Frequently asked questions

All your questions answered.

 

 

If you have a question about a credit card or a personal loan we are here for you. Choose one of the options below for more help.

 

If you are thinking of applying for a credit card in order to build/repair your credit rating you can find out more here.

Credit Card Support

  • Lost or stolen card
  • Financial difficulties
  • Persistent Debt
  • App or Online Banking issues
  • Complaints

Your Credit Card

  • Activating your card
  • Contactless
  • PIN changes & reminders
  • Cash withdrawals

Your Card Account

  • The Vanquis App
  • Credit Limit Increases
  • Updating personal details
  • Interest rates

Card Payments and Transactions

  • Making payments
  • Clearance times
  • Disputed transactions
  • Fraud claims
  • Add or replace a debit card

Credit Card Balance Transfers

  • Transfer limits
  • Terms and Conditions
  • Offers
  • Fees

Personal Loan Support

  • Financial difficulties
  • Eligibility
  • Settlement figure
  • Monthly payments

Credit Card Support

How do I report a lost or stolen card?

Your security is our priority. To report a lost or stolen card, or get a new one, you can do this right away in the Vanquis App. Just:

  • Open your app and go to the 'More' tab
  • Choose 'Manage My Card' and report your card lost or stolen

Your replacement card will take 7-10 days to arrive.

 

If you don’t have the Vanquis App you can ring us on 0800 783 9003 (calls inside UK) or +44 161 444 4495 (calls outside UK). Click here for opening hours and call charge information.

What should I do if I'm having trouble paying my credit card bill?

We’re always ready to help you get things back on track. If you’re worried about going overlimit or missing a payment, click here. You can also ring us on 0330 099 3002 – one of our specialists will help find the solution that’s best for your circumstances. Click here for opening hours and call charge information.

 

You can also always speak to these other independent organisations for free, confidential, and impartial advice:

 

StepChange Debt Charity www.stepchange.org/ - 0800 138 1111

 

Money Advice Service www.moneyadviceservice.org.uk/ - 0800 138 7777

 

National Debtline www.nationaldebtline.org/ - 0808 808 4000

Persistent Debt - what is it and what do I need to do?

This is where you've paid more in interest, fees and charges over the previous 18 months, than you have repaid down your balance. This may be due to you only paying your minimum payment each month, which means it will take you longer to pay back what you owe.

 

We encourage you to pay back more than your minimum amount each month. Paying as much as you can afford to will reduce your balance quicker and mean that you pay less interest. If you're not sure how much you can afford to pay each month, our team are happy to discuss this with you.

 

Having a regular payment set up can also help prevent late payment charges and maybe even over limit charges. You can set up a regular payment amount in the app or via our contact centre.  Please call us on 0330 099 3002 to speak to one of our team. Click here for opening hours and call charge information.

 

For more information on Persistent Debt please click here.

I’m having problems with the Vanquis App.

We’re sorry to hear you’re having some issues; we’ve dedicated a page on our website to help you. Click here to overcome problems with the App.

I’m having problems with Vanquis Online Banking.

We’re sorry to hear you’re having some issues; we’ve dedicated a page on our website to help you. Click here to overcome Online Banking problems.

I have a complaint about my credit card account, what should I do?

We aim to provide you with the very best service at all times, however if something has gone wrong, please let us know so we can resolve it.

 

Call our Customer Services Team on 0333 009 3000. Click here for opening hours and call charge information.

 

For more information you can view our Complaints procedure here.

What do I need to do if the account holder passes away?

Grief and loss can be overwhelming, and the last thing you may want to deal with is finances. Our team is ready to guide you through the practical next steps according to your needs. We’ll ask for appropriate third party information for future contact about the account. We’ll then reach out to that party to deal with the customer’s estate and support you through an account resolution.

 

Ring one of our Account Managers on 0330 099 3000 (click here for hours and call charge information) and we’ll be happy to help.

What should I do if the account holder is in prison?

Please give us a call on 0330 099 3000 so we can help further. Click here for call charge information.

I’ve been impacted by the coronavirus pandemic.

Click here to learn more about how Vanquis is helping customers through the COVID-19 pandemic.


Your Credit Card

How do I report a lost or stolen card?

