Vanquis Credit Card Review

Providing credit to customers in the UK, the Vanquis credit card supplies credit for those with bad credit ratings or who have been refused credit in the past. The Vanquis card is provided by Visa. It starts you out with a limited credit line, then increases the credit line after a set number of statements. If you pay your statements regularly and reliably, your credit limit will increase, and the card will help you rebuild your credit history so that you will be more likely to secure credit in the future. In general, the card's credit limit increases about every four months, though this figure is subject to change, as well as subject to certain limitations and requirements.

The Vanquis bank is located in the London area. The parent company, the Provident Financial Group, has been in business for nearly a century and a half, making it one of the older companies in the UK. This long history and overall stability means the Vanquis credit card is likely to be supported long term, giving you a stable credit line with which to meet your financial needs and rebuild your credit history. You can apply for the card online and receive a quick response regarding acceptance. Vanquis also provides a call centre for customer service if you have any issues with the card.

The major disadvantages to the Vanquis credit card are its low credit line and high interest rate. However, considering that the card is targeted at those with credit problems, this is not unreasonable in many ways. In addition, since the credit line can increase over time, if you manage your finances well with this card, the disadvantage of the low credit limit will be temporary. If you have had major credit problems in the past, this might prove to be a good way to rebuild your credit history, enabling you to manage other long term financial needs.