How to apply for Vanquis Balance Transfer: complete step-by-step guide
This page explains how to apply for the Vanquis Balance Transfer Credit Card, what information you should have ready and what to review before continuing with a full application.
Credit is subject to status, affordability and credit checks. Meeting the eligibility criteria does not guarantee that credit will be offered.
Step 1: check the eligibility requirements
To apply, you must currently be 18 or over, have a regular income and be a permanent UK resident.
You are not eligible if you are currently bankrupt or have an active Individual Voluntary Arrangement, known as an IVA.
Vanquis also states that you cannot apply if you already have a Vanquis card or an open Vanquis credit card application.
You are also ineligible if Vanquis has declined you within the previous six months.
Step 2: have your information ready
Vanquis states that you will need your address details covering the previous three years.
You should also have your bank details, annual income and information about your monthly outgoings available.
The eligibility process can ask for personal information such as your full name, date of birth, contact details and employment status.
Vanquis does not state that every applicant must automatically upload a passport, driving licence, payslips, tax returns or utility bills.
Additional fraud, identity or affordability checks may still be required depending on the application.
Step 3: check your eligibility
Vanquis provides an eligibility checker before the full credit application.
The eligibility check uses a soft credit search and does not affect your credit score.
It can indicate whether you are likely to qualify and show details such as the APR and credit limit that may be available to you.
The eligibility result should not be treated as a guarantee until the full assessment has been completed.
Step 4: submit the full application
If you are satisfied with the terms shown after the eligibility check, you can continue with the full application.
Review the proposed APR, credit limit, promotional period and balance transfer fee before proceeding.
A full application involves a full credit check that is recorded on your credit file.
Vanquis may also carry out fraud, identity and affordability checks using the information supplied in your application.
Complete all personal and financial information accurately and review the credit agreement before accepting the card.
Step 5: what happens after applying
Vanquis can provide a quick initial response in many cases, although some applications require additional review.
If an application is referred, Vanquis states that a decision is usually provided within 24 hours.
Additional checks can sometimes mean the process takes longer, and Vanquis may contact you if more information is required.
If your application is accepted, the physical card will usually arrive within 7 to 10 working days from the acceptance date.
The PIN is sent separately and can also be viewed in the Vanquis app once your account is available.
Check the letter accompanying your card to see whether activation is required. Not every new Vanquis card requires a separate activation step.
Step 6: review the balance transfer offer
The card currently offers 0% interest on eligible balance transfers for up to 19 months.
Transfers must be made within 60 days of account opening to qualify for the introductory rate.
The minimum amount you can transfer is £100.
You can transfer up to 90% of your credit limit.
A balance transfer fee applies and can be up to 4.5% of the amount transferred, subject to eligibility.
The fee is added to the balance you owe, so the 0% interest offer does not mean that transferring a balance is free.
Step 7: understand the purchase offer
The card currently also offers 0% interest on qualifying purchases for three months.
The Summary Box states that this applies to purchases made within three months of account opening, for three months from the first purchase.
Promotional rates may be removed if two minimum payments are missed.
If this happens, the standard rate applies and the introductory rate cannot be reinstated.
Step 8: review the APR and credit limit
The card currently has a 35.9% representative APR variable.
Vanquis states that APRs can range from 31.9% to 45.9% variable, depending on individual circumstances.
The standard effective annual purchase rate is currently 35.9%.
The standard effective annual balance transfer rate after the promotional period is currently 55.9%.
Your actual APR may differ from the representative figure.
The personalised credit limit currently ranges from £250 to £7,000, subject to affordability.
There is currently no annual fee.
Step 9: check additional charges
Cash transactions currently have a fee of 5% of the amount, with a minimum charge of £3.
The standard effective annual interest rate for cash transactions is currently 55.9%.
Foreign purchases carry a 2.99% foreign transaction fee.
A separate 2.99% foreign cash transaction fee also applies when cash is withdrawn in a foreign currency.
Vanquis currently charges £12 for a late payment and £12 for exceeding the credit limit.
Step 10: plan the balance transfer
If you receive the promotional offer, pay attention to the 60-day deadline for completing eligible transfers.
Consider how much you can realistically repay each month during the 0% period.
Any balance remaining when the promotional period ends will become subject to the applicable standard interest rate.
Vanquis also explains that paying only the minimum payment will generally make the debt take longer and cost more to repay.
Before you apply
Compare the balance transfer fee with the amount of interest you expect the promotional period to save.
You should also review the standard interest rate that may apply after the offer expires.
Using the eligibility checker first allows you to see possible credit terms without affecting your credit score.
Avoid treating the eligibility result as confirmation that the account will definitely be opened.
Only proceed with the full application if the proposed credit limit, APR and repayments are appropriate for your circumstances.
About Vanquis Bank
The Vanquis Balance Transfer Credit Card is provided by Vanquis Bank Limited.
Vanquis Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Vanquis is responsible for assessing applications, setting credit limits and making lending decisions.
This website does not issue credit cards, process applications or participate in credit decisions.
The balance transfer fee is up to 3.9 percent depending on your offer. This fee applies to the amount you move to the Vanquis card and is outlined in your agreement after approval.
The 0 percent interest period on balance transfers can last up to 19 months, depending on your eligibility at approval. Transfers must be made within 60 days of account opening to qualify.
No, there is no annual fee charged for holding the Vanquis Balance Transfer Card. This allows you to focus on repaying transferred debt without ongoing card charges.
You cannot apply if you already have a Vanquis card or an open application, or if you were declined in the last 6 months. The card is available only to new, eligible customers.
Independent editorial notice: This website provides independent informational content. We are not a bank, lender, credit broker or financial institution, and we are not affiliated with Vanquis Bank or Visa. We do not issue cards, process applications or make lending decisions. Product rates, fees, promotional offers and eligibility requirements can change, so check the provider’s current information before applying.
Credit is subject to status, affordability and credit checks. Missing or late repayments may result in charges and can affect your credit record. If you are experiencing difficulties with debt, free and impartial guidance is available from MoneyHelper.