Your security is our priority. To report a lost or stolen card, or get a new one, you can do this right away in the Vanquis App. Just:

  • Open your app and go to the 'More' tab
  • Choose 'Manage My Card' and report your card lost or stolen

Your replacement card will take 7-10 days to arrive.

 

If you don’t have the Vanquis App you can ring us on 0800 783 9003 (calls inside UK) or +44 161 444 4495 (calls outside UK). Click here for opening hours and call charge information.

How can I activate my card?

Make sure you have your card with you and sign the white strip on the back of your card. Then the easiest way to activate your card is to download the Vanquis App and follow the onscreen instructions.

 

Alternatively, you can give us a ring on 0800 781 9660. Click here for opening hours and call charge information.

 

Don’t forget in order to use your card contactless, you will need to make one purchase using your card and PIN first.

Why is the contactless function on my card not working?

The first time you use your new card or a replacement card you will have to make a purchase using your card and PIN. After this first transaction you should be able to use the card for future contactless transactions. Please remember that you will still be prompted to input your PIN every so often, so if your payment is declined, try it with your PIN.

How can I get a PIN reminder?

If you can’t remember your PIN, you’ll need to request a PIN reminder (if you guess the PIN and get it wrong three times, your card will be locked).

 

Get a PIN reminder for yourself or your additional cardholder with our quick and easy automated service. Just call 0330 099 3000, open 24 hours a day (click here for call charge information).

How do I change my PIN?

You can go to any cash machine that accepts Visa cards, insert your Vanquis card and enter the PIN we sent to you. Then follow the onscreen instructions to change your PIN.

Why is my card not working?

If your card isn’t working or if it was declined, check if it’s still in date. If you’re still having issues, give us a ring on 0330 099 3000. Click here for call charge information.

Can I withdraw cash on my Vanquis Visa credit card?

Yes, you can. Please be aware that we charge a 3% Cash Transaction fee or £3 (whichever is greater). You may also be charged a Non-Sterling/Foreign Transaction fee for each cash transaction.

Can I use my Vanquis card on holiday?

Yes! Although people are travelling a lot less than usual, you can use your Vanquis card wherever VISA is accepted. Click here for more details.

Can I use my card for Apple/Google Pay?

Not yet, but we’re working on that feature. Watch this space and we’ll let you know as soon as it’s ready.

Can I add an additional cardholder to my account?

Yes. You can apply to have another cardholder on your account if:

    • Your account’s been open for 6+ months
    • You have a credit limit of £500+
    • Your account is maintained well
    • Additional cardholder is 18+ years old and a UK resident

Sound like you? Ring our Customer Services team and request an additional cardholder form. You’ll need the other cardholder’s consent to give us their details.

 

Please remember that, even with another person on the account, you will still be responsible for the card and how it’s used (including all transactions). Check your terms and conditions for more information.

Can I make contactless purchases with my card?

Yes, all our cards are contactless and the limit per transaction from 15th October 2021 is £100.

 

To use your card contactless, you will need to make one purchase using your card and PIN first. You will be asked to use your PIN from time to time, we do this to protect your account.


Credit Card Balance Transfers

What is a balance transfer?

You can transfer balances from most UK credit or store card accounts in your name to your Vanquis Bank credit card. If you ask us to transfer a balance or part of a balance from a credit card, we will pay the amount you request (and we have agreed to transfer) to the other lender and transfer this debt to your Vanquis Bank credit card. You cannot make a transfer from another card issued by Vanquis Bank.

How much can I transfer?

The minimum amount is £100. The maximum amount will be a percentage of your credit limit that we will tell you at the time of any introductory offer or promotional rate on your account.

How do I take up my offer?

You need to transfer before your offer expires. You can fulfil your balance transfer through the Vanquis Bank app or by calling our customer service team.

 

We’ll send a payment to your other cards –that debt will then be on your Vanquis credit card. We start to charge interest (if applicable) the same day we transfer funds to your other credit card(s). Your other credit card(s) will charge interest until they apply the payment to your account. So keep making payments until they tell you no more payments are due.

Can I lose my balance transfer rate?

Yes – You’ll be charged your standard interest rate if you fall behind with two payments.

What happens at the end of my offer period?

