Vanquis Bank Credit Card Review

Overall Rating

easily accecpted for card

increased my APR from 34% to 54% after I accidentally breached my terms and conditions.

WARNING! DO NOT GET A VANQUIS CREDIT CARD. I have had so many problems with this company. 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 and exploit people.
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 exploitative and rude company.

Members' Comments onGuest's Review

• mark page on 22nd Sep 2009

  I found this review very helpful because...it has made me aware that i should be extremely cautious when using vanquis.

• weemantam on 22nd Sep 2009

  I found this review helpful because I do card swapping every few years and I'll remember Vanquis based on this review... [eyes shiftily side to side]