Granite Credit Card: Card for those with poor Credit History
At 34.9% APR Representative (Variable), the interest is much higher than you’d expect, but then Granite might be able to offer you a credit card where others will not, especially if you have a poor credit history.
This credit card offers an initial credit limit of up to £500 and you could get a credit increase on your 4th statement, provided you stay within your credit limit and pay off your balance each month.
There are possible further increases every 4 months, of up to £3,000, subject to status. Granite are underwritten by Vanquis who are well known for helping those with a less than perfect credit rating. They have launched Granite to make personal finance better. They think that means making things easier and offering greater value to their customers.
They will consider your application even if you have poor credit history, past credit card problems, previous CCJs or other financial problems.
The Granite Credit Card is issued by Vanquis Bank Ltd and promoted by the Media Ingenuity Group. Vanquis is a UK based credit card company formed in 2002, which has already helped over 800,000 customers in the UK.
It’s parent company Provident Financial is a FTSE 250 company established nearly 130 years ago. Even if you’ve been turned down before for a credit card, it does not necessarily mean that Granite will reject you.
Your credit history needn’t mean you get turned down, all applications are considered on merit and they’ll still consider you if you’ve been turned down in the past. You can apply online by filling in their application form, it costs nothing to apply, and if accepted there is no annual fee.
If you apply online you should hear in 10 -14 days. The interest rate that you pay is worked out by risk based pricing and when you apply they assess the information on your application form and any information they have on your credit history from credit reference agencies.
As for what rewards you will get with the Granite credit card, Vanquis Bank runs the Granite Rewards Program exclusively for Granite card customers. In fact, although Vanquis Bank offers other types of credit cards also (e.g. the Aquis and Vanquis VISA cards), the Granite card is the only one that comes with a Rewards Program.
The good thing about the Granite card’s Rewards Program is that it is not like your usual program – you don’t get thousands of (useless) ‘points’ that you have to build up into £2.50 vouchers before you can spend them, you actually get money off what you usually buy.
This is because Vanquis Bank has built a large network of partnership with many major retailers in the UK. Basically, there is something in store for everybody. If you have a hobby, for example reading or gardening, and you regularly spend small amounts of money on your hobby, good news – you are going to get some great discounts every month.
So for instance, if you shop at Tescos, and do an online grocery shopping with them, you will have an instant £10 discount for your first £50 online purchases. As for food and beverages, Pizza Hut, Pizza Express and Burger King are the familiar household names that frequently offer discounts to Granite card customers.
Besides, you should not be surprised at all to see items going on a 70% discount sale – we see such discounts everyday.