Phil Woola SMP Blog Vanquis Credit Card Review

Vanquis Credit Card Review

Vanquis credit card helps customers take control of their finances and improve their financial future.

Which Bank owns Vanquis?

Vanquis is a UK-based bank that specializes in offering loans and credit cards to customers with limited or no credit history. Its aim is to give people with poor credit histories access to credit products and build their credit rating back up over time.

Founded in 2003, Vanquis is a subsidiary of the Provident Financial Group and works primarily in service of UK customers with poor, limited or uneven credit histories. They offer a range of credit cards and a fixed rate bond.

Their online application process is quick and easy. You can even receive a decision within 60 seconds.

They have an app to manage your account, make payments and keep track of your transactions. You can also set up direct debits, which is an ideal way to make regular payments on your card.

Credit limit can be increased if you meet certain criteria, such as using your card responsibly and paying your monthly minimum payment on time. However, it isn’t always a good idea to have a higher credit limit as it can lead to default fees and damage your credit score.

A lower credit limit may be a better option if you’re on a strict budget. You can reject a credit limit increase or request Vanquis to lower your card’s limit.

The Vanquis Classic Visa is a credit builder card designed to help people who have bad credit get their credit score up and running. You can find out if you are eligible for the Vanquis Classic by visiting our eligibility checker. It offers a low initial credit limit and a representative APR of 39.9% (variable).

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