www.iva.co.uk

Hi just a thought.... when trying to re-build your credit rating, this forum indicates that a vanquis card is a good way to start.

Would 2 months following final payment be sufficient time to leave before applying or would you need to have your certificate of completion before you apply for the card. Early days for me, as only just made final payment, but would be interested in your views.

I personally don't know but know some of our posters have the card so it will be worth hanging in there to get their responses. I believe it's a good tool to try and help re-build our credit ratings when paid off in full every month. x

I applied early May 2011 having waited for a month after receipt of my completion certificate, my completion had been shown correctly on CRA's and I was accepted straight away.

Regards

iv'e also noted that on there web site there is no mention of iva's just bankruptcy,ccj's,no credit history.
why is there no info on how we would fair?

I have noticed this too.

Hi KAYKAY

I finished my IVA in May and have yet to receive my completion certificate..I applied for a vanquis card a few weeks ago and got accepted straight away. I plan to use it to rebuild credit and will only be using it for petrol and will be clearing the balance every month as the interest rate is around 39%!

Red wrote:

Hi KAYKAY

I finished my IVA in May and have yet to receive my completion certificate..I applied for a vanquis card a few weeks ago and got accepted straight away. I plan to use it to rebuild credit and will only be using it for petrol and will be clearing the balance every month as the interest rate is around 39%!

Thanks for that Red. That is what I will be planning to use the card for, should I get accepted. Just need to pluck up the courage to apply.

Hi
Go ahead, you will most probably be accepted. They usually accept on the condition that they call you and confirm details. You will receive a very small credit limit initially.
They have been voted credit card provider of the year three years running and do have an excellent customer service dept.
The APR is high, and you can understand why, but if you clear your balance every month it really doesn't matter how high it is !!!

Good Luck

Regards

Hey everyone!
Wow!! I applied online yesterday and called up today to confirm details and was accepted straight away. They even offered £200 cash advance (said no)
I did'nt think i would get one when the IVA still shows as active on my file and im still awaiting the completion certificate.

This is great for building up my credit rating.

Thanks for this post everyone:)

Great news steevo!

That is good news. I will be applying for one post October 2013 when my IVA finishes so I can rebuild my credit. Use for Food probably and pay off in full before have to stump up interest at 39% APR!!

Ive had a Vanquis card since my iva was completed.It gives you independence and the confidence to manage your budgets post IVA.In a way you did,nt pre iva i get a lot of satisfaction clearing the balance when i use it from time to time.

I remember the satisfaction I used to get clearing my balance before I got into problems. Can;t wait for that feeling. Living within my means makes me feel so good.

The only downside may be that if your only credit history is to a high apr credit card then someone doing a credit check may add 2 and 2 and come up with dodgy credit history. It will however if used correctly show a history of on time payments.

Paul

Facing upto debt problems and asking for help,is the first important step,it does,nt seem that long ago i was in turmoil.So relieved now i got help.