Vanquis Bank

Vanquis Bank

Founded in 2003, Vanquis Bank is a subsidiary of the Provident Financial Group. It works primarily in service of UK customers with poor, limited or uneven credit histories.

Reviews Rating
20%
Review Score
This figure is an average of the reviews score, taken from customer reviews and the overall rating of the bank.
35%
BankRank® Score
This figure is the average of the bank’s total sentiment score and the review scores.
Matt Crabtree
Senior Editor
Matt Crabtree
Matt Crabtree is a senior editor at CompareBanks. He has over 10 years experience in writing about all aspects of finance and is passionate about helping consumers make informed decisions about their money.
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Overview

First Glance

Founded in 2003, Vanquis Bank is a subsidiary of the Provident Financial Group. It works primarily in service of UK customers with poor, limited or uneven credit histories.

Features

Contact Info

Email
customer.relations@vanquisbank.co.uk
Address
1 Godwin St, Bradford BD1 2SU, UK
Phone
0330 099 3000

About Vanquis Bank

Founded in 2003, Vanquis Bank is a subsidiary of the Provident Financial Group. It works primarily in service of UK customers with poor, limited or uneven credit histories.

Vanquis also offers a fixed rate bond service, introduced in 2011.

Vanquis was started by Provident Financial and licensed for consumer credit in 2002. Originally intended as a pilot scheme, it expanded in 2004 and opened its first London head office in 2005. Extensive expansion in customer volume meant moving to larger premises in 2008, followed by a rebrand and new credit cards the following year. Vanquis received a licence to operate in Poland in 2012.

It has been suggested that Vanquis’ success is due to the economic recession and the increasing difficulty some people have in obtaining credit from traditional banks. Vanquis refutes this claim, stating that despite an increase in the number of applications they receive, their rate of acceptance remains the same.

Vanquis Bank Products and Services

Vanquis Bank is focused on providing credit cards to customers who have poor or limited credit history, to allow them to build their credit score back up. It has two credit card products, both licensed by VISA.

The first credit card is the Vanquis card, with APR ranging from 39.9% to 59.9%. APR is dependent on the credit status of the applicant. The card offers manageable credit limits between £150 and £1000, with a potential increase after the fifth statement if repayments have been met. Customers can check if they might be accepted before applying with no risk to their credit score.

The second card is the Aquis card, with a typical APR of 29.8%.

Credit cards issued by Vanquis are not intended for long-term borrowing or for financing existing debt. Missing payments can have severe consequences for the borrower and could make obtaining future credit even more difficult.

Vanquis Bank Security

Vanquis is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority.

Vanquis Contact Details

1 Godwin Street
Bradford
West Yorkshire
BD1 2SU

Telephone: 0330 099 3000

Email: customer.relations@vanquisbank.co.uk

Have a question about Vanquis Bank?

Find answers in Q&As and ask your question

Can you tell me why my credit card amount has been reduced...? — Patricia Robinson

Vanquis Bank Reviews

Ayesha Doyle
March 26, 2024

“Quite possibly the worst customer service I've come across, sent the same message so many times, even put the key words they were asking for in brackets, the words were literally in the first email I sent, this company is a complete joke, can't even read, ridiculous”

Quite possibly the worst customer service I've come across, sent the same message so many times, even put the key words they were asking for in brackets, the words were literally in the first email I sent, this company is a complete joke, can't even read, ridiculous.

Vanquis Bank Accounts

6 Month Fixed Rate Bond
6 Month Fixed Rate Bond
Savings
Monthly Fee
0.05%
Interest Rate
Overdraft
Overdraft Rate
1 Year Fixed Rate Bond
1 Year Fixed Rate Bond
Monthly Fee
0.76%
Interest Rate
Overdraft
Overdraft Rate
2 Year Fixed Rate Bond
2 Year Fixed Rate Bond
Monthly Fee
0.97%
Interest Rate
Overdraft
Overdraft Rate
3 Year Fixed Rate Bond
3 Year Fixed Rate Bond
Monthly Fee
1.09%
Interest Rate
Overdraft
Overdraft Rate
4 Year Fixed Rate Bond
4 Year Fixed Rate Bond
Monthly Fee
1.20%
Interest Rate
Overdraft
Overdraft Rate
5 Year Fixed Rate Bond
5 Year Fixed Rate Bond
Monthly Fee
1.41%
Interest Rate
Overdraft
Overdraft Rate