I was reading this thread with interest. I am in an IVA and thinking of applying to Vanquis for a card to use for one-off emergencies, etc. However, I am not sure if any of the enquirers in the thread were in the IVA when they applied successfully to Vanquis. Many thanks!
Hi - i applied successfully for a vanquis card after making my final payment so everything was still showing on my credit file and my IVA was still active. I had no problems getting one with a £300 limit. i have had the card now for 18 months, always paid the balance in full every month and they have twice increased my credit limit - although i don't need the increase, i do believe having a higher limit will help repair my credit file if i use it responsibly.
IVA started Jan 2012
Last payment made June 2014 @100p
Completion certificate received Sept 2014
You can try companies that do a soft search - they'll let you know if you are likely to be accepted but it won't show up on your credit record.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thank you for the replies. I think I will go ahead and apply - I assume Vanquis use the 'soft search' mechanism. Once again, I see the card as a 'last resort'.
Capital one do the soft search - not sure about Vanquis.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I don't think vanquis is a soft search. I had an application in the post today and read the terms etc and it did say that even if the application was refused they would make the application details available to all credit agencies. Then I binned it - too soon for me..
just checked my search history for you; things like insurance companies show up on my Noddle a/c. Vanquis does not, so it must have been a soft search for the card they gave me. They gave me a £500 limit. It was about a month after completing the IVA early, so the defaults still show on my credit file.
I have a Vanquis card that I applied for and got after my IVA completion, not sure I would have wanted one in an IVA. Whilst I'm sure you've thought this through thoroughly do check your IVA proposal in respect of applying for credit just in case, it's against the T&C's of this. I'm in no way saying it is.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Again, thanks for the further responses. Very helpful. I still face the dilemma of going overseas to earn some much needed cash and travelling without a credit card (I get expenses, but then I have to wait...) - I can't take any hits from my fragile and budgeted-to-the-hilt bank account.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Richarddc36
Again, thanks for the further responses. Very helpful. I still face the dilemma of going overseas to earn some much needed cash and travelling without a credit card (I get expenses, but then I have to wait...) - I can't take any hits from my fragile and budgeted-to-the-hilt bank account.
That made me chuckle! "Budgeted to the hilt" [:D]
I'm in the same boat with work expenses. My wife is not in my IVA though her credit rating has been tarnished by me and financial connections. However, she was able to get a Capital One credit card with £1200 limit.
She then added me as a secondary card-holder. They wouldn't give me a card myself, but had no objection to me being a second card holder as the account responsibility still remains with the account holder.
So that gives me a credit card to use for business expenses where I need it. I rarely need anywhere near £1200.
Capital One do a 'hard' search by the way. I know this because I was accepted for a 'Luma' card (which is Capital One). I gave my credit files a moment to settle down and clear up a bit, my Luma card has a £1500 limit from the word go. I've been putting small amounts on and clearing it off in full each month.
Get on Clearscore - they have a feature which shows you which cards you're likely to be accepted for based on your profile. It was this I used to identify the Luma card as the best option for me.
That reminds me, I still have to go to war with Experian as I've found they have fundamentally wrong information on file (wrong postcode) which is a pain. And unless you sign up for the £15/mo service, they won't talk to you. It's email or letter only (with several days delay on the emails!).
They're about to get an acerbic letter, they seem to read what they want to read on the email and reply with a waffly generic reply.
Capital one keep putting adverts on my email address and it specifically states that it is a soft search.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
