Vanquis neverending

[Boppy]

At the time these cards seemed a good idea however myself and my husband have got in a pickle with them, we pay the minimum every month (around £125 per card) and the balance hardly moves, we're stuck between a rock and a hard place, our scores are improving but not fast enough to get any sort of loan to pay off yet this vanquis situation is leaving such a dark cloud over our heads and with two children £250 per month could be spent elsewhere, has anyone any thoughts on what we can do? I've googled but noone seems to have anything good to say about them just that they hound and harrass and continue adding interest at a stupid rate. Thanks in advance.

[obiter dictum]

I have a vanquish card and started off with a £250.00 credit limit, after six months went to £500, then £1250.00 after 12 months. I am very disciplined and pay off in full each month.

 

The problem is the APR, mine had never moved from 59.9%

 

Even though i settle every month i phoned them up after 12 months and stated my credit rating was now good enough to get a card with 30% APR. I stated i wished to stay with Vanquish but not at that APR and i was able now to pick and choose providers. They dropped the APR to 29.9%.

 

What APR are you paying??

[citizenB]

Have you considered speaking with a credit union ? See if you can obtain a loan from them to pay off the card and get shot of it. You might have to save a few £'s each month with the CU.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?442501-CAG-Newsletters-From-January-2013-December-2013&p=4704695&viewfull=1#post4704695

 

^^^ Have a read of the Article in in our Special Focus Newsletter on the Credit Unions in the link above.