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09/02/2013 5:26 pm
Hi
It has been a while since my discharge so thought I would apply for a Vanquis card to get my credit rating back on track.Got accepted without any problem even got offered a loan while waiting for the card to arrive ! This seemed to me to be all too easy so my question is , has anybody ever been refused one of these cards or do they just hand them out to all and sundry as they have such a high APR. There does not seem to even be a credit search recorded on my credit report. I may be worrying for nothing but I am in two minds as to use it or not. APR does not worry me as it will be cleared every month it is for improving my credit rating that is all,one tank of petrol per month !
Any thoughts appreciated.
Thanks
09/02/2013 5:41 pm
Hi Scotland28,
I too was accepted pretty easily. I think it's unlikely they decline anyone because the truth is the interest rates are sky high.
They are great for people like us to rebuild our credit score, but we need to make sure we pay 100% of the money we owe every month.
It's a good idea to use these cards for a monthly expense i.e. fuel or food - and pay it back ASAP.
ScotsLad
09/02/2013 6:18 pm
I know of plenty people post ivas that has been declined.
Its actually quite a good card (barring the high apr). The online management is really good plus text updates for balances and due payments etc.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
11/02/2013 2:29 pm
Hi folks,
I was declined for a Vanquis but accepted for a Capital One card.
Don't know why but its a great card with a brilliant online account page and I pay it off every month too.
12/02/2013 12:01 pm
I am 18 months into my trust deed
I reieved a couple of emails about the vanquis card, applied and was accepted, I was shocked that I was accepted as I still have 18 months of my trust deed to go.
It has been really good for me managing my money. I have a budget of £450 each month for food and fuel, and as soon as I get paid I trasfer this to my card, using like a prepaid card, so I am always ahead of myself, which actually feels quiet good. Makes a big change from dreading credit cards bills, when you know you have already paid it before you spend on it. Online managment and txt updates are really good. It has helped me to stick to my budget, and its helping me rebuild my credit score while im still in the trust deed. Starting to feel like im getting my life back now 🙂
