What we think of it...

CREDIT card issuers are a fickle bunch, and if you're one of the millions of Britons with a history of bad debt, credit problems, CCJ's or simply no credit history at all, then you'll probably be well accustomed to their polite brush-offs.

Finally, there is a credit card aimed specifically at those of us who've always been told to talk to the hand because the face ain't listening! The Vanquis Visa credit card.

With an eye-watering APR and a credit limit that wouldn't fill a trolley very high at Marks and Spencer, this is not a card for painting the town red. It is, however, a generous and extremely rare opportunity to claw your way back up the credit score league table.

Vanquis Bank - the issuer of the card - explain that the high interest rates and low credit limit are indicative of the risk they're taking in offering the card to just about anyone (in many cases with an instant decision online). Users of the card report that Vanquis offer better than usual customer contact, so appear to be taking their role as responsible lenders seriously.

Use the card responsibly, and pay it off diligently every month and before long you'll be climbing your way back up the credit score ladder.

A little more detail

Rates and Fees

			Special Note..	Any good?
Typical APR		39.9% APR (variable) -	-
Balance Transfer Rate		39.94% p.a.	-
Balance Transfer Fee		None	-
Cash Withdrawal Rate		46.19% p.a. (variable)	This rate is also charged on cheques.
Cash Withdrawal Fee		2.5% (£2.5 minimum)	This fee is also charged on cheques.
Annual Fee		None	-
Foreign Transaction Fee		2.75%	-

Extras

			Special Note..	Any good?
Online Account Management		No	-
Fraud Monitoring		Yes	-
Other Extras	-	Free additional cardholder, chip and PIN	-

Payments

			Special Note..	Any good?
Credit Limit		£250 - £2,000.00	-
Interest Free Period		Up to 56 days	For purchases only, where you have paid off two or more consecutive current statement balances in full and on time. There is no interest free period on cash withdrawals or cheques.
Minimum Monthly Payment		5% (£5 minimum)	-
Allocation of Payments		Interest » Fees » Charges » Balance Transfers » Purchases » Cash and Cheque Transactions	-
Default Charges		£12	-

Card Details

			Special Note..	Any good?
Online Application	-	Yes	-
Card Type		Classic	-
Payment Company		Visa	-
Card Issuer		Vanquis Bank	-
Card Advertiser		Vanquis Bank	-

At a Glance

Typical APR	39.9% APR
Credit limit	£250 to £2,000
Balance transfer	39.94% p.a. Free transfers
Interest free period	Up to 56 days
Annual fee	£0

	This card includes:
	Instant Decision Online
	Poor Credit History Suitable
	It is best suited for:
	Rebuilding and strengthening a poor credit score by using the card diligently to demonstrate you can be trusted with credit. Also suitable for people who are new to credit and have no credit history at all.
	Wait! Only apply if you are...
Aged 18 or over UK resident

More about this card...

Having a poor - or non-existent - credit history can sometimes feel like you're caught up in a classic Catch-22 scenario. You want to prove that you can be trusted with a credit card, but nobody is willing to give you the chance to prove it.

Well, the Vanquis Visa credit card is, without a doubt, your wingman into improving your credit score and working your way back to the point where banks say yes, rather than politely gesturing towards the door.

What this card is not
The one thing you must remember about the Vanquis Visa credit card is that this is not a ticket to wild days at the shopping mall. Nor should it be seen as a handy loan of £250 or whatever credit limit they decide to offer you.

The Vanquis Visa credit card should be seen as one thing only: an opportunity to step back onto the ladder of credit-worthiness.

So why not use it like all the other lucky people whose wallets bulge with different shiny platinum cards? Because the APR for purchases on this card is almost three times higher than the average high-street credit card. If you're unable to pay your balance off in full each month, you'll find yourself spiralling back down the poor credit hole.

And don't ever even contemplate using this card to withdraw cash, use abroad or utilise one of their credit card cheques they may send you from time to time. With an APR on cash advances that'll make your eyes water (coupled with the fact that interest for these kicks in immediately) this is a sure-fire way to run yourself into financial difficulties.

Repaying what you spend
To improve your credit score you should use the card often, but always pay it off in full before it has time to start charging you interest.

We're happy to see that the Vanquis Visa credit card gives you the option to pay monthly, fortnightly or weekly. This is especially useful for low income earners, or those who budget on a weekly or fortnightly basis, rather than monthly.

The Vanquis Visa credit card does have a higher minimum repayment amount than normal credit cards, at 5% of the balance total or £5. This forces you to pay off your outstanding balance much quicker, and thus prevent you slipping into unmanageable debt.

Final word
No, the Vanquis Visa credit card is not the best credit card for wild nights in Vegas, but when you're being knocked back by every lender this side of the English Channel, it comes out as the very best - and probably only - card available to you.

With its high APR and low credit limit, Vanquis Bank can afford to offer this card to just about anyone, no matter what their financial history. For the cardholder who uses this card sensibly, this presents an almost unique opportunity to improve a ravished or non-existent credit score.