Vanquis Credit Card Review
Vanquis is a credit builder card that is designed to help people rebuild their credit history. Vanquis offers a number of cards that can be used for online shopping, dining and buying goods or services overseas. They are also useful for making cash withdrawals at ATMs around the world. Learn more
What happens if I dont pay Vanquis?
The card is easy to apply for, with a simple four-step eligibility check. Customers can then access their account and pay using direct debit, pre-printed giro, or by cheque.
Customers can also manage their account through the Vanquis app for iPhone and Android. This allows customers to check their balance, payment status, and account details at any time. It also helps them stay on top of their credit limit.
When you first open an account with Vanquis, you can choose to either sign up for SMS account management or Internet banking. Alternatively, you can visit a bank branch.
Credit limits start at a low level and can be increased over time. However, if you exceed your credit limit, you may be charged default fees and have your credit score lowered. To avoid these charges, be careful with your spending.
You will need to make sure that you pay the full amount each month. Also, you should be aware that late payments will incur interest. If you don’t make payments on time, it can be difficult to obtain a loan in the future.
As part of your application, you will be asked to provide a full personal and financial history. Vanquis will then carry out a credit reference search.