Vanquis is a long-established UK financial services provider, best known for its credit card products aimed at customers who may not qualify for mainstream lending. People looking into a Vanquis Credit Card are often comparing ways to access credit when their borrowing options are limited by their credit history.
Alongside traditional credit cards for bad credit, there are other forms of borrowing available in the UK market. One such option is a revolving credit line, a product offered by Polar Credit which works slightly differently to a credit card. Polar Credit’s customers access an online line of credit rather than borrowing via a physical credit card. This allows approved customers to draw funds directly into their bank account and manage their borrowing digitally.
Vanquis Bank Limited is part of Vanquis Banking Group, a UK-based financial services group headquartered in Bradford, West Yorkshire. The group was previously known as Provident Financial plc and later rebranded to Vanquis Banking Group, reflecting a strategic focus on its digital banking and credit products.
Vanquis Banking Group is listed on the London Stock Exchange and currently operates three main consumer brands:
All three consumer brands are designed for people that have a poor credit history and struggle to get access to lower cost credit from mainstream lenders. Vanquis Bank Limited is authorised and regulated by the Financial Conduct Authority (FCA) and provides both lending and savings products in the UK.
Vanquis is best known for its credit card offerings, which are designed to cater to borrowers with a range of credit profiles, particularly those with:
Vanquis credit cards are offered with varying credit limits and interest rates depending on the applicant’s circumstances. They offer a credit builder credit card and a balance transfer credit card. A Vanquis Card typically features:
Vanquis encourages credit card applications from customers who may have been declined by high-street lenders, positioning its products as an option for people looking to access credit while working to improve their credit profile.
In addition to lending, Vanquis Bank also offers savings accounts, including easy-access and fixed-term products. These are separate from its credit products and are aimed at customers looking to earn interest on their savings rather than borrow.
This combination of lending and savings products places Vanquis among a smaller group of UK financial service providers that serve both sides of the consumer finance market.
Vanquis also partners with third parties, such as Clear Score, to offer a broker service for bad credit loans and Interbridge Mortgages for second charge mortgage products.
A credit card is a common way to access revolving credit, but it may not suit every borrower or every situation. Some customers prefer alternatives that do not involve card-based spending or that do not allow funds to be accessed with a potential risk of over-spending.
One such alternative is a revolving line of credit, which functions slightly differently to a credit card while still offering flexible access to credit.
Polar Credit provides access to an online line of credit rather than a physical credit card. It is a form of revolving credit that allows approved customers to borrow, repay and reuse credit within an agreed limit.
Key characteristics of a Polar Credit line include:
A credit line may be a suitable alternative to a Vanquis credit card for borrowers who want direct access to funds without relying on card payments.
While both Vanquis and Polar Credit offer revolving credit, there are structural differences:
Both options involve interest charges and require responsible repayment. Eligibility, costs and limits depend on individual circumstances and affordability checks.
A line of credit may be considered by people who:
As with all forms of borrowing, applicants must meet eligibility criteria and pass creditworthiness checks.
If you are comparing UK direct lenders for bad credit products or exploring Vanquis Credit Card alternatives, you might wish to consider applying for a flexible credit line. Polar Credit provides a straightforward, quick application process with same day access to credit when approved – all without the need of a physical credit card.
Apply online today to see how Polar Credit could support your financial flexibility. Or, if you prefer to build your credit score with a Vanquis credit card, you can learn more and check your eligibility directly on the Vanquis website.
Credit should only be used when necessary and when you are confident you can afford the repayments. Missing payments or borrowing more than you can manage may have a negative impact on your credit profile and future borrowing options.