FAQ

Borrowing with an Argos Credit Card

Is a credit card suitable for me?

A credit card can help you to meet monthly outgoings if you find yourself with an unexpected bill or expense, and it's more flexible than cash or cheques. It’s safer than carrying cash, and is virtually essential when you're shopping for the best online deals. And when you're travelling, it can be a requirement for hotels and car rental to secure a deposit.

Before you use your card, think about the payment you'll need to make that month. Make sure you can afford the minimum payment due at the very least. And if you can pay more than the minimum, you'll clear the balance faster and pay less interest.

A credit card isn't suitable for long term borrowing. If you want to make a large purchase with a longer repayment term, a personal loan may be a better option.

What does an Argos Credit Card do?

You can use your Argos Credit Card wherever you see the Visa symbol, anywhere in the world. Buy goods and services on the high street or online, and take out money from cash machines in the UK and abroad.

You can use your Argos Credit Card immediately, as long as you have the available funds. You must pay at least the minimum payment due by the date on your monthly statement. You can always choose to pay more than the minimum payment due, in order to clear the balance faster and pay less interest.

To find details on how to pay and how long to allow for a payment to reach your account click here

How long will I have access to credit?

You'll have access to credit as long as you make the minimum payment due on time, and stay within your credit limit.

As a responsible lender Vanquis Bank reserves the right to lower your credit limit based on how you use your Argos Credit Card and other credit facilities you may have with other lenders.

Vanquis Bank also reserves the right to close your Argos Credit Card account. You’ll receive notification at least two months in advance if this happens. Please refer to terms and conditions for further information.

How much will you lend me?

The credit limit on an Argos Credit Card starts at £150 and goes up to £1000. Your starting credit limit will depend on your credit history, your personal circumstances, and how you manage any current credit facilities you have with other lenders. Vanquis Bank will inform you of your credit limit soon after you open your Argos Credit Card.

Vanquis Bank will review your credit limit and may decide to increase or decrease your credit limit. You’ll receive a letter to let you know 30 days before any change to your credit limit, allowing you time to let Vanquis Bank know if you wish the limit to stay as it is. You can also choose not to be considered for credit limit increases, to do this simply call Customer Services on 0871 770 3060*.

Why is there more than one interest rate on my account?

Two rates of interest apply to your Argos Credit Card. You'll be charged the lower purchase rate if you make purchases with your card. The higher cash rate will apply if you withdraw money from a cash machine, or make a cash like transaction.

How much will it cost me?

Illustrative example For a purchase of £500 on your credit card based on 39.9% APR
Monthly Payment Minimum Payment each month £50 each month
Without taking into account any introductory rates, how much interest will you be charged in the first year? £160 £104
How much interest will you be charged in the second year? £134 £1
How long would it take to clear the balance? 11 years, 5 months 1 year, 2 months
The above example assumes the following: The transaction takes place on 1st January and you make no further transactions. Your statement is produced on the 1st of each month and you always make the payment each month on the 15th. Your statement is produced 31 days after you make the purchase.

 

What is the Repayment Option Plan?

Repayment Option Plan provides some of the tools you might need to protect your credit score in certain difficult financial circumstances, allowing you to freeze your account for up to 24 months, take a Payment Holiday and use a Lifeline every 12 months and to receive Text Alerts to help you manage your account. Click here to find out more.

 
My Argos Credit Card application

I've been declined for a credit card before - will my Argos Credit Card application be declined?

Not necessarily. Vanquis Bank uses all the information you provide on your Argos Credit Card application and makes a decision based on that and the information from your credit history.

However, if you’ve been declined for an Argos Credit Card with Vanquis, Vanquis, Aquis, Black Diamond or Granite Credit Card, please wait six months before you apply again as we won’t consider your application before then.

 

How do I apply for an Argos Credit Card?

Simply fill in our online application form here.

Is there a cost for applying?

It's free to apply and if you're accepted, there's no annual fee.

How long will I have to wait for a decision?

Vanquis Bank will contact you within 10 – 14 days after you’ve completed your application, so make sure that you enter your correct mobile and home telephone numbers on your application.

How will Vanquis Bank work out my interest rate?

Vanquis Bank will use the information from your Argos Credit Card application and your credit history to work out your interest rate.

What happens if my Argos Credit Card application is successful?

Vanquis Bank will send your Argos Credit Card and welcome pack to your home address. You’ll need to call to activate your card.

What if I change my mind? How long will I have to cancel my Argos Credit Card?

