Vanquis Visa Classic credit card review September 2019

Designed to help build or rebuild your credit history, the Vanquis Visa Classic credit card offers manageable starting credit limits plus SMS account management.

Finder rating: ★★★★★

Representative example: When you spend £1,000 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% APR (variable).

39.9%

Representative APR

£0

Account fee

Up to 56 days

Interest-free each billing period

£150

Minimum credit limit

Details

IssuerVanquis Bank
NetworkVisa
Annual/monthly fees£0
Min. credit limit£150
Max credit limitSubject to status: £1,000
Credit limit noteIncreased to £4K if account held correctly.
Purchases39.94%
Purchases interest-free period (days)56
Additional cards available1

Expert review

Chris Lilly

Review by


Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.

Expert review

Credit builder cards like the Vanquis Visa Classic are designed to help borrowers with limited or bad credit to kickstart a positive credit history. To do this you’ll need to use your credit builder card sensibly – staying within your credit limit and paying at least the monthly minimum payment on time, while keeping other credit accounts in good order and not taking on too much debt elsewhere.

Used responsibly, any credit card should have a positive effect on your credit score, but these specialised cards are generally easier to get approved for and often come with features designed to help protect and build credit. With the Vanquis Visa Classic, for example, you can schedule text or email alerts and can set up a direct debit to ensure you never miss a repayment.

Like most credit builders, the Classic card comes with a higher-than-average interest rate, but if you pay off your balance in full each month you’ll be able to take advantage of the card’s grace period of up to 56 days of 0% interest on purchases each billing cycle (this doesn’t apply to cash advances).

Perks tend to be few and far between with credit builders, but if you refer a friend to Vanquis you could pocket a cool £25 reward.

How does this deal compare?

Table: sorted by representative APR, promoted deals first
Updated September 20th, 2019
Name Product Annual/monthly fees Min. credit limit Max credit limit Min income Rep. APR Incentive Representative example
£0
£250
Subject to status: £1,000
Not specified
24.7%
Stay in control of your account with online servicing, a mobile app, SMS and email alerts.
Representative example: When you spend £1,000 at a purchase rate of 24.7% (variable) p.a., your representative rate is 24.7% APR (variable).
£0
£500
Subject to status: £1,500
£15,000
24.9%
No fees for making purchases or withdrawing cash abroad – currencies are converted at the standard Mastercard exchange rate.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
£0
£250
Subject to status: £1,000
Not specified
29.3%
Representative example: When you spend £1,000 at a purchase rate of 29.3% (variable) p.a., your representative rate is 29.3% APR (variable).
£0
£250
Subject to status: £1,000
Not specified
29.8%
You could get a credit limit increase after your 5th statement and further increases every 5 months, up to £4,000.
Representative example: When you spend £1,000 at a purchase rate of 29.84% (variable) p.a., your representative rate is 29.8% APR (variable).
£0
£100
Subject to status: £600
£10,000
34.9%
Earn Asda vouchers every time you shop - 1% cashback on all Asda spend, 0.2% on all other transactions. Once £2.5 is earnt a voucher can be downloaded to spend in Asda stores.
Representative example: When you spend £1,200 at a purchase rate of 34.9% (variable) p.a., your representative rate is 34.9% APR (variable).
£0
£150
Subject to status: £1,000
Not specified
39.9%
Representative example: When you spend £1,000 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% APR (variable).
£0
£500
Not specified
Not specified
26.9%
Representative example: When you spend £1,200 at a purchase rate of 26.95% (variable) p.a., your representative rate is 26.9% APR (variable).
£0
£250
Subject to status: £1,500
£5,000
27.5%
Collect 1 Tesco Clubcard point per £4 spent (£4 minimum) in Tesco and 1 Clubcard point per £8 spent (£8 minimum) outside Tesco in each purchase transaction.  Must have available credit to collect Clubcard points. Clubcard points are turned into Clubcard vouchers every 3 months or sooner using Faster Vouchers. Clubcard vouchers can be used in Tesco or with Clubcard Reward Partners to get even more value on dining out, hotel stays and travel.
Representative example: When you spend £1,200 at a purchase rate of 27.542% (variable) p.a., your representative rate is 27.5% APR (variable).

Compare up to 4 providers

Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (0330 099 3000), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

How to apply for the Vanquis Visa Classic credit card

If you’ve compared cards and decided that the Vanquis Visa Classic is the card for you, it’s straightforward to apply online, and you’ll typically get a response within one minute. Before applying, you can check your likelihood of acceptance in around two minutes. Vanquis uses a “soft credit search” to do this – meaning your credit score won’t be affected. If Vanquis needs to talk to you to discuss your application, you’ll normally be called within 15 minutes of your application being submitted.

The entire process takes between 10-14 days – from you submitting your application to the physical card arriving in the post. If Vanquis needs to contact you for more information it could take longer, however. Your PIN (Personal Identification Number) will arrive by post separately to the card.

We exist to help you find better. The offers we've compared on this page are from a range of products whose details we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations of these) aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When you make major financial decisions, it's wise to consider getting independent financial advice. Always consider your own financial circumstances when you compare products so you get what's right for you.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site