The Aquis Credit Card is no longer accepting new applications. Vanquis has since consolidated its cards under the Vanquis brand. This page is kept as a record of what the card offered.

ClearScore is a credit broker, not a lender.

The Aquis was a credit-builder card from Vanquis Bank, aimed at people new to credit or rebuilding a weak credit history.

Initial credit limits ran from £250 to £1,000, depending on the applicant's circumstances and credit history. Limits could be reviewed after the fifth statement and every five months thereafter, up to a maximum of £4,000, subject to account management. Cardholders could also decline an increase or request a lower limit.

The card carried a representative APR of 42.9% variable on purchases, with cash withdrawals charged at 29.8% variable. Vanquis used risk-based pricing, so at least 51% of successful applicants received the representative rate and the remainder could be offered higher rates. There was no annual fee.

Other features included contactless payments, 24/7 online banking, mobile apps for iOS and Android, and a soft-search eligibility checker that allowed applicants to gauge their chances before a full application.

Fees and charges

Foreign cash withdrawals attracted both charges — the 3% cash fee and the 2.99% non-sterling fee — with interest charged from the date of withdrawal rather than after a grace period.

Minimum payments

The minimum monthly payment was the higher of £10, or the total of interest charged since the last statement, any default fees, and either 2.5% or 3% of the remaining balance depending on the cardholder's APR.

Because the percentage element falls as the balance reduces, the payment eventually reaches the £10 floor and stays there. Our article on how the minimum payment floor works explains the effect this has on repayment timelines and total interest.

Our guide to credit cards for bad credit sets out what's currently available across the category, including Vanquis's current credit-builder card.