Any amount left that you transferred will be charged at your standard interest rate.

How do I pay my transfer off?

If you don’t pay your statement balance in full we’ll use any payments to reduce your standard interest rate balances first. If you clear your standard rate balances, you’ll then start to pay off any balances you’ve transferred. If you pay off as much as you can during the balance transfer offer period you’ll reduce the amount of interest you pay.

Can I cancel my balance transfer?

No, once you’ve asked us to transfer the balance, we are unable to cancel the balance transfer.

Is there any fee for transferring a balance?

Sometimes we may charge a Balance Transfer fee. This will be a percentage of the amount you transfer, we will always tell you if a Balance Transfer offer includes a fee.

 

If there is a fee we’ll add the amount you transfer and the fee to your card balance and the balance transfer interest rate will be charged from the date the balance is transferred to your account.


Card Payments and Transactions

How can I make a payment to my account?

We like to keep things simple. Click here for payment options (including painless, automatic payments).

How long do payments take to show on my account?

Your payments will show in the pending transactions screen until they clear.

 

Dependant on how you made the payment there are different timescales for these to clear.

 

If you made the payment on the app using ‘Payit™’ you will see the payment immediately and your available credit will be updated straightaway. Your balance will update on the next working day.

 

If you made a payment using a debit card, allow up to 2 working days for the payment to appear on your account and available credit to be updated.

 

When we take a Direct Debit, you should see the payment update on the date it is taken, this will be the payment due date on your statement.

 

If you pay at the bank or via bank transfer allow up to 5 working days. If you pay in cash at the post office using a giro-slip allow up to 20 working days.

I've just made a payment, why hasn't my available to spend changed?

Your available credit won't update until the payment has cleared onto the account. You can view pending debit card payments in the transactions menu.

I don't recognise a transaction on my account, what should I do?

Please contact our Customer Service team on 0330 099 3000. They will be happy to discuss your query. Click here for opening hours and call charge information.

I have raised a dispute/fraud claim - what happens next?

We aim to come back to you within 14 days of the claim to advise you of the outcome, this could be via an SMS or letter to your account address. These can sometimes take longer to resolve, so keep an eye out for any further requests for information we may send via SMS or post and we will contact you when it is resolved.

My payment declined, what does this mean?

You will need to check if you have sufficient funds in your account as your bank has declined the payment. Please ensure your card has a valid expiry date.

What does ‘pending’ mean?

‘Pending’ refers to the total amount of pending transactions which are still being processed on to your account.

What does 'full amount due' mean when I am making a payment?

The 'full amount due' is the amount we suggest you pay to keep your account in good working order in time for your next statement due date.

What is a Continuous Payment Authority (CPA)?

Having a CPA means we take your payment directly from your account automatically. No more losing sleep over a missed payment. Click here for more information.

I have questions about my Promise to Pay.

We know life can be unpredictable. If you have questions or concerns about your Promise to Pay, feel free to give us a call on 0330 099 3002. Click here for call charge information.

When I make a payment, what gets paid off first?

If your payment doesn’t cover your whole balance, we’ll help you save money by prioritizing the part of your balance that costs you the most interest.

How can I change my payment date?

If you’d like to change your payment date, give us a ring on 0330 099 3000. Click here for call charge information.

How long will it take me to pay off my balance if I only make the minimum payment?

We recommend paying a bit more than your minimum payment each month. This will reduce how much interest we charge you.

Cost of Borrowing
Interest Explained – based on 39.9% APR for a purchase of £250.
To reduce the interest charged we recommend you pay as much as you can when you can and not just the minimum payment. See the example below.
Illustrative example For a purchase of £250 on your credit card
Monthly Payment Minimum Payment each month £50 each month
Without taking into account any introductory rates, how much interest will you be charged in the first year? £74 £27
How much interest will you be charged in the second year? £50 £0
How long would it take to clear the balance? 3 years, 2 months 7 months
The above example assumes the following: The transaction takes place on 1st January and you make no further transactions. Your statement is produced on the 1st each month and you always make the payment each month on the 15th. Your statement is produced 31 days after you make the purchase.

What is Repayment Option Plan?

Repayment Option Plan (ROP) is an optional, paid for part of your account. For more information, please click here.

