Bad Credit Credit Card From Vanquis
By Hillary Smith • May 8th, 2008 • Customer Rating
(3 votes, average: 4.67 out of 5)
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We’ve all been there. We’ve all missed paying a bill or two. Or if you’re like me, you missed a few loan payments when you were younger and hadn’t much idea about personal finance. Over 80% of people in the UK have poor credit histories and as a result, cannot get a credit card. Fortunately, there is a solution…
The Vanquis Card was designed for those who quite simply need a second chance. While it’s not for those of you who are bankrupt, it is for those who have a few blemishes on your credit history. This is an ideal way to improve your credit standing and especially ideal for those looking to buy a house in the next year.
What are the pros?:
- Highest acceptance rate of any UK credit card
- Perfect for those of you with bad credit
- ANY poor credit applicants considered
- High interest rate not charged if you pay on time (Thank God!)
- Repairs your credit over time
- Approval in ONE MINUTE (Might as well give it a try)
What are the cons?:
- A pretty much as expected higher interest rate than the average card at 39.9% APR
*** A word of warning: If you have bad credit, this is pretty much your last chance. Use this oppertunity to repair your credit. Do NOT use this card to pay off other bills!
Hillary Smith is a director of consumer affairs at the credit watchdog and editor for EndorsedCards. Hillary has dealt with literally hundreds of credit related court cases spends her time either writing for the consumer watchdog.
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I know I rarely do this but I would just like to say add in a personal comment here. This card has been around a long time. In fact, I have used it myself when I had problems many years ago. It’s fantastic at getting you out of a credit “hole” but please please please be responsible with this card. The interest rate is very high and you should ONLY apply for this card if you are certain that you can pay back whatever is owed on it EVERY MONTH.
Good Luck!