Vanquis Card

[monkquito]

If I have defaults about 5 years ago, what success would I have applying for a Vanquis card to improve my credit rating?

 

Thanks is advance

 

M

[citizenB]

Whilst we do not encourage people to apply for Vanquis cards - I wold think if you have defaults that are about due to drop off then your chances are pretty good.

 

Vanquis are no better than a revolving Pay Day Loan, perhaps you might consider joining a credit union or even try to persuade a mainstream lender to provide you with a minimal credit facility ?

 

Please do not apply for lots of credit cards as this will reflect on your credit files

 

http://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards

 

Some useful information for someone in your situation on the link above.

[PaulW922]

Vanquis will probably accept you.

 

I dont agree with the 'revolving pay day loan' comment I'm afraid. Firstly you can use the card and pay it off in full, like any any credit card and pay nothing. Secondly, the interest rates on Vanquis, whilst high are nowhere near those of Pay Day loans. The card will also report your conduct back to Experian and Equifax, which provided you pay it each month, is probably good for rebuilding a credit profile.

[AWC]

Having been an honest Vanquis card holder for many years, and never defaulting on a payment, they still treated me badly when I decided to close my account. Personally, I wouldn't never recommend them. It's an easy card to get, but extremely difficult to close your account and rid them of any debt, believe me they are very economical with advice when it comes to leaving them, DO NOT TAKE OUT ANY ID PROTECTION OR ANY OTHER PRODUCTS WITH THEM. Beware!