Vanquis Bank

Vanquis was set up by Provident Financial in 2003 and received authorisation from the Financial Services Authority the following year. It offers credit cards.

Vanquis was initially conceived as a pilot scheme, specialising in credit cards for people with poor credit histories, or no credit history, and it received approval to expand in 2004. 

It remains under ownership of Provident Financial, one of the UK's largest home credit companies.

It is based in London.

Vanquis Bank
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Credit cards

Ranked 23rd of 34 providers reviewed.

Customer happiness score 51.02%
Customer trust score 45.83%
Complaints performance 68.16%
Transparency rating 61.98%
Fairer Finance score
Reviewed Autumn 2023
57%

Credit cards

0% balance transfer credit cards

Vanquis Bank

Balance Transfer Credit Card

2 stars
Duration of 0% balance transfer offer period i 6 or 9 months
Balance transfer fee during promotional period i 2.99%
Representative APR i 29.3%
Balance transfer rate during promotional period i 0%
Highest balance transfer fee during promotional period (%) i 2.99%
Representative balance transfer rate i 2.16%
Risk based? i

0% purchase credit cards

Vanquis Bank

Purchase Credit Card

1 stars
Duration of purchases offer period i 4 months
Representative APR i 34.6%
Highest APR i 39.9%
Purchase rate during promotional period i 0%
Representative purchase rate i 2.51%
Number of days before interest is charged on purchases i 56 days
Risk based? i

Credit builder credit cards

Vanquis Bank

Credit Builder Credit Card

4 stars
Representative APR i 34.5%
Representative cash transaction interest rate i 2.5%
Representative purchase rate i 2.5%
Risk based? i
Initial minimum credit limit i £500.00
Statement Due Date Change Fee i £0.00
Representative balance transfer rate i 2.5%

Vanquis Bank

Balance Transfer Credit Card

4 stars
Representative APR i 29.3%
Representative cash transaction interest rate i 2.16%
Representative purchase rate i 2.16%
Risk based? i
Initial minimum credit limit i £500.00
Statement Due Date Change Fee i £0.00
Representative balance transfer rate i 2.16%

Vanquis Bank

Purchase Credit Card

4 stars
Representative APR i 34.6%
Representative cash transaction interest rate i 2.51%
Representative purchase rate i 2.51%
Risk based? i
Initial minimum credit limit i £500.00
Statement Due Date Change Fee i £0.00
Representative balance transfer rate i 2.51%

Foreign use credit cards

Vanquis Bank

Purchase Credit Card

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 3%
Representative APR i 34.6%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 2.51%

Vanquis Bank

Balance Transfer Credit Card

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 3%
Representative APR i 29.3%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 2.16%

Vanquis Bank

Credit Builder Credit Card

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 3%
Representative APR i 34.5%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 2.5%

Money transfer credit cards

Vanquis Bank

Balance Transfer Credit Card

1 stars
Money transfer rate during promotional period i
Duration of money transfer offer period i
Money transfer fee during promotional period i
Representative APR i 29.3%
Risk based? i
Representative cash transaction interest rate i 2.16%

Vanquis Bank

Purchase Credit Card

1 stars
Money transfer rate during promotional period i
Duration of money transfer offer period i
Money transfer fee during promotional period i
Representative APR i 34.6%
Risk based? i
Representative cash transaction interest rate i 2.51%

Vanquis Bank

Credit Builder Credit Card

1 stars
Money transfer rate during promotional period i
Duration of money transfer offer period i
Money transfer fee during promotional period i
Representative APR i 34.5%
Risk based? i
Representative cash transaction interest rate i 2.5%

Notice Savings Accounts

Up to 180 Day Notice Accounts

Vanquis Bank

120 Day Notice Account (Issue 3)

Interest Rate (AER) i 5.25%
Part of FSCS i
Notice Period 120 days
Minimum Opening Balance i £1,000.00
Maximum Balance i £250,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Early withdrawals allowed? i
Withdrawal Penalty i

Up to 90 Day Notice Accounts

Vanquis Bank

90 Day Notice Account (Issue 3)

Interest Rate (AER) i 5.4%
Part of FSCS i
Notice Period 90 days
Minimum Opening Balance i £1,000.00
Maximum Balance i £250,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Early withdrawals allowed? i
Withdrawal Penalty i

Savings Accounts

1 Year Fixed Rate Accounts

Vanquis Bank

Vanquis Bank Savings

Interest Rate (AER) i 4.5%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before when the account is approaching maturity date requesting instruction. If they receive no further instructions by the maturity date they will reinvest the funds for the same or similar term.
Part of FSCS i
Maximum Balance i £250,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty i

2 Year Fixed Rate Accounts

Vanquis Bank

Vanquis Bank Savings

Interest Rate (AER) i 4.25%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before when the account is approaching maturity date requesting instruction. If they receive no further instructions by the maturity date they will reinvest the funds for the same or similar term.
Part of FSCS i
Maximum Balance i £250,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty i

3 Year Fixed Rate Accounts

Vanquis Bank

Vanquis Bank Savings

Interest Rate (AER) i 4.05%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before when the account is approaching maturity date requesting instruction. If they receive no further instructions by the maturity date they will reinvest the funds for the same or similar term.
Part of FSCS i
Maximum Balance i £250,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

4 Year Fixed Rate Accounts

Vanquis Bank

Vanquis Bank Savings

Interest Rate (AER) i 4%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before when the account is approaching maturity date requesting instruction. If they receive no further instructions by the maturity date they will reinvest the funds for the same or similar term.
Part of FSCS i
Maximum Balance i £250,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty i

5 Year Fixed Rate Accounts

Vanquis Bank

Vanquis Bank Savings

Interest Rate (AER) i 3.95%
Minimum Opening Balance i £1,000.00
What happens at maturity? i The provider will contact you before when the account is approaching maturity date requesting instruction. If they receive no further instructions by the maturity date they will reinvest the funds for the same or similar term.
Part of FSCS i
Maximum Balance i £250,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty i