www.iva.co.uk

I applied for a vanquis credit card months ago before commencing the IVA process. They have emailed, texted and called me constantly and I've mostly ignored their calls but emailed them to tell them I did not want the card. I continued to get emails saying if they couldnt speak to me I may be declined. Anyway our IVA was approved yesterday and guess what my new vanquis card arrived this morning even though I have never spoken to them. My question is should I cancel it or keep it for an absolute emergency? I know I am allowed up to £500 credit and the limit is £500 but part of me feels that this is how I got here in the first place and the other part of me is scared stiff of having no emergency credit

I personally would return it saying thanks but no thanks. Others may think it's a good idea to keep it for emergencies.

Purely a personal opinion, but, in this position I would return the card. Vanquis do have their place, alongside other credit cards, but you must break away from the crutch this can provide and form new, healthy, financial habits, learning not to depend upon a credit cushion.

Thanks Foggy and Lesley I know you're right its just a panic thing. I will send it back tomorrow.