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Scottish Trust Deed Forum
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Topic starter
17/05/2013 5:20 pm
So i have received my Vanquis Credit Card in the post which has a £500 credit limit [:0]
Cheesey Peeps!!!!!
Why on earth would they give that knowing peoples history?? Is that not asking for trouble?? I think im strong enough not to be silly again BUT i would rather that the temptation wasnt there!!
Can i contact them and ask for this to be reduced to a sensible figure like £50?? I know it shouldnt bother me being £500 but to be honest it does as im not getting in a mess financially again and dont want any temptation!! I dont want £500, £50 would be more than enough. It would be there as an emergency but mainly buying something cheap every month to help repair credit report.
If i cant reduce the limit then the card will be shredded, Simples!!
17/05/2013 5:24 pm
I'd imagine from their point of view that a limit of £50 would defeat the purpose? They're not really trying to provide a nice, friendly service to people with poor credit. They want you to use the £500 and pay the 40% APR on it. I think I'm right in saying that Vanquis is Provident who are the people that send agents to pubs etc looking for their money. I've applied for the card but it will be getting minimal usage and then cancelled whenever possible.
Topic starter
17/05/2013 5:36 pm
Its changed days for me now [:)]
I am so wary now where as before i wouldnt have bothered!!
I see there point because they are taking a risk so to speak taking us on but also somebody is sitting there rubbing their hands and seeing pound signs because they know that there will be loads of folk go in up to their necks again [:(]
It has been thrown to the back of the drawer just now. I think i might use it a couple of times but when the limit is increased to stupid money it will be shredded.
I have done without a credit card or hp or loans for over 4yrs now so i know i dont need them. I only got it to help my credit but to be honest really dont want it.
Does it show on your credit report that you got a credit card just?
17/05/2013 6:20 pm
Hi macaulay956.
If you're worried that the card will cause you a problem I'd shred it.
There's no point in risking further trouble (that will ruin your credit rating further) for the sake of rebuilding your credit rating.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
17/05/2013 7:02 pm
Hiya
I am worried and im not worried if you know what i mean?
After more than 4yrs of not having any credit its a bit scary!!
I know im strong minded enough not to be stupid and stick to my guns but i think maybe i dont like it because it reminds me of the mess i was in?? I dont know, i cant explain it!! All i know is that im not keen on those plastic flexible friends!!!! lol
18/05/2013 12:02 am
Part of the rehabilitation process in my opinion is being properly in control of finances and part of that includes knowing how to use a credit card without fetting heavily into debt.
Vanquis will up your limit regularly but these increases can be refused, mine is now a £2000 credit limit.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
