The range of unsecured Visa credit cards from Vanquis Bank have become some of the most popular cards in the UK for those people who are applying for a credit card for the first time or who have some previous bad credit history. There are currently 3 different credit cards available which are detailed below.
Vanquis Bank was established in 2002 and is part of the Provident Financial Group. It is a UK based bank with a UK based call centre and it has helped over 3.5 million people (as of September 2017) who are new to credit or have been turned down for credit in the past.
Who can apply?
Anyone over 18 who is a UK resident.
Even if you’ve been turned down for credit in the past it is still worth applying. The application process takes just a few minutes. Make sure to have all your personal, work and financial details at hand. If you apply online you should get a response within one minute. If they need to talk to you about your application, they’ll normally call you within 15 minutes of your application being submitted.
What is your credit limit?
Credit limits start from between £150 and £1000 rising to a potential £4000 depending on which card is applied for.
Where can I use my card?
You can use your credit card anywhere you see the Visa sign whether it is online, on the phone or at a point of sale terminal in a shop.
How do I manage and make payments into my account?
Your Vanquis Visa credit card account can be managed using a variety of methods.
You can now access your account directly by using the Vanquis online site (eVanquis) where you can make payments to your account using a debit card and also view your transactions, account balance and statements.
To check your balance you can also call Vanquis 24 hours a day, seven days a week.
You can also choose to receive a paper monthly statement.
You can also make payments into your account by using your own bank’s telephone or online banking service and over the counter at a bank or Post Office or by post using a cheque. The Post Office will charge a fee as will a bank if it is not your own.
If paying at a bank, Post Office or by mail then you should use the Giro slip that is attached to your monthly statement.
Other benefits of the Vanquis Visa credit cards:
If you have had your card for at least 6 months, have at least a £500 credit limit and have a good payment history then you can add an additional cardholder to your account.
If you pay your account regularly and on time your credit history will automatically be improved.
There are also no annual fees.
Our verdict on the Vanquis Visa credit cards:
These cards are perfect solution for those looking for a first credit card or those with some previous bad credit history. Credit limits are low and interest rates are high but this is normal for a higher risk credit card. In the long run it will help you build your credit history if you make your repayments on time.
Currently there are three different Vanquis credit cards available:
1. Vanquis Visa Classic Credit Card
Representative example:
Representative 39.9% APR variable. Based on assumed borrowing of £1000. Rate of interest 39.9% (variable) annual.
The Vanquis Visa Classic credit card is aimed at those who have some form of bad credit history or a poor credit rating which is reflected in the relatively high APR of 39.9% (variable). The adverse or poor credit rating could be in the form of CCJs (county court judgments), defaults, a poor payment history, being discharged from bankruptcy, not being at a current address for long enough or not being in full time employment.
What the Vanquis Visa Classic credit card offers:
- An initial credit limit of between £150 and £1000.
- Possible credit limit increase after 5th statement with further increases every 5 months up to a potential £4000.
- UK based customer call centre.
- Online account access and management.
- Telephone and text account management.
- Pay monthly bill online/by phone using debit card or at any bank or UK Post Office.
- Paper monthly statements available.
- No annual fee.
- Great for rebuilding your credit rating.
- Potential to add additional cardholder to account.
2. Vanquis Visa Aquis Credit Card
Representative example:
Representative 29.8% APR variable. Based on assumed borrowing of £1000. Rate of interest 29.8% (variable) annual.
The Vanquis Visa Aquis credit card is designed for those who wish to build or rebuild their credit history. The initial credit limit is slightly higher and the APRs lower than for the Vanquis Visa Classic credit card.
What the Vanquis Visa Aquis credit card offers:
- An initial credit limit of between £250 and £1000.
- Possible credit limit increase after 5th statement with further increases every 5 months up to a potential £4000.
- Online account access and management.
- Text and telephone account management.
- Pay monthly bill by phone/online using debit card or at any bank or UK Post Office.
- UK based customer call centre.
- Paper monthly statements available.
- No annual fees.
- Potential to add additional cardholder to account.
3. Vanquis Visa Chrome Credit Card
Representative Example:
Representative 24.7% or 29.3% APR variable. Based on assumed borrowing of £1000. Rate of interest 24.7% or 29.3% (variable) annual.
The Vanquis Visa Chrome credit card is designed for those who want to build a strong credit rating and improve their credit score. The APRs are lower and the initial credit limit slightly higher than for the Vanquis Visa Classic credit card.
What the Vanquis Visa Chrome credit card offers:
- An initial credit limit of between £250 and £1000.
- Vanquis Bank’s lowest APR credit card.
- Possible credit limit increase after 5th statement with further increases every 5 months up to a potential £4000.
- Online account access and management.
- Telephone and text account management.
- Paper monthly statements available.
- UK based customer call centre.
- Pay monthly bill online/by phone using debit card or at any UK Post Office or bank.
- No annual fees.
- Potential to add additional cardholder to account.
The Classic, Chrome and Aquis Visa Cards are issued by Vanquis Bank Limited. Vanquis Bank can be contacted at its registered office, which is at No. 1 Godwin Street, Bradford, West Yorkshire BD1 2SU. Registered number 02558509 England. VAT number 180555952. Vanquis Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 221156)