Many people will be struggling with debt after the Covid-19 crisis so how, if you have a less than perfect credit rating, do you start rebuilding your credit reputation if you can’t get credit? Whilst a tarnished credit score can affect you negatively, it isn’t the end of the world. There are several credit cards out there that, if you use them carefully, can help get your credit score back on track.
Vanquis is one of the companies that can help people who have been turned down elsewhere. They provide a convenient way to stay in control of your money and offer what they describe as “a responsible and reliable financial service”. Vanquis are, refreshingly, a UK based company and is part of the Provident Financial Group which was founded more than 130 years ago.
The good thing about these cards is that they tend to start you off with relatively low credit limits so the danger of you getting in too deep is less. Having said that, in the ideal world, you’d pay the balance off every month in full but making regular payments over the minimum amount is the best strategy if you can’t pay the full balance each month.
A good idea is to use them for purely for small things you want to keep track of, like work expenses, restaurants, takeaways, or fuel. That way you can look at your monthly expenditure and budget accordingly.