I had a Vanquis credit card and the credit limit was increased several times over many years, never at my request. I saw an advert on social media about claiming for this. I don't want to claim via the company advertising it, as you often lose more than the claim.! Has anyone done this and able to advise on how to approach it?
I had a Vanquis card - my first credit card post bankruptcy. I started with a £400 credit limit if I remember rightly, and through using it and paying it back in full each month, they raised my limit from time to time until it eventually reached £3500. By that point I'd established plenty of positive credit history through this card that allowed me to obtain others at more favourable rates. I'm very happy they raised my limit, and I don't see anything to claim for. What's specific to your situation that makes you believe there's a claim? Did you ever call Vanquis to say 'You've raised my limit to £X - I don't want it, can you put it back to what it was please?'. Don't always believe adverts you see on social media.
An ex-bankrupt on a journey of recovery. Feel free to send me a DM reference credit building credit cards from the usual suspects Happy to help others going through what I've been through!
CliveOfIndia Posts: 1,771 Forumite
You're at liberty to phone them up and reject the increase. In fact every time I've received such a letter, it explicitly states to contact them if you don't want to accept the increase.
And just because you have a higher limit, doesn't mean you have to spend it all. I saw an advert on social media about claiming for this. Claim for what, exactly? How has is disadvantaged you? What financial loss have you suffered?(Actually, if anything, an increase in credit limit will actually have a beneficial effect upon your credit history, as long as you don't abuse it).
It's always a sensible approach to disbelieve 99% of what you see on social media, those platforms are rife with scams.
