Not part of the Provident scheme. The 2021 Provident scheme of arrangement covered Provident, Satsuma, Glo and Greenwood customers. Vanquis credit cards weren’t part of it, so Vanquis complaints follow the normal route.
Who are Vanquis?
Vanquis Bank is part of Vanquis Banking Group plc, which was called Provident Financial until March 2023. Its credit cards are often aimed at people with a limited or poor credit history.
Vanquis says it suspends the card while it looks into an affordability complaint.
Can I claim against Vanquis?
You could, if any of these sound familiar:
- 01Your limit went up while you were only making minimum payments
- 02You maxed out the card soon after getting it
- 03You were using it for everyday bills or cash
- 04You were already struggling with other debts
Limit increases count too. Each one was a lending decision, so each can be looked at.
What you could get back
Average credit card claim£2,0431
Interest on unaffordable lendingRefunded
Fees and chargesRefunded
Interest on your refundAdded
Missed payment markersRemoved
Refunds usually cover interest and charges on the part of the balance that shouldn’t have been lent. If you still owe money, a refund may reduce your balance.
Ombudsman decisions about Vanquis
Published Financial Ombudsman decisions show how complaints like these are judged. Where a complaint is upheld, it is often only from a certain date or for certain lending. Every complaint is decided on its own facts, so these are examples, not a guide to what you’ll get.
- Not upheld
Checks weren’t always proportionate, but bank statements showed the borrower could afford the limits.
Read decision DRN-5441665 - Not upheld
The ombudsman found the limits affordable on the facts of this case.
Read decision DRN-6016090
Vanquis credit card questions
Can I claim for limit increases?
Yes. Each increase was a separate lending decision, so Vanquis should have checked it was affordable each time.
Will my account be suspended?
Some lenders suspend the account while they look into an affordability complaint. Ask the lender if you’re unsure.
How long does Vanquis have to reply?
Eight weeks. If Vanquis hasn’t sent a final response by then, or you’re unhappy with it, the complaint can go to the Financial Ombudsman, normally within six months of the final response.
How far back can I claim?
Usually six years from the lending, or three years from when you realised you had cause to complain, whichever is later. Where an account is still running, the ombudsman has sometimes looked back further.
Complain to Vanquis yourself
You don’t need a claims company. You can complain to Vanquis directly using its complaints page. If you’re unhappy with the answer, or it hasn’t replied within eight weeks, you can take it to the Financial Ombudsman. Both are free.