Is Vanquis Bank legitimate?
Vanquis Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 221156). Credit is subject to status, affordability and credit checks.
Is Vanquis Bank in trouble?
The FCA fines Vanquis £1,976,000 and orders Vanquis to pay compensation to customers. The Financial Conduct Authority (FCA) has today imposed a fine of £1,976,000 on credit card lender, Vanquis, for failing to disclose the full price of an add-on product, called Repayment Option Plan (ROP).
Can I ask vanquis for a credit limit increase?
We do not increase limits on request.
As a responsible lender we want to ensure you can comfortably manage your repayments. Increasing your limit means you have more flexibility to spend. A bigger balance equals a higher minimum payment and an increase to the amount of interest you could get charged.