What if I go overlimit or miss my payment?

If you go over your limit or miss a payment, you maybe charged an over limit or late payment fee. For more information click here. We’re always ready to help you get things back on track.

How do I add a new or change an existing debit card on my account?

It’s quick and easy to add a new debit card or change an existing registered debit card via the Vanquis mobile app. Log in and choose the ‘payments’ option, then ‘register/edit a debit card’. Download the Vanquis App now if you don’t already have it.

 

Alternatively, if you have Vanquis Online Banking you can log in, choose the ‘payments’ option and ‘register/replace payment card’.


Your Card Account

How can I increase my credit limit?

You can’t make a request for a Credit Limit Increase (CLI), we'll let you know when you're eligible for one.

 

We’ll review your account every 5 months and make an offer available to you either in the Vanquis App, or via email and SMS. It’s important therefore to ensure that you have the correct marketing preferences set as you may have asked us not to contact you about an increase.

 

You can check and/or update your marketing preferences using our automated service on 0330 099 3000. Click here for opening hours and call charge information.

 

Choose the option 'manage your account' and we’ll then ask you to verify your details, before presenting more options. Next, choose credit limit queries and then change preferences.

 

You can also find out how you can improve your chances of being eligible for a CLI by clicking Your Credit Limit.

How can I update my phone number or email address?

You can update your phone number or email address from the ‘More’ section in the Vanquis App.

 

If you don't have the Vanquis App or want to change your home address please contact our Customer Service team on 0330 099 3000 who will be happy to help. Click here for opening hours and call charge information.

How do I tell you about my change of address?

If you want to update your home address please contact our Customer Service team on 0330 099 3000 who will be happy to help. Click here for opening hours and call charge information.

Can I get a Money Transfer?

If you want to move funds to your current account, you can give us a ring on 0330 099 3000. Please have your bank details to hand when you call. You can also check the Transfers tab in your Vanquis app. Click here for hours and call charge information.

Can you tell me more about the Repayment Option Plan (ROP)?

The Repayment Option Plan is not currently available to customers who are not already opted-in to it. If you are opted-in you can find out everything you need to know about the plan by clicking here.

How do I know what my interest rates are?

These are shown on your monthly statements which can be viewed online using the Vanquis app or by logging in to our online banking facility.

What is purchase interest?

When you use your credit card in a shop, over the phone or with a retailer online to buy things, it is classed as a ‘purchase’.

 

The variable annual interest rate is the cost of your borrowing as a percentage per year, for purchases, cash transactions and balance transfers made on your card. Interest is charged 1 month in arrears. Therefore, purchases made before the statement is produced will not have interest charged until the following months statement, unless the balance is paid in full and by your payment due date and then no interest is charged.

What is cash interest?

Anytime you use your card to withdraw cash from a machine, transfer money from your Vanquis account to your bank account, buy foreign currency, it is classed as a ‘cash transaction’.

 

When you make a cash transaction (except a Money Transfer) you will be charged a cash transaction fee. This will be 3% of the transaction amount or £3 whichever is greater. Cash Interest is calculated daily from the date of the transaction.

 

For full details on the charges and fees applicable to your account please refer to your credit card agreement.

Where can I view my statements?

You can view up to 12 months of statements in the Vanquis mobile app or Vanquis Online Banking.

How can I receive my statements in Large Print, Audio or Braille?

Your best interest is our top priority. If you need a ‘Reasonable Adjustment’ on your account, such as: your statements in Large Print, Audio or Braille, please:

  1. Call us on 0330 099 3000 (click here for hours and call charge information) or
  2. Write to Customer Service:
    Customer Services
    PO Box 399
    Chatham
    ME4 4WQ

We’ll send your Large Print, Audio or Braille statements free of charge.

How do I close my account?

We’re sorry that you’re considering closing your account, here’s a reminder of some of the features of your Vanquis card:

  • up to 56 days interest-free (on purchase transactions only) where you have paid the whole of your main balance on two or more consecutive current statements in full and on time
  • no annual fee
  • card can be used worldwide, wherever there is a VISA logo
  • amend the payment due date to suit you
  • manage your account and make payments using the Vanquis App or online banking

If you still feel that your Vanquis account doesn’t suit your needs, you can ring us on 0330 099 3000 to discuss closing your account. You will need to clear any remaining balance or interest due before we can close it. Click here for hours and call charge information.

