www.iva.co.uk

Morning all. I was wondering whether anyone with IVAs still on credit files have had any success applying for a Vanquis card recently? I had a "priority" application [:D] through the post, and as I was about to bin it, I thought it might be worth thinking about to start trying to build some sort of history back up. I have posted on here before that I desperately need a credit card for work expenses, as my monthly salary wont cover them, so the only solution I have found so far is to use one of my Dads unused accounts as an additional cardholder. I use it for petrol, hotels, etc, then claim the money back, and pay the card off each month. I would really prefer to have a card in my own name, but what I dont want is to risk them turning me down and having a failed application for credit on my file. So I am torn between risking putting an application in, or just binning the thing...

Vanquis are a high charging card and if you are careful then it can help build history.

However, you may end up paying interest and never the amount on the card.

They are run by the same company, I believe, as the dorrstep lenders Provident.

Though I have gone into an IVA, so obviously I am no good with credit, so would ask myself would I want another card now and start that downward spiral.

The card would be used for work expenses and paid off each month, so the interest rate is not an issue.

If you pay the balance in full each month the interest rate won't be a problem. I had a Vanquis card for a couple of years and it was fine.

Hi

They are a very good company and have won the Credit Today "Credit Card company of the year" four years running

As long as you clear the card each month it can be a very useful tool

Regards

You could try CashPlus. You get a Gold Pre-Paid card which works brilliantly although you do have to pay a monthly Admin fee. In effect, they "loan" you the year subscription, which is put on your credit record. They even give you cash back!!!!

Hay

my IVA is still on my credit file (April this year it will drop off), i applied for a vanquis card last December and was successful. I too was a 'priority' applied over the internet and had the message of 'one of our representatives will contact you', had a call, asked me all the same questions the internet did and approved my card with a £500 limit!

I use it for my petrol each week then pay if off at the end of the month, only using it to build my credit rating back up!

hope this helps
Arty

The one problem I had with Vanquis was their customer service, or lack of it, when I got married. They stopped my card despite telling me they wouldn't and I was basically told it was tough I was left without a card! There was also the constant phone calls - I never did find out what they wanted as I refused to answer the security questions!

Well I decided to try my luck, and once I had submitted the app online got a message back saying they need to speak to me [:0][:0]

I expect they will call me at some point so I will let you know how I get on.

Hiya it's something I plan to do on full completion of my IVA to help rebuild. I'll use it for fuel as per artemschild and pay it off in full every month.

they always ask to speak to the applicant.its just to comfirm details are correct and your the right person.nowt to worry about.my wife has had one for a while now and pays it off every month so no intrest.its a very usefull thing to have in order to build your credit profile back up.

an easy way to build your credit up is to have direct debits coming out of your account.

The only direct debit that affects my credit file is my mobile phone account as all the bills come out of my husband's account which was one of the reasons I applied for a Vanquis card. All my other DDs aren't on there so don't really help.

I got accepted [:I] not sure how much the credit limit is though - once I had told the young lad on the other end of the line that i wasnt buying some insurance he was trying to flog me, he lost interest! I told him the balance would be paid off in full each month, so I didnt need anything to cover outstanding balances if I lost my job, and he said "yes, but it also allows you to miss a couple of monthly payments penalty free". I pointed out to him that the whole point of my applying to vanquis was precisely BECAUSE i had missed payments in the past, so I am hardly likely to want to start doing it again, and thanks but no thanks! only expecting a small credit limit, but thats all i need.

I had the same, i said 'no thank you' 3 million times before they finally accepted me!

usual starting limit is £500!

arty