Once you've received your credit limit, you'll have fifteen days to cancel your card. You can do this by phone or in writing. You’ll need to repay any outstanding credit and interest within 30 days. Interest will be charged for each day between the credit being drawn down and repaid. Please refer to your terms and conditions for more information on how you do this.

You can close your account any time after that. You will need to repay any credit, interest and unpaid fees and charges outstanding on your account.

Why has my Argos Credit Card application been declined?

Vanquis Bank uses all the information you provide on your Argos Credit Card application and makes a decision based on that and the information from your credit history. Based on this information, Vanquis Bank have been unable to accept your application for an Argos Credit Card.

If you would like Vanquis Bank to reconsider their decision, you can write to them at New Accounts Department, P.O Box 399, Chatham, Kent, ME4 4WQ and provide them with any additional information you think relevant.

Under the Data Protection Act 1998 and the Consumer Credit Act 1974 you have the right to see the information held about you.

 

 
Using your Argos Credit Card

Where can I use my Argos Credit Card?

You can use your card anywhere you see the Visa sign, whether it’s in the UK, abroad or online.

How can I keep track of what I spend on my Argos Credit Card?

You’ll receive a monthly statement which will tell you the date and place of every purchase you’ve made, cash you’ve withdrawn and repayments Vanquis Bank has received from you.

If you’re registered with eVanquis you will be able to view your balance and latest transactions online. To sign up for eVanquis visit www.vanquis.co.uk and click on My Vanquis.

You can also phone QuickCall on 01623 23 23 23; 24 hours a day, seven days a week to hear details of your account balance, recent transactions and your latest statement.

What will be the credit limit on my Argos Credit Card?

Vanquis Bank will carefully review your Argos Credit Card application to set a credit limit they think you can manage. You can request to have your credit limit reduced if it is higher than you're comfortable with, to do this please call Customer Services on 0871 770 3060*.

If your account is well managed you may be offered a credit limit increase.

Can I increase the credit limit on my Argos Credit Card?

As a responsible lender, Vanquis Bank will try and set a credit limit that reflects your needs and your ability to manage your account. If you make your payments on time and use your credit without going over your credit limit you may become eligible for a credit limit increase. If you do become eligible for a credit limit increase Vanquis Bank will write to you and let you know. You’ll receive a letter 30 days before your credit limit is increased to give you time to let Vanquis Bank know if you wish the credit limit to stay as it is.

You can also choose not to be considered for credit limit increases, to do this simply call Customer Services on 0871 770 3060*.

 

Can I use my Argos Credit Card abroad?

Yes - You can use your Argos Credit Card to make purchases in shops and restaurants and withdraw cash from cash machines and bank counters everywhere you see the Visa sign.  Charges apply when you use your Visa Credit Card abroad. 

When you use your Argos Credit Card to make a non-sterling transaction we will charge a Non-Sterling Transaction Fee of 2.99% of the transaction.

If you withdraw cash from a cash machine or financial institution displaying the Visa sign, or purchases of currency and cash related transactions (such as purchases of travellers cheques, money orders and money transfers, or gambling transactions) (‘Cash Transaction’), we will charge a Cash Fee of 3% of the cash transaction amount or £3, whichever is the greater.  You will also be charged a Non-Sterling Transaction Fee for each cash transaction.

Please be aware that interest on a Cash Transaction is charged from the date transactions are applied to your account until payment is received.  There is no interest-free period on Cash Transactions. You’ll need to take into account any other restrictions when withdrawing cash, such as daily cash withdrawal limit. Please see your Credit Card Agreement for more information.

All transactions made in a foreign currency (including cash withdrawals) are converted to Sterling using the Visa Payment Scheme Exchange Rate.  Payment Scheme Exchange Rates are set by Visa and MasterCard.  Exchange rates fluctuate every day.  To see the up to date rates and to find out what the rate is on a certain day, visit www.visaeurope.com and click on the Cardholder section

 

What are the charges for using my Argos Credit Card abroad?

When you use your Argos Credit Card to make a non-sterling transaction we will charge a Non-Sterling Transaction Fee of 2.99% of the transaction.

If you withdraw cash from a cash machine or financial institution displaying the Visa sign, or purchases of currency and cash related transactions (such as purchases of travellers cheques, money orders and money transfers, or gambling transactions) (‘Cash Transaction’), we will charge a Cash Fee of 3% of the cash transaction amount or £3, whichever is the greater.  You will also be charged a Non-Sterling Transaction Fee for each cash transaction.

Please be aware that interest on a Cash Transaction is charged from the date transactions are applied to your account until payment is received.  There is no interest-free period on Cash Transactions. You’ll need to take into account any other restrictions when withdrawing cash, such as daily cash withdrawal limit. Please see your Credit Card Agreement for more information.