I have closed my account, can I still view my account in the app or online?

You will be able to view your account on the Vanquis app for 90 days after your account has been closed, so if you need copies of any statements etc they are all there. You will also be able to view your account via online banking where there is no time limit to viewing your details.

What can I do in the Vanquis App?

The Vanquis Bank App allows you to:

  • View your balance, pending transactions and available credit to spend
  • View useful information about your payment due date
  • Make one off payments to your Vanquis credit card
  • Register a debit card to make regular payments
  • View your statement summaries and latest transactions
  • Download your last 12 months of statements
  • Set up, view and amend your direct debit
  • Approve or decline your online spend

Click here to learn more.

Is the Vanquis App Secure?

Security is our highest priority.

 

Our log on process requires dual pieces of information to gain access to your accounts and all the information that flows between us and our customers is encrypted. This is also compliant with SCA (Strong Customer Authentication).

What is PSD2 and Open Banking?

Click here to learn more about PSD2 and Open Banking.

Do Vanquis sell customer accounts to third parties?

Under the terms and conditions of your account, Vanquis may sell your account to a third party called a Debt Purchaser (DP). If this happens, your balance will then be owed to the DP and all queries should be directed to them. You’ll receive a letter from the DP advising how much the balance is and what the next steps are. They will work with you to agree the best solution to your current situation.

Do Vanquis use Debt Collection Agencies?

Yes, Vanquis may pass your account to a third party called a Debt Collection Agency (DCA). A DCA is an external company that manage Vanquis accounts on our behalf. They will contact you with an aim of completing an affordability assessment and identifying the best possible solution for you. The DCA has various options available to assist you with your current circumstances. If your account is passed to a DCA, you’ll receive a letter from the DCA advising how much is outstanding and what the next steps are.


Personal Loan Support

Am I eligible for a Vanquis loan?

We offer loans to selected eligible Vanquis credit card customers. If you’re eligible, we’ll let you know via email, SMS or through the Vanquis App.

 

If you’re not a Vanquis Credit Card customer yet you might still be eligible for a Vanquis loan. You can check your eligibility and begin an application through a number of money comparison sites, such as Compare the Market, ClearScore, Experian, Totally Money, Money Saving Expert and Money Supermarket.

What do I need to apply for a Vanquis loan?

You will need:

  • A personal email address
  • Current address
  • Personal monthly income and expenses
  • Your bank details
  • Your debit card details

Am I likely to be accepted for a loan without affecting my credit score?

We’ll check your eligibility for a Vanquis loan during the application, this will give you an instant decision using a ‘soft search’ which won’t affect your credit score. lf your application is approved, we’ll carry out a full credit check which will be recorded on your credit file.

How much can I borrow and over how much time?

If you're eligible for a Vanquis Loan you could borrow up to £5,000 and repay this over a maximum of up to 5 years (60 months). The exact amount you will be able to borrow, and the loan term, will depend upon your personal circumstances.

Can I apply for a joint loan?

No sorry, we don't currently offer joint loans.

If I am accepted for a loan how soon will I get my money?

If your application is accepted and you sign your credit agreement, we’ll transfer your loan to your account within 3 working days.

Are there any set up charges or fees to apply for a Vanquis Loan?

No, we won’t charge you anything to apply.

What should I do if I miss a payment or am having trouble repaying my loan?

We understand that you might face financial difficulties from time to time so if you’re having trouble with your loan repayments, you miss a payment or you think you might miss a payment in the future, give our friendly team a call on 0333 003 5803. Click here for opening hours and call charge information.

 

Missing loan payments could have an impact on your ability to get credit in the future, so we’ll work with you to try and find a solution.

 

If you’re experiencing financial difficulties or would like more information on how to manage your finances, the following organisations can offer you free, confidential and impartial debt advice:

 

StepChange Debt Charity www.stepchange.org/ - 0800 138 1111

 

Money Advice Service www.moneyadviceservice.org.uk/ - 0800 138 7777

 

National Debtline www.nationaldebtline.org/ - 0808 808 4000

Are there any late payment fees?

