The Vanquis Credit Builder Credit Card is aimed at helping individuals improve or repair their credit scores. With a starting credit limit between £250 and £2,500, this card is tailored to suit your personal eligibility. The representative APR currently sits at 42.9% variable, and there’s no annual fee for holding the card. You can apply if you’re over 18, have regular income, and are a permanent UK resident, although certain exclusions apply such as recent bankruptcies or multiple recent applications.

How to Apply

Applying is straightforward. Begin by checking your eligibility, which involves providing your address history for three years, bank details, annual income, and monthly outgoings. Once the preliminary check is complete, and if you’re likely to be accepted, simply proceed with the full application. If approved, you’ll receive your credit card and PIN in the post shortly after.

Main Pros

The most significant advantage of the Vanquis Credit Builder Credit Card is the opportunity to build or repair your credit score by making timely payments within your limit. The card offers a manageable limit and comes with no annual fee, helping you avoid unnecessary charges while focusing on your financial progress.

Main Cons

However, the main drawback is the relatively high APR at 42.9% (variable), which could be costly if you carry a balance month to month. Additionally, fees apply for cash withdrawals or foreign transactions, so it’s wise to use the card mainly for everyday purchases.

Verdict

The Vanquis Credit Builder Credit Card stands out for those seeking to boost or repair their credit ratings with a reputable provider. While interest rates are high, responsible use and on-time payments offer a real opportunity to improve your credit profile and open doors to better offers in the future.