The Aquis Credit Card is provided by the Vanquis bank and the card was designed specifically for people who have had a few blemishes on their credit. This card helps them manage their credit by giving them an initial limit of £1,000 after approval.
If you pay back this initial amount, then they will keep increasing the limit until you can reach a maximum of around £4,000. On their website, they also provide tips on how you can stay out of debt and work hard towards building your credit.
Their charges are also similar to the competition, so you shouldn’t feel overcharged. You can use this card to pay for your purchases and you can also withdraw cash if you want, at a 3% fee. Using it abroad, however, will attract a non-sterling transaction fee of 2.99%.
Vanquis Bank
This is the bank behind the Aquis Credit Card. Their main focus when they came up with the card was to help people. If you have applied for a credit card from other companies and been declined, you should not worry, because this bank will approve you.
They also offer a sensible way of controlling your money, as they continue to offer the financial services that a bank normally offers. They were founded over one hundred years ago, and they are based in the UK.
The bank has been issuing credit cards to its customers since the year 2003. So far, they have served more than 3.5 million people in the United Kingdom.
On TrustPilot, the company has a very high rating of 9/10 which shows how great they are with their customers.
They also won the Moneyfacts award for credit card provider of the year, for four consecutive years. Most of the customers insist that their customer service is top-notch.
How To Apply For The Aquis Credit Card
The process of applying is pretty simple. All you have to do is log on to the company website and fill in their application form.
This is a very quick process and the beauty of using the online application process is that you can receive an activation just 60 seconds after you apply.
Their eligibility criteria must be followed for approval of the card. The first requirement is that you must be 18+ years and a resident of the UK. They take a very short time to check whether you qualify.
After submitting your application, the bank will respond to you within one minute. If they need to speak to you to verify a few issues, they will call you in 15 minutes after you have submitted the form.
If you are unavailable, they will keep trying to reach you over the next couple of weeks.
How Long Does It Take To Receive The Card?
The bank takes around 10-14 days after submitting and approval to send you your card. If, however, they needed to contact you for more information, the time might be longer than that. The PIN will arrive separately in the post.
How Does Approval Work?
As a lender, they will take your financial circumstances into account. This is so they can establish the most appropriate level of credit to grant you. For this to happen, they assess the applications through a process they call Credit Scoring.
Credit Scoring helps the bank assess whether you will be able to pay the credit card bill or not. It also looks at how stable you are and produces a consistent decision. This process is designed so applicants can receive fair treatment.
If case your application is declined, then this is as a result of the information they received from the Credit Scoring system they used.
If you have any queries regarding your application, please write to them at New Accounts Department P.O Box 339, Chatham, Kent, ME4 4WQ.
The Rates And Fees
Below you find the most important rates and fees that you should consider when applying for this credit card.
- APR - 29.8%Â
- Credit Limit - between £250 and £1,000 initially
- Over Limit Fee - £12
- Tracing Fee - £25, this applies if you move and do not notify the bank
- Cash Transaction Fee - 3%
- Non-sterling Fee - 2.99%
- Paper Statement Fee - £5
- Late Payment Fee -  £12
Benefits Of This Card
It Is A Great Way To Build Your Credit
This card helps you demonstrate that you can be trusted with credit to future lenders. It is important to remember that to prove you are good with credit, you should use it sensibly, pay the monthly minimum always on time, and stay within the credit limit.
If you don’t follow these points, you will have a hard time building your credit. In fact, you may end up in more debt.
They Offer A Manageable Credit Limit
The card starts off with a very low limit for the customer. However, after repaying your low limit, they will keep raising it until you reach the limit of £4,000. This is especially beneficial since they are targeting people who’ve had problems with their credit.
Contact Vanquis Bank
If you have more questions about this credit card offer, you can contact the bank at 0330 099 3001. You can also visit their registered office at No. 1 Godwin Street, Bradford, West Yorkshire BD1 2SU.
Conclusion
If you are having trouble with your credit, kindly consider applying for this card so you can be well on your way to repairing your creditworthiness. This card can help you take control of your financial future.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