No, we don’t charge late payment fees. If you’re having trouble repaying your loan, miss a payment or think you’ll miss a payment, view our Managing your Loan page for more support.

How do I make loan repayments?

If you’re an existing Vanquis credit card customer we take your loan repayments via Continuous Payment Authority (CPA) each month.

 

If you’re not an existing Vanquis credit card customer we’ll take your loan payment via Direct Debit each month.

 

Either way your monthly payments will be the same amount every month until the loan is fully repaid. You can choose what date is best to make those payments in your application.

What is a Continuous Payment Authority (CPA)?

A CPA gives Vanquis permission to collect loan payments directly from your debit card.

 

CPAs are simple to set up, all you need are your debit card details. This is not the same as a standing order or direct debit, and we will need more than your account number and sort code.

 

Please have your debit card to hand when you apply, as we’ll need the 16-digit card number, the expiry date and the 3-digit security code on the back of your card. The debit card you use must be in your name and registered to the same address as the one you provide in your application.

 

If your application is successful, we’ll use the CPA to request your monthly loan repayments from your account. You can choose your payment date in the application process.

 

If you want to cancel your CPA, you can either call or write to us. You can also tell your bank or building society that you’d like to cancel the CPA – if you do, or if we’re unable to collect your monthly payment for any other reason, you will still have to pay your monthly amount on the due date.

 

If you do not have enough funds in your account for us to collect the payment on that day, we will make one further attempt to collect it in the following seven days. If the second payment attempt fails, we will let you know. We won’t use the CPA if we have reason to believe that you are in financial difficulty and can’t afford to make the monthly payment.

What is a Direct Debit?

A Direct Debit is an instruction from you to your bank or building society. It authorises Vanquis to collect your loan payment from your account each month. You’ll be given advance notice of the monthly amount and the collection date.

How do I change my payment date or the account from which I am paying my loan?

To update either the collection date or to change the debit card from which payments are to be made, please give us a ring on 0333 003 5803. Click here for opening hours and call charge information.

Can I repay my loan early?

Yes, you can!

 

If you want to settle your loan early, please let us know. We’ll give you a settlement quote so you know how much you need to pay in total, which will be valid for 28 days. The amount will include interest calculated to cover this 28-day period.

 

If you do not settle the loan by the 28th day, you’ll need to request another settlement quote.

 

If you make an early partial repayment (i.e. do not repay the full amount), you can choose if you’d like to pay your remaining balance in a shorter term (keeping your monthly payment amount the same), or reduce your monthly payments (and keep the original term the same). If you make an early partial repayment, we will assume that you wish the term to remain unaltered unless you request otherwise.

How do I request a settlement figure?

You can request a settlement figure by calling us on 0333 003 5803. Click here for opening hours and call charge information.

How do I settle my loan early?

You can transfer your repayment amount to us from another bank or building society. The transfer should be made to the following account:

 

  • Account name: Vanquis Bank Personal Loans
  • Sort code: 560036
  • Account number: 38788713

Please note, the time it takes your payment to reach us may vary, dependent upon the account from which you transferred the funds.

 

Alternatively, you can make the repayment by debit card. Just call us on 0333 003 5803 and provide your debit card details. Click here for opening hours and call charge information.

How do you calculate my interest if I settle my loan early?

Our products operate on a ‘pre-computed interest’ basis – this means we pre-calculate the interest charge for the full term, add that to the amount borrowed, and set the balance at the total amount payable when the loan is issued. Payments are deducted from that total as and when they are made during the term of the loan.

 

When you tell us that you want to settle your loan early, we’ll reduce your balance, effectively giving back the interest we expected to charge for the period after the early settlement. In line with early settlement regulations (Consumer Credit [Early Settlement] Regulations 2004), we retain 28 days interest beyond the date of the settlement request.

 

We’ll provide you with a settlement quote so that you know exactly how much you need to pay. This will be valid for 28 days. If you do not settle the loan by the 28th day you will need to request another settlement quote.

I applied for a personal loan, why have I been declined?

As a responsible lender, it’s important that we consider your circumstances to establish how much credit to lend you. After you apply, your application may go through a credit scoring process, which assesses credit stability and ability to repay based on the information you provide.

