Vanquis Card Application

[ladybird321]

Well I have biten the bullet and just applied for a Vanquis Card!!! After reading several posts about Vanquis on here, I know people have been accepted after receiving their CC and some even before!

Felt quite nerve racking applying. I had a message come up confirming my application and saying they will need to phone me in the next few days for further information (not sure if that is a good sign?). I have my CC, I am off the Involvency Register and my IVA is marked as Satisfied/Discharged on 2 out of the 3 credit agencies, obviously the defaults are still on there, I earm £45K so fingers crossed I will be accepted. I just want a normal credit card to use to build up my credit rating. I know the APR is high but I will be paying it off monthly, after all I have just finshed a harsh 5 year lesson and I won't be going back there!

I will let you know how I get on.

[TheMatrix]

I'd have waited, but hopefully you'll be accepted. Usually when they say that it means they want to check that they can call you and you're reachable on the phone.

I'd go so far as to say anyone that has gone down the road of a IVA/BR is far more likely to remain on the straight and narrow going forwards so risk wise they probably know they are onto a winner.

[ladybird321]

I agree. I just wish the high street banks would have the same approach even if they initially put you on a higher APR and montior you more closely to see how you get on. What gets me is that I am now totally debt free, but they would automatically accept someone who may already be thousands £ in debt. What I find quite depressing is even though you can eventually clean your file, if you get asked the question 'have you ever....' on any application then you are potentially snookered for life. I thought 6 years and bye bye IVA black mark. I didn't know this at the beginning of my IVA but guess it is something that has been introduced since, that said I didn't have a choice aboiut going into the IVA, the only other option would have been bankruptcy.

[Niobe]

Good luck ladybird - hope you get accepted for one.

[TheMatrix]

Yes indeed it is something that has been introduced recently, when I entered my IVA the wording was have you ever been bankrupt. Since then they have changed it to include IVA and more recently it seems "arrangement with creditors".

Moving the goal posts all the time.

[Shining]

Hopefully you'll get acceptance and be able to build up that credit rating. As you say the APR is irrelevant so long as it's paid off monthly in full. x

[Niobe]

I may get one once we've finished the IVA.

[Janey]

Hi Ladybird, I applied for a Vanquis card on Friday evening and they contacted me today and I have been accepted. I did actually think I would be declined but they said yes as I only finished my IVA a month ago. All they did was to go through the questions on the application form again and explain the interest rates. I was very honest with them and said that I intended to pay the balance off every month as I was only using it to improve my credit rating. I have been given a £500 credit limit which is more than I thought I would get, under no circimstances will that be getting used.

[Niobe]

Glad you got accepted Janey - I think I'll be looking at something like that when I've finished.

[Aprilia]

Hope you get accepted! Let us know how you get on. I got my cc too but am too nervous to apply for a vanquis card yet but at the same time I want to start rebuilding my credit.
I know of experian and equifax is it? What is the 3rd agency?

Many Thanks

[Niobe]

It's Call Credit.

[ladybird321]

Hi Janey,

Thanks for the post. It has given me a warm feeling that I just might get one as I am like you, got my CC last month (couple of weeks ago) and I did get the message that they needed to contact me. I take it all your defaults and IVA are still showing on your Credit files? I ask this in case you are one of these poor people that have had to wait over a year for your CC.

I have found out that Vanquis don't check Equifax but they do check Experian, I have just checked and I have a Vanquis search showing...sods law they check the one Credit Agency where my IVA is still showing active and the other 2 are showing Discharged/Satisifed. I can't check Call Credit as I have messed up my password and waiting for a reset. One positive on my credit files is that I have had a long term car lease from Money Barn since Oct 09 and every single monthly payment for £220 has been met on time (all nice and green).

Will let you all know how I get on. Hopefully I will get a call tommorrow or Wednesday.

[Janey]

Hi Ladybird, I haven't checked Experian or Equifax only Noddle and it still shows that my iva is current, a couple of defaults and a late payment. See what they say so please try not to worry too much.

Good luck.

[KAYKAY]

From my experience the phone call is only to check that you are the person who filled in the application, so you shouldn't have any problems whatsoever.

[tonyranks]

got my cc but not going to apply for no credit until my iva drops off the cra after the sixth year....

i have two accounts showing greens on my credit file already, my bank account and phone bill.