I am surprised they granted one ! ome ( not all) arrangements allow for credit up to £500 without permission -- but this is not really intended for credit card, but for the likes of car insurance, utilities etc. If you have car insurance you pay monthly you might find you breach the £500 limit. Personally I would close the CC account -- maybe have a chat with your IP first.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Vanquis stopped me in my local shopping centre before Xmas started asking me questions etc etc i replied I'm in an iva thinking they woukd leave me alone but no they said I was the kind of person that would be accepted for this as i could build my credit rating up with it, I let them carry on and they accepted me but I've not rung them to activate it as I can't be bothered and their Apr is a joke lol so I'm sticking to my credit card that I had from before my iva that's still active and will use that to sort my credit rating eventually
Your credit rating will be trashed for 6 years from the start of your IVA. Take care you are not breaching your terms by obtaining creditor without your Supervisors permission. Most standard IVAs have a limit of £500 credit. I'm surprised your credit card is still active.
My IP knew about the credit card at the beginning but it had zero balance on when I entered into the Iva they also got ppi from that credit card too and it's still active, Ive used it twice since we paid our full and final thinking we would have our cc by now only a small amount each time and is paid off ASAP so defo know it's still active.....my catalogue on the other hand was stopped though at the beginning of this month bearing in mind I went into an Iva in July 15 and had 2 catalogues init by the same company but different names as I received a letter in August last year telling me my 3rd catalogue would be closed down if I didn't order anything so I ordered something for £10'not realising anything at all as they were the ones sending me letters to order, paid that off got a few other letters with codes etc I didn't use them so I go to order something small in the new yr as only wanted to try them on really and had to call them to be told they had cancelled my catalogue and had no clue what had gone on and why they let me order before the guy was really confused about it all but said he could see my orders, I wasn't very happy really but understood why was just annoyed that it was them prompting me to order not me trying to scam my Iva in some way by using them