 

You have the right to see any information held about you under the Data Protection Act 1998 and the Consumer Credit Act 1974.

I previously had a Vanquis loan, or am partway through a Vanquis loan. Can I take out another one?

No, at the moment we are not able to offer any further lending.

I have a complaint about my loan, what should I do?

We aim to provide you with the very best service at all times, however if something has gone wrong, please let us know so we can resolve it.

 

Call our Customer Services Team on 0333 003 5803. Click here for opening hours and call charge information.

 

For more information you can view our Complaints procedure here.


Applying for a card/building credit rating

Is a credit card suitable for me?

Credit cards can give you more financial flexibility and peace of mind – we live in a digital, contactless world, and credit cards can help you manage your money in a quick and simple way. A Vanquis credit card is especially ideal if you want to build or rebuild your credit score.

 

Before applying, think about whether you can afford a bit more than the minimum payment – this way, you can access a credit card without paying much more in interest. We pride ourselves in helping people get credit if they’ve been turned down elsewhere. If you’re eligible, we’ll lend to you regardless of previous rejections.

If you are looking to purchase a large item and repay over a longer period of time, a personal loan may be more suitable. Click here to learn more about Vanquis loans.

What is a ‘soft search’?

A ‘soft search’ means a lender can check your eligibility for credit without affecting your credit score. When you apply for a Vanquis card, our Eligibility Checker will give you an instant decision using a soft search. If this initial application is approved, we’ll carry out a full credit check which will be recorded on your credit file.

If the soft credit search shows that I can apply for a Vanquis Visa credit card, does it mean I’ll be approved?

Although we can’t guarantee an approval, usually a positive response from the Eligibility Checker is a good chance that your application will be approved.

How does the Vanquis Visa credit card help me build my credit rating?

Here are a few tips to help you build your credit rating and improve your credit score with a Vanquis credit card:

  1. Pay your minimum amount each month. If you can, pay more than the minimum amount (this will reduce how much we charge you in interest)
  2. Don’t miss a payment
  3. Make payments on time (we make this easy with Direct Debits, which you can set to automatically pay your minimum amount so you never miss sleep over a missed payment)
  4. Use the APP to manage your account effectively.
  5. Use your available credit, but not all of it. For example, if your credit limit is £1,000 and you use £500, you’re using 50% of your limit. This will prove to other lenders that you’re not overly reliant on credit.

What will my credit limit be?

We’ll start you on a credit limit between £150 - £1,500. This amount depends on your credit history, financial circumstances and how you are managing your current credit with other lenders.

 

Shortly after opening your account, we’ll let you know what your credit limit is. Depending on how you manage your account and credit with other lenders, we may increase or decrease your credit limit to help you manage your account more effectively.

How do you work out my interest rate?

We calculate an interest rate based on your application info as well as your credit history from credit reference agencies.

If I change my mind, can I cancel my credit card?

Yes, if you change your mind about your Vanquis credit card, you have 15 days to withdraw from your credit agreement and cancel the card. You’ll have 30 days to pay back any interest or outstanding balance on the card. Please refer to your terms and conditions for more information on how to do this.

My application was not accepted. Can you tell me why?

Yes. As a responsible lender, we consider many different factors when we look at an application. We use credit scoring to decide if approving the application is in your best interest or not. Credit scoring produces consistent decisions and is designed to ensure all applicants are treated fairly.

 

If you would like us to reconsider our decision, you can write to us at New Accounts Department, P.O. Box 399, Chatham, Kent, ME4 4WQ and provide any information you think may be relevant. You also have the right under the General Data Protection Regulation 2018 and Consumer Credit Act 1974 to see information held about you.

Do you offer personal loans?

We offer loans to selected eligible Vanquis credit card customers. If you’re eligible, we’ll let you know via email, SMS or through the Vanquis App.

 

If you’re not a Vanquis Credit Card customer yet you might still be eligible for a Vanquis loan. You can check your eligibility and begin an application through a number of money comparison sites, such as Compare the Market, ClearScore, Experian, Totally Money, Money Saving Expert and Money Supermarket.


 

We hope you've found what you were looking for, but if you still need some help, you can contact us.