All transactions made in a foreign currency (including cash withdrawals) are converted to Sterling using the Visa Payment Scheme Exchange Rate.  Payment Scheme Exchange Rates are set by Visa and MasterCard.  Exchange rates fluctuate every day.  To see the up to date rates and to find out what the rate is on a certain day, visit www.visaeurope.com and click on the Cardholder section

 

What are the Exchange Rates for using my Argos Credit Card abroad?

All transactions made in a foreign currency (including cash withdrawals) are converted to Sterling using the Visa Payment Scheme Exchange Rate.  Payment Scheme Exchange Rates are set by Visa and MasterCard.  Exchange rates fluctuate every day.  To see the up to date rates and to find out what the rate is on a certain day, visit www.visaeurope.com and click on the Cardholder section

 
Paying your bills

How can the Argos Credit card help me build up my credit rating?

Making repayments on time and staying within your limit can help build a strong credit rating. The longer you do this the better your credit rating will be.

How can I make a payment to my account?

Whatever payment method you choose, always quote your Argos Credit Card number to ensure payments reach your account on time.


By Debit Card

Please allow 3-5 working days for your payment to reach your account. You’ll need your 16 digit Argos Credit Card number and your Debit Card number to hand.

www.vanquis.co.uk: Simply click on the ‘Pay my card’ icon in the top right hand corner. This will take you to the debit card payments site. Then follow the instructions on screen.

Quickcall: Call 24/7 on 01623 23 23 23 and select option 3. If you register your card before you make a payment it will be quicker the next time you want to use this service.

eVanquis: If you're registered for our online servicing facility, go to www.vanquis.co.uk and log in to your account. Click the Debit Card Payment link on the left hand panel of the eVanquis screen and follow the instructions.

Other banks: You’ll need the following details when you contact your bank:

Your Vanquis 16 digit card number
Our sort code: 60-95-94
Our bank account number: 0000 0001

Phone: Call Customer Services on 0871 770 3060*.

 
At the bank or post office

Please allow five working days for payment to reach your account. Fill in the giro slip attached to your monthly statement and take it with your payment to any bank or post office. Cheques or postal orders should be made payable to Vanquis Bank, followed by your Argos Credit Card number. In addition, write your name and Argos Credit Card number on the back of the cheque or postal order.

Some banks or post offices charge a handling fee. Please check with the counter agent.

Please note that in some instances, cheque payments made over the counter at the post office can take up to 20 working days to clear.


By post

Please allow 7 working days for your payment to reach your account. PLEASE DO NOT SEND CASH THROUGH THE POST.

Make your cheque or postal order payable to ‘Vanquis Bank’ followed by your 16 digit Argos Credit Card number. On the back, write your name and Argos Credit Card number, then put the cheque or postal order with a completed bank giro slip (provided on your statement) into an envelope, attach a stamp and post to: Vanquis Bank, PO Box 112, Sheffield, S98 1GG. Please do not send cash through the post.


Direct Debit

Call 0871 770 3060* now to set this up over the phone or do it online if you're registered for eVanquis online servicing. Always make sure there is enough money in your bank account before your payment is due.

You can make as many individual payments as you wish prior to your minimum payment due date. Just make sure that the total is at least equal to the minimum payment due on your monthly statement. If you pay more than the minimum payment due, you will reduce your balance quicker and pay less interest.

 

When I make a payment, what’s paid off first?

Where your repayment is not sufficient to pay off the whole of the balance outstanding on your Account, your repayment will be allocated first to reduce that part of your balance bearing the highest interest rate and then on in descending interest rate order.

 

What happens if I keep making the minimum payment and how long will it take me to pay off my debt?

Illustrative example For a purchase of £500 on your credit card based on 39.9% APR
Monthly Payment Minimum Payment each month £50 each month
Without taking into account any introductory rates, how much interest will you be charged in the first year? £160 £104
How much interest will you be charged in the second year? £134 £1
How long would it take to clear the balance? 11 years, 5 months 1 year, 2 months
The above example assumes the following: The transaction takes place on 1st January and you make no further transactions. Your statement is produced on the 1st of each month and you always make the payment each month on the 15th. Your statement is produced 31 days after you make the purchase.

How often do I have to make a payment and how will I know how much to pay?

You will be sent a monthly statement in the post, or if you're registered a reminder to view your monthly statement on eVanquis. Your statement will tell you the minimum payment due and the date you need to pay it by. You’re free to make additional payments throughout the month. To view the different ways you can make a payment click here.

What happens if I don't pay?

