The key info
Build and maintain your credit score long term with the Vanquis Credit Builder Credit Card.
With this credit card, you could:
- Improve your credit score, if you manage your card responsibly (paying on time, no going over your credit limit)
- Get a personalised credit limit between £250 and £2,500
- Manage your account 24/7 in the Vanquis app
- Enjoy a free soft eligibility check, that doesn’t harm your credit score, when you apply for our cards
Representative
37.9% APR (variable)
Your APR and credit limit may vary based on your circumstances.
Proud winners of Moneyfacts Best Credit Builder Card Provider 2023 and 2024
You can apply if you
- are over 18
- live in the UK
- do not already have an Aquis, Chrome, Origin, Vanquis, Thimbl or Granite Credit Card
- are not currently bankrupt and do not have an active Individual Voluntary Agreement (IVA)
What you'll need
- Address details for the last 3 years
- Contact details
- Employment details
- Details of your monthly income
- An idea of how much you spend each month
- Your bank account details
Benefits of the Vanquis Credit Builder Credit Card
There are many benefits to using the Vanquis Credit Builder Credit Card, including:
A credit limit to suit you
As a new customer, you’ll be given a personalised credit limit that could be increased over time by showing a track record of good account management.
After completing our eligibility check, and if you’re accepted, you’ll be given a limit that’s both suitable and manageable.
You may be eligible for an increase to your credit limit every five months, depending on how consistently you’ve met your monthly repayments. To understand more, call our team today.
No annual fee
With a Vanquis Credit Card, you don’t pay any annual sign-up fees. You only pay transaction fees for withdrawing cash, using your card in a foreign currency and balance transfers.
See our complete list of fees and charges for more information.
Reduce your interest rate with regular repayments
When you meet your minimum repayments, or demonstrate you can pay off your debts completely at the end of each month, don’t miss deadlines and avoid going over your credit limit, you might find your credit score improves over time.
A more robust credit file could see you approved for a broader range of cards, including those with lower interest rates, as you could be viewed as more creditworthy in the eyes of lenders.
Seamless online banking with our app
Our app lets you check your balance, make payments, view credit limits & charges and track your spending at the touch of a button. This could be a good way to help you stay on top of your finances.
Who are credit builder credit cards for?
The Vanquis Credit Builder Credit Card may be suitable for those looking to improve their credit score and build a credit history.
Whether you’ve survived a financial rocky patch and are looking to get things moving in the right direction, or you’re just getting started on your credit journey, our Vanquis Credit Builder Credit Card is designed to help you access credit and build or repair your score.
How can I get a credit builder card?
To get a Vanquis Credit Builder Credit Card, you must start by applying.
When you apply, we’ll run you through our soft eligibility checker. This gives you a rough idea of the credit limit, interest rate and minimum monthly repayment you can expect if you’re eligible.
If you decide to go ahead with your application (which includes a “hard” credit search) and are accepted, you’ll receive your card in the post. You can then download the app and you’re ready to begin your journey to better credit.
Using your new Vanquis Credit Builder Credit Card
Using your card is straight forward; but to get the most out of it, a couple of simple things are worth remembering.
- Make your payments on time
This is really important, because late or missed payments could damage your overall credit file. Don’t worry, setting up an automatic payment instruction like a Direct Debit or Standing Order can help make sure you never miss a payment. Why not use the Vanquis App to keep on top of your payments?
- Pay more than the minimum amount
If you can afford to, it might be a good idea to pay more than just the minimum amount on your balance each month. That’s because the more you can pay off each month, the less you’ll need to pay in interest. It can also help if you’re able to pay off the full statement balance each month, if this is affordable.
- Charges for withdrawing cash or using your card abroad
Credit builder cards aren’t designed for making cash withdrawals. Doing so means you’re likely to be charged an extra fee. The same might also apply when using your card abroad. For this reason, we recommend that you read all your card’s terms and conditions before you use it.
How does a credit builder credit card work?
Credit builder credit cards are designed to help people improve their credit score or build it up from scratch.
They usually come with a lower credit limit and a higher interest rate, which means you might pay more interest on outstanding balances. However, if used responsibly, making sure to pay at least the minimum amount on time each month and staying within your credit limit, these cards can help improve your credit score over time.
To find out more about how credit builder cards work, visit our product page.
Why is building my credit score important?
Your credit score is one of the key metrics banks may use to determine how good you are with money, especially when it comes to borrowing and making timely repayments.
Having a good credit score is therefore crucial when it comes to being granted major loans, including mortgages and car loans, while also meaning you’re more likely to be approved for services that may use on-going payments, like phone contracts and internet plans.
It can also open up a wealth of opportunities, including higher credit limits for larger purchases, better financing options for things like car leases and phone plans, and lower APR on future cards and loans. Just make sure you keep on top of your repayments.
Why choose Vanquis?
Vanquis Bank, part of the Vanquis Banking Group, has been providing bespoke credit offerings to its customers and helping people handle their finances for over 140 years.
Our thorough “soft” eligibility checks help provide confidence that customers will only be accepted for a credit card if they’re deemed able to make the repayments and are suited to the APRs issued, protecting you and others from mounting interest.
We work hard to make sure our credit cards are easy to apply for and simple to manage. Don’t want to take our word for it? Check out our Trustpilot reviews to read what our customers say.
Over 5 million people have already been accepted for a Vanquis Card. Why not join them and apply online today?
FAQs
Can I get accepted if I have had bad credit before?
Yes, you could be accepted if you’ve had bad credit before and improved it over time.
If you currently have poor credit, you could still be accepted for a credit card. However, the range of credit cards on offer are likely to be more limited and you may be subjected to higher interest rates and lower credit limits.
What happens if I am rejected for a credit builder credit card?
If you’re rejected for a Vanquis Credit Builder Credit Card, don’t worry. There are things you can do to repair your credit score.
Alternatively, you could sign up to a free credit-checking service, like Experian, or see your credit score in the Snoop app. You could also consider taking an eligibility check with your lender before you apply.
Why does my credit record matter?
Credit reference agencies use your credit history and other factors to give you a credit score. This is used to understand how well you manage money and if you can afford to repay what you owe.
Having a bad score or no credit record may restrict your ability to get credit cards, get approved for mortgages and even be granted other types of lending that require a credit check, like some phone contracts and broadband provisions.
This does mean that many lenders turn down applications with little or bad credit history. However, they may offer a credit card with a much higher APR to protect against the potential risk of missed repayments.
How do I repay my credit builder credit card?
Repaying your debts is simple and easy to do.
When you’ve spent money on your Vanquis Credit Builder Credit Card, you can simply transfer the money from a debit or savings account to the value of your minimum payment, or however much of the debt you want to repay at the time (as long as your minimum payment is met each month).
To make sure you never miss your minimum payment, you can set up a Direct Debit that will take your minimum payment each month, on the day it’s due. This can also be set up to take your full balance, a fixed amount or a percentage of what you owe.
Find out more in our guide on ways to pay.
How long does it take to improve your credit score?
If you have no credit history and are looking to build a good track record of credit, it can take up to six months to generate a reasonable score, and potentially longer to achieve a good or excellent score.
Good financial practice over time, like promptly repaying credit, meeting at least your minimum repayment and not exceeding credit limits, can speed up the process of improving your credit score.