I received a mailshot from Vanquis today offering me a Visa credit card. Never heard of Vanquis before, but I read the stuff anyway. Good offer - APR of only 54.6% on purchases and cash! Hell, even Capital One charge less than that. Plus an annual fee of £19, or only £10 if you get a Visa Electron.
Now, a Visa Electron is a debit card, so why are Vanquis marketing theirs as a credit card? And they also state "Where can I use my Vanquis Visa card? In shops, supermarkets, over the phone and on the internet". No, you can't. The Electron card shown on their promotional blurb is clearly marked "electronic use only", so you can't use it over the phone or on the internet.
What a way to snare those who can't get credit elsewhere, and suck them deeper into a spiral of debt.
I won't be taking up the offer - I'll stick with my Lloyds TSB Visa!
Alan
Don't reply to this e-mail address - messages will be deleted unread. To reply to me take away the news and substitute alanc