Vanquis Card

[smiler1946]

Following on from a post earlier in the week.....
My husband has to pay company expenses for fuel etc and can only
claim at end of the month. We've managed so far but he's only had one meeting this month, we worry in the months/years when there'll be a few meetings/business trips and may not have the funds! Would it be worth applying for the vanquis card or is it likely to be refused ? It would purely be for expenses and the balance would b paid every month. Alternatively my mum has offered to put him on as a second card holder which isn't ideal but an option for emergencies ...Any advice guys...

[Shining]

Not sure you would be accepted while in the IVA but to be honest I'm not sure. Do take the advice of your IP too in respect of this before applying. A second card holder is another good option.

[smiler1946]

Thanks Lesley...does anyone know if the second card holder has to be at same address as primary card holder, would it matter that husbands surname different to main card holder ... it's his mother in law and would the company(nationwide) do a credit search? I've looked on previous posts and seems to be conflicting answers ??? Life would be so much easier if his company would issue him a corporate card or fuel card

[smiler1946]

Sorry following on, if if he was to go as second card holder I just need to be sure it will have no effect on mums credit scoring.

[smiler1946]

.

[Adam Davies]

Hi

If you are still in an IVA you will really need your IPs permission to take out the card. Another option would be to ask for a one month break from your IVA and use this saved payment as a float for expenses.

Regards

[UpToMyNeckInIt]

Hi Smiler,

I am 1 Year into my IVA, and was successful in getting a Vanquis Card with a £500 limit.

(Check your paperwork though. My IVA allows £500 credit - not all do. I need to ask permission from my IP for more than that).

If you are allowed credit, give Vanquis a go - the worst that can happen is that they say 'no'.

Good luck.

[smiler1946]

We are allowed up to £500 credit as stated in our agreement. Would we still need to tell our ip if we did try and apply?
Can anyone clarify my questions with regards to second card holder and credit search and the effect on the main card holders credit ... Would there be any link ???
Thanks

[Shining]

I can't clarify that sorry and to be fair I would keep your IP In the loop at all times whether it's second card holder or a vanquis card of your own even though you have that clause. Maybe that's just me though. One of our experts will be along to give some advice later or in the week.

[UpToMyNeckInIt]

Hi Smiler,

In relation to obtaining additional credit, my protocol-compliant IVA is worded:

'I propose that I shall not incur any credit greater than £500 during the course of my IVA except in relation to domestic utilities and to re-finance a balloon payment at the end of a vehicle Hire Purchase Arrangement without prior written consent of the Supervisor. Should credit greater than £500 be obtained without prior written approval of the Supervisor, this will constitute a breach of the Arrangement'.

I interpret the above as meaning that I can take out £500 in personal credit AND have credit for 'utilities' on top of that. It's only if I needed to obtain more than £500 that I would have to seek consent.

I imagine most protocol compliant arrangements have similar wording, and could be interpreted accordingly.

I stand to be corrected by the experts of course.

[smiler1946]

Thanks guys, would appreciate if anyone could advise on the second card holder issue please ??

[Shining]

As I understand it, a second card holder is just that a named card holder. The main card holder is responsible for the account as in ensuring payments are made on time etc,

However, hang in there I'm sure someone will be able to clarify.

[Shining]

The primary cardholder has sole responsibility for any debt placed on the card by the secondary cardholder.

I got this from a google search and not sure how accurate but MSE has some advice in respect of this too.

[Shining]

Again after further reading not sure if becoming an additional card holder could create a financial association, maybe TheMatrix could answer this for you.

[smiler1946]

Hi Lesley, I googled as well and thought that to b the case. I suppose I just am worried as it'll b mums card I'd hate for any come back on her .... We don't want to do either really but just worry when it's a month my hubby has a few meetings and we've not got the funds to cover expenses !!!! His Work do know about his Iva but no way round his expenses being paid back the month after