Vanquis Credit Card
How a Vanquis Credit Card can Improve your credit score
If you suffer from adverse credit Vanquis Bank offer a credit card that can help people repair their credit history when they keep their payments up to date
How to repair your adverse credit scores
If you are suffering from adverse credit don't worry you are not alone and you can improve this. On average 7,000 people visit the Citizens Advice Bureaux with debt problems every day*. So ignoring the problem is not the answer. Vanquis Bank can now help you by giving you the opportunity to take out one of their Vanquis credit cards to assist in repairing your credit score, This is the Vanquis adverse credit card. Plus if you so through the straightforward measures below this can also have an impact on your credit score over time.
Manage your finances more effectively
- Start by setting yourself manageable financial goals. Start with where you want to be in month one,then month three, and then over time 1 year and 3 years?
- Write down and update on a regular basis all your outgoing expenses for each month, such as mortgage/rent, council tax, utility bills, food and travel.
- Take away money coming in from your outgoings and if there is any money left, work a a reasonable amount to pay of any debt, even a small token of payment is better than nothing, then if anythings left budget for extras like clothes, savings a holiday.
- If in the worst case senario your outgoings are more than the money coming in then you either need to reduce them (this can be done by shopping around for new suppliers) or try and increase your income.
Ideas for reducing outgoings
- Be ruthless and cut everything you don't really need.
- Search online price comparison sites to get the cheapest price on items.
- Search online price comparison sites for cheaper utility providers.
- Turn down your heating a degree or two and you can save money.
- Take a pack lunch to work rather than buying lunch everyday.
Ideas for increasing income
- Look at changing your career or look for a new job.
- See if there is any paid overtime at work.
- Make money from an interest or hobby.
- Sell off unwanted belongings online or at car boot sales.
Sharing your problems with someone close can help as whatever your situation there should be a way out. Or you can talk to your local Citizens Advice Bureau for advice.
Don't ignore problems it won't go away
Never ignore any demands for bills or debt payments. By putting it off it won't make the problems go away and will only increase the amount of phone calls you will receive from them and will increase your stress levels plus you will get adverse credit. If you are having difficulty paying, phone the company concerned and inform them of your situation and get advice, in most cases they will get you to complete a form to see how much your incoming and outgoings are and work out a suitable payment plan.
See: Vanquis Credit Card Review
See: Apply for a Vanquis Credit Card
See: Compare Bad Credit Building Cards
* Figures taken from www.creditaction.org.uk.
Tags: improve credit, vanquis, Vanquis Credit Card