Vanquis Bank Limited

Financial Ombudsman decision DRN6147698 Upheld

Upheldoutcome, as published by the Ombudsman

£300redress stated in the decision

Sun Jun 30deadline to accept (not the decision date)

The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.

What this decision was about

Irresponsible lending, Charges and fees

In the Ombudsman’s words

I believe the credit limit increase to £3,000 in January 2016 was unaffordable.Irresponsible lending

Refund all interest and fees added to Mr G’s account after his credit limit increase to £3,000 took effectCharges and fees

Rules cited

FCA CONC (Consumer Credit sourcebook)

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN6147698.pdf on financial-ombudsman.org.uk.

The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.