Vanquish Credit Card Problem

I know several people who had serious problems with Vanquish Credit card, & the way they add interest which , then put's you over your limit, then following month they add overdrawn charges, plus interest.

With Vanquish it can soon spiral out of control, if you want a card, anyone else, BUT not Vanquish.
 
being a vanquish cc owner myself, the Card is for building you credit score nothing more and nothing less. First you should never max your card from what i understand that there should be 10% of your limit left. Credit Card company do not like you to use the whole limit. the interest is based on daily spend over the month it's normally provided on your statement

for example my interest is 2.899 daily rate, my interest was £19 on a £500 limit. Unfortunately because of xmas i almost reached the limit, however i paid £173 quid reducing my balance to £330 which means my interest was cleared. but they calculate the amount outstanding then what ever purchases you make are added. So my interest will be about £20 - £25.
 
My girlfriend has a Vanquis card and I told her under no specific terms should you spend on it more than what you can afford to pay off at the end of the month, otherwise just borrow from me.
 
My girlfriend has one, its the only one she could get due to being dragged into bankruptcy by an ex.

Its a tool to build your credit rating and nothing more, pay off in full every month and it will work.
 
I am just about to try and get one of these cards. I applied for a better mastercard but was declined. I have never owned a credit card because I don't believe in spending what I cannot afford but not having a credit history seems to be just as bad as having bad credit history so I have decided that its time to change that.

Working on that sentiment, what is the quickest way to build up good credit. Do you have to use it a certain amount each month to get the "maximum credit score boost" or will just sticking £100 on it a month be sufficient.

As I say, I am not going to use it for anything other than improving my credit score so any tips.
 
WaynelleUK09 said:
Right where to start got one of these last year, i originally applied for a Argos card to get a few bits for our new flat but got declined not because i have bad credit but because i had got no credit history (just as bad) so argos offered me one of these cards with £200 so i took it as i thought it would help my credit file all been good making payments on time and they have upped it to £1250.

Now a couple month ago the Mrs lost her job and for the month she was looking for a new one this got hammered as my wage isn't great and we hit the limit, now since ive never had a credit card before all this interest and stuff goes over my head, the minimum payments have been about £35 paid it couple days later checked my balance was -£2 though eh wtf rang up went over my head, thought maybe cos the bill came before i had finished spending on the card so all will be good again next month as obviously i cant use the card now. Next bill minimum of £58 so i paid £65 week later i check my account balance now im -£45 so getting a bit worried now i know its only a little debt but i know how these things snowball.

so basically wondering if anyone can tell me wtf is going on in layman terms
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you need to start paying more than the min, as much as possible, if you are that hard up and on a low paid job. Are you or the girl friend on benefits maybe you could try and go to the job center and ask for a hardship loan for say a new fridge etc. use that loan to pay of the outstanding debt and the rest well you'll have to tighten your belt for a while.
 
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