Quizzes & Puzzles3 mins ago
As A Discharged Bankrupt..
8 Answers
I've been thinking about trying to repair my Credit Score. I did a Moneysupermarket search of the companies who would consider me and everyone came up, "Not Eligible."
I thought, "fair enough".
However, in the post this morning was a letter from Vanquis saying I had been Pre-Selected for a card. I understand these sort of letters go out all the time and it was probably triggered by the MS.com search. I was planning on just using a card to buy my petrol each month and clear the balance in full.
Does anyone think they will give me a card, or is this just going to be another search of my Credit Report, which can be damning too?
Thanks.
I thought, "fair enough".
However, in the post this morning was a letter from Vanquis saying I had been Pre-Selected for a card. I understand these sort of letters go out all the time and it was probably triggered by the MS.com search. I was planning on just using a card to buy my petrol each month and clear the balance in full.
Does anyone think they will give me a card, or is this just going to be another search of my Credit Report, which can be damning too?
Thanks.
Answers
Best Answer
No best answer has yet been selected by chrissa1. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.I get those Vanquis offers. (They generally seem to target people with low credit ratings).
I'm reasonably confident that they'll give you a card (with a very low credit limit initially) but with very high interest rates. Of course, as long as you repay all (or most) of what you owe each month you won't pay a great deal of interest anyway but you'll still start to repair your credit rating.
At one time the big catch with Vanquis was that they applied a hefty annual charge to their cards but the most recent offers I've received have been for cards with no annual charge. (All the same, read the small print carefully before you sign up!).
Capital One would also be likely to offer you a Classic MasterCard:
http:// www.cap italone .co.uk/ creditc ards/cr edit-ca rd-rang e.jsf
Chris
I'm reasonably confident that they'll give you a card (with a very low credit limit initially) but with very high interest rates. Of course, as long as you repay all (or most) of what you owe each month you won't pay a great deal of interest anyway but you'll still start to repair your credit rating.
At one time the big catch with Vanquis was that they applied a hefty annual charge to their cards but the most recent offers I've received have been for cards with no annual charge. (All the same, read the small print carefully before you sign up!).
Capital One would also be likely to offer you a Classic MasterCard:
http://
Chris
Just found this on the Vanquis website :-
Important: Credit is subject to: status; telephone contact; confirmation of name and address; not already holding a credit card issued by Vanquis Bank; no reasonable suspicion of fraud, and is only available to UK residents who are at least 18 years of age and are not legally restricted from obtaining credit e.g.because of bankruptcy. Please read the Summary Box and Terms and Conditions for full financial details.
Important: Credit is subject to: status; telephone contact; confirmation of name and address; not already holding a credit card issued by Vanquis Bank; no reasonable suspicion of fraud, and is only available to UK residents who are at least 18 years of age and are not legally restricted from obtaining credit e.g.because of bankruptcy. Please read the Summary Box and Terms and Conditions for full financial details.