Vanquis Bank Credit Card Review

Overall Rating

Easy to get a card even with poor credit rating.

Increased my APR from 34% to 54% after I accidently breached the terms and conditions.
Very poor customer service with rude staff.

DO NOT GET A VANQUIS CREDIT CARD. I have had so many problems with this company. Hardly surprising giving that they are a subsidiary of the notorious Provident Financial Service.
I got a Vanquis credit card 2 years ago. I needed a card to use for internet shopping, but as I had no credit rating Vanquis were the only company that accepted me. So they gave me a card with a £250 limit, with an interest rate of 34%. I always managed my account well and usually paid of my balance each month. Then recently I accidently went over my credit limit. What happened was that I had phoned Vanquis to check my available credit and the automated service said I had £30 credit available. So I used my card to make a purchase, only the information I was told was wrong and I accidently went over my limit. I explained this to Vanquis, but they said that this was no excuse as the information on automotive service was just a ' guide '.
Then later I needed to make an internet purchase of over £500, but my credit card limit was only £250. I asked Vanquis if I could increase my limit and they said no because of me accidently going over my limit. So instead I transfer £500 onto my credit card via internet banking of my current account. This meant that my card was now in credit rather than debit. When I went to go use my card I found out that my card had been suspended. Vanquis said that they had suspended my card as it was against the terms and conditions to have your card in credit. What ' s more they wouldn ' t unsuspend my card until I could prove that the money had come for my bank account. So I had to fax my bank statements to them 3 times (as they kept saying that they hadn ' t received the previous faxes) before they would lift the suspension. The whole process was very frustrating as the Vanquis Customer Services Staff are obviously trained to be as rude, unhelpful and unsympatric possible. Finally after 2 weeks without any money the suspension was lifted.
Then recently I received my statement and in small print it said that Vanquis were increasing my APR from 34% to 54%. I phone them for an explanation and at first they wouldn ' t give me one. They just kept stating that it was a decision the company had made and they didn ' t need to give me an explanation. I demanded an explanation as it didn ' t make sense that they were increasing my rate by 20%, when Bank of England interest rates have come down recently. They then tried to say it was because I had breached my terms and conditions, by accidently going over my limit and by putting my account in credit. This is ridiculous. It seems that Vanquis will use any excuse to increase their interest rates.
Anyway the end result is that I have paid of my balance and cancelled by card. I will not give a penny more of my money to this company.

Members' Comments onnicochicco's Review

• CliveMendez on 4th Aug 2009

  
  For a start, if you have a bank use your debit card on the internet. Also you never put credit on a credit card, it's not how they work, you pay off your balance and that is it. Never go over your credit agreement. This is all really simple stuff. Also you shouldn't have canceled as you will find it hard to find anyone else that will give you a credit card now you have that as your credit history. You used a card thats aim is to improve credit ratings from bad to good yet you managed to make yours worse!
  
  As for the 34% to 50%, who cares it could be 3000% and it shouldn't matter, they give you 56 interest free which means you should NEVER pay interest. If you do get a bank loan they offer much better interest rates, and quite what the bank of england have to do with the apr of a credit card company i don't know.
  
  This card is perfect for people with no credit history as you either prove you are good with money, or in your case, prove to the bigger card company's such as barclays that they were right to refuse you, as you are rubbish with money.