If your payment is late or you fail to pay the minimum amount, Vanquis Bank will charge a late payment fee of £12. Vanquis Bank will contact you to discuss your account, and future payments.

Please be aware that missed payments could have severe consequences and impact your ability to get credit in the future.

 

What should I do if I have trouble paying my bill?

Vanquis Bank is always here to help you, especially if you have any concerns about paying your bill. Call Customer Services on 0871 770 3060* and they will see what they can do to help.

 

 
Managing your account

Can I manage my account online?

Yes, through eVanquis online servicing. Once you've signed up, you can view your account balance, access statements, and pay your bill online.

To sign up visit www.vanquis.co.uk and click on My Vanquis.

 

What should I do if I have any questions about my account?

As an Argos Credit Card customer you have access to QuickCall for balance and credit limit information 24 hours day on 01623 23 23 23.

Or if you prefer to speak to someone you can call Customer Services on 0871 770 3060*.

Can I cancel my application?

Once you have applied for an Argos Credit Card, you can withdraw your application by sending WRITTEN notice of withdrawal to: Argos Credit Card, Customer Services, P.O. Box 399, Chatham ME4 4WQ. If your application is accepted you’ll have a further time to withdraw from the agreement. For more details see our response to What if I change my mind? How long will I have to cancel my Argos Credit Card?

 

Can I add another cardholder to my account?

Yes you can, as long as you've had a well managed account open for at least six months with a credit limit of £500 or more.

If you would like to add another cardholder, please call Customer Services on 0871 770 3060* and request an additional card holder form. Once you’ve completed and returned the form, Vanquis Bank will be able to confirm if your request has been successful.

You can also make a request to add another cardholder online through eVanquis online servicing. To sign up visit www.vanquis.co.uk and click on My Vanquis.

 

What if my balance gets too high?

Call Customer Services on 0871 770 3060* as soon as you think you may have difficulty meeting your minimum payment due. It's important to check your monthly statement to keep track of your account, and try to pay more than the minimum payment due, whenever you can.

Why would there be a change in my interest rate?

By changing the interest rate, Vanquis Bank is able to respond to changes in the economy, to the cost of providing credit, and to changes in your financial position.

Without such an adjustment to interest rates, Vanquis Bank may need to withdraw your card or to apply new charges.

 

How often will you change my interest rate?

Within the first year as an Argos Credit Card customer your interest rate will only increase because of changes in the economy. After the first year, your interest rate will not increase more than once every six months.

Vanquis Bank will write to tell you of any increase in interest rate, the cost, and any options that may be available to you. You can also request information on how and why the rate has changed.

 

Will I be able to keep my current rate and pay off my debt?

Vanquis Bank will write to tell you of any interest rate increases. If you're unhappy with your new rate and you wish to close your account, you must contact Vanquis Bank within 60 days from the date you receive the letter.

Before your account can be closed you’ll need to be able to clear your outstanding balance at the existing rate and you won’t be able to make any new purchases on the card.

 

 
Support/feedback

I'd like to talk to someone about the Argos Credit Card before I apply. Can I do that?

Yes, of course. Just call 0871 770 3060* and Customer Services will do their best to answer your questions.

Do I need any special software to use the site?

No, you should be able to view everything on the Vanquis Bank site without any problems.

My internet browser is not showing the site clearly, why is this?

This might be due to the browser that you’re currently using, the Argos Credit Card site supports Internet Explorer 6 and 7, Firefox 2 and 3, Safari and Google Chrome. If you do not have one of these internet browsers then you may not be able to access this service.

Why doesn't my internet browser show the site clearly?

The Argos Credit Card site supports Internet Explorer 6 and 7, Firefox 2 and 3, Safari and Google Chrome. If you don't have one of these browsers, you may not be able to access this service.

Is the information I give you on this site secure?

Yes, Vanquis Bank collects and stores your data securely. On the application page you should see that the webpage address changes from http:// to https:// which indicates that the page is secure. In some browsers you will also see a padlock on the browser to indicate that the page is secure.

What should I do if I have a complaint?

Vanquis Bank hope you won’t have a reason to complain, however if you do wish to make a complaint you can:

  • Call Customer Services on 0871 770 3060* and they will do their best to resolve your complaint.
  • Write to Vanquis Bank please send your letter to Argos Credit Card, Customer Service, PO Box 399, Chatham, ME4 4WQ.

If Vanquis Bank can’t resolve your complaint to your satisfaction, you can refer to the Financial Ombudsman at www.financial-ombudsman.org.uk.

* Calls to 0871 numbers will be charged at 7p per minute from a BT landline. Calls from mobiles and other networks may vary