I hope you stick to the above plan boys1211. I will be applying to Vanquis card once my last payment has been made. My favourite saying when I had a wallet full of plastic was to say (stick it on that card £)I also think I started the recession, how foolish I was. On the last lap now four more payments.

Oh I defo will sparky1.....will never ever be in that mess again !! The end is in sight for you as well, great stuff !

Very decent tool the vanquis card. Online management and text updates for balances and payments due.

Nice green ticks on my credit files.

I've applied to join the vanquis club today. Here goes nothing.

my wife just got a vanquis card recently too.

Terrible APR but actually quite good for a card with no fees.

Paul

Ideal timing for me this thread. Trying to book car hire and coming up against no CC no hire car. This will be our first holiday for years for us and a real treat for OH, planning on renting a little villa in Spain but a car is necessary.
Is there a specific card to apply for as there seems to be so many options but none that I can see for those x-TD.

Hi twizzle.

Hopefully some members will make some suggestions for you.

This is what we found when we looked into the subject last summer:

(2020 link updated to: https://www.trust-deed.co.uk/repair-your-credit-rating.html).

Credit cards when used correctly can be great tools for saving money. I have a card which I specifically use for work expenses. No interest is charge if paid within 1 month of purchase. Reclaiming the expenses allows me to pay this straight to the card bringing it back down to £0 leaving all my cash for me personally.

Also great for when on holiday etc. But be very careful and put away somewhere when not needing it as it can be so tempting to use with the intention to pay back. However, it can sometimes be easier said than done I am sure we can agree. Just make sure and do the shuffle a month before any introductory rates cease to avoid high interest rates. The time spent shopping around always pays dividends!

On the car hire thing, I booked one for when we went to France and didn't read the fine print until after the booking went through. They were going to take a deposit of between 600 and 2300 euro. My car would be blocked for this amount until the car was returned. As I didn't have this available balance, I cancelled. It might be different in a resort but all the companies I spoke to operated the same way. Luckily, I got a full refund so not a massive problem.

Thanks TDA & Rob, much appreciate the advise. We have been saving most of our TD amount each month and have been amazed at how our savings are building up. We will pay off the car hire (if we get a card) straight away from our savings. If not, sure a family member will pay and give them the cash. Will never use cards to get into debt again, its good to see our savings mount up and this will be a well deserved treat for us.

Hoping for recommendations on what vanquis card that others have applied for and received.

OMG the thought of even applying for credit makes my palms sweaty. Im going to keep my head down. Im enjoying being debt free for the first time in 24 years.

quote:

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Originally posted by buddyup

OMG the thought of even applying for credit makes my palms sweaty. Im going to keep my head down. Im enjoying being debt free for the first time in 24 years.

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Some folk, myself included feel that using credit properly makes the whole debt rehabilitation process complete. Avoiding credit forever means credit has won. I want tobe able to control myself with credit, not have it control me.

Its not the way everyone will want to act after getting into bother, each to their own.

Paul

I agree with you Paul, it is about being in control. C

redit is hugely important and without it the economy would grind to a juddering halt. But there is an inevitable risk involved that your circumstances can change for the worse and repayments may become difficult. As long as these risks are managed effectively (eg some savings are set aside to cover temporary problems) then credit can often be a springboard to a better life.

That is my point too about credit and credit cards now. If I get one for my car hire rental it will be paid off from my savings. Next plan is to save a deposit + my current car for a newer car and hopefully get a bank/car loan when my TD drops off my credit report in just over two years.