some consternation in England and Wales at the moment.

Provident have never had any morals TBH. There is lttle doubt that they monitor this stuff.

Had to love the bit highlighted "...being unemployed need not be a problem".

They have always been the original Payday loan lender. Not here to be hypercritical of them as Vanquis is a useful tool for folk to get back on track. However it is cynical/target marketing.