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  • FIRST POST
    • aleph_0
    • By aleph_0 18th Jun 12, 4:50 PM
    • 502Posts
    • 330Thanks
    aleph_0
    Aqua Reward Credit Card - 3% cashback up to 100/year
    • #1
    • 18th Jun 12, 4:50 PM
    Aqua Reward Credit Card - 3% cashback up to 100/year 18th Jun 12 at 4:50 PM
    Edit 4/4/2013: The card is no longer available to new customers.

    Edit 14/10/2013: Aqua are sending out letters to some or probably all existing customers withdrawing the card in January.


    Simon7685 started a thread a few days ago, pointing out that aqua had redesigned their website, and launched a new card, the Aqua Reward card, but it didn't seem to attract that much attention. Key points:

    * Representative 34.9%APR
    * 3% cashback on all your purchases, up to 100, paid annually, rounded down to the nearest mutliple of 5
    * No foreign currency exchange fees making it free to use abroad
    * An initial credit limit between 250-1,600

    This seems like a pretty good deal for everyone. For higher spenders, one can just spend 3,300 a year to get the 100, and then the rest on their other card. For those on lower incomes, it is the only accessible card available. The APR is high, so one really does need to make sure it's paid off every month, of course.

    Most people seem to be given an initial limit of 250 or 500, but there have been some higher limits (up to and including 1,600) given. After 5 months, many received letters informing them they would get an increased limit (typically from 250 to 500). Otherwise, those of us who requested an increase after having the card 6 months typically had their limit increased by less than double (e.g. from 250 to 350, or from 500 to 650).
    Last edited by aleph_0; 06-01-2014 at 6:30 PM.
Page 47
    • DragonQ
    • By DragonQ 9th Dec 12, 8:56 PM
    • 1,896 Posts
    • 625 Thanks
    DragonQ
    My next payment date still says 26/11/2012, and my amount left to spend hasn't been updated to reflect my direct debit payment. >_>
  • luci
    What are the spending patterns on the two cards? Who's card is paying the household bills? Any one of you having debts? How about individual bills, like mobile phones? Any card constantly near the limit? How about constantly having a low balance? Is any of the cards used a lot more, and paid early so it can be used again before the DD is taken?

    I'm interesting the broad picture for my own statistical purposes. I wonder what makes them give someone an unsolicited increase early on, but reject another one.
    Originally posted by Uplink
    Both cards operated pretty much identical. We used OH's one for the first month then I started using mine. Both used for online spend, restaurants, shopping, both been used abroad. They are used as if they were 2 cards on the same account even though they are separate.

    Neither of us have debts, not used to pay mobile phone bills. OH's card was within 31 of the limit and mine 36, but both paid off with a manual payment next day. Same amount of manual payments.

    There is 300 difference total spend on each card between two, but they were practically the same when I was offered the increase.

    No rhyme nor reason for one being offered and the other not. Just strange that mine has been used for a month less.
    • Uplink
    • By Uplink 9th Dec 12, 10:12 PM
    • 224 Posts
    • 104 Thanks
    Uplink
    My next payment date still says 26/11/2012, and my amount left to spend hasn't been updated to reflect my direct debit payment. >_>
    Originally posted by DragonQ
    Did the direct debit get credited on your online statement though? If yes, then it just adds to my "staple" theory.

    Mine was debited from my current account and credited to my credit card on 3/12/2012 (in this case it was my bank who failed to show the DD as pending in the days prior).

    Call them up. Or, if you can wait a while longer, write them a secure message (same site with the online statement) so to see if they respond with "call this number", like they did when I contacted them about Aqua Secure.
    • Uplink
    • By Uplink 9th Dec 12, 10:19 PM
    • 224 Posts
    • 104 Thanks
    Uplink
    No rhyme nor reason for one being offered and the other not. Just strange that mine has been used for a month less.
    Originally posted by luci
    Right... I'll see my "staple" theory and raise myself a "lottery" theory. Feels like these letters are drawn out of a hat. If this is the case, I'm crossing my fingers for one myself
  • luci
    Applied via the website for an increase on OH's account and received the following response today

    Unfortunately I have been unable to increase your Credit Limit on this occasion. We routinely review credit limits every 6 months and provided there has been a clear payment history in that time, an increase may be granted.
    I had only been using mine for 3 months when I got an automatic increase.
  • iaintw
    You have to wait six months and they can write a letter to you with a increase Credit limited
    You also pay them in on time
    not any problems with late payment charges
    dont apply a increase or they can tell you about the increase credit limit
    They routed your limited by 6 months time after you paid them on time etc.
    this is the credit cards companies do.
  • dominiquereynolds
    happy
    Started using Aqua in August and up tp 75.43 cash back earnt so far :-)

    I asked for an Increase as I need to watch that I do not go over. Have ben making extra debit card payments to make sure I stay under the 500 limit. I also asked for an increase but states you have to be 6 months.

    Also thinking about getting one in wifes name so we can earn more :-)
  • blitzboy
    Started using Aqua in August and up tp 75.43 cash back earnt so far :-)

    I asked for an Increase as I need to watch that I do not go over. Have ben making extra debit card payments to make sure I stay under the 500 limit. I also asked for an increase but states you have to be 6 months.

    Also thinking about getting one in wifes name so we can earn more :-)
    Originally posted by dominiquereynolds

    Definitely get your wife earning it too if you spend enough. We both have this card and are both over half way there already, after 4 months. We have also already received a 100% credit limit increase (after 3 and a half months)
  • gener8or
    Big mess up this month, been away and forgot to transfer the required funds for the Direct debit in time.
    Missed it by 1 day and had a 12 fee, made an immediate faster payement the next day.

    Rang aqua and they said no worries we can see your faster payment and refunded the 12 without even asking.

    Asked them if it will affect my cashback, she said no, lets wait for the statement
  • sammyz1
    I got a letter for a credit limit increase. I wouldn't say I'm a big spender. I have a limit of 250 and because my direct debit is set on the 20th of every month, it's really a case of first month 250 spent, 2nd month, maybe 50 and Third month, 200. I really need to ring them and move my DD date but haven't been bothered. Hoping with the credit limit increase, I can catch up on cashback. Am now wondering if it's ben 40 days since the letter has arrived?...

    Also someone before my mentioned Page 45/45 about going over. I messed up my sums once and only had 30 left on credit and was buying...something. Short story transaction was denied. They didn't let me go over, thank god.
  • blitzboy
    I got a letter for a credit limit increase. I wouldn't say I'm a big spender. I have a limit of 250 and because my direct debit is set on the 20th of every month, it's really a case of first month 250 spent, 2nd month, maybe 50 and Third month, 200. I really need to ring them and move my DD date but haven't been bothered. Hoping with the credit limit increase, I can catch up on cashback. Am now wondering if it's ben 40 days since the letter has arrived?...

    Also someone before my mentioned Page 45/45 about going over. I messed up my sums once and only had 30 left on credit and was buying...something. Short story transaction was denied. They didn't let me go over, thank god.
    Originally posted by sammyz1

    You can just make extra payments via their website or via your bank.

    My credit limit was only 250 to start with but I spent way more than that each month.

    e.g. Pay 70 for fuel on Aqua card. Wait a few days for it to show on Aqua online. Pay 70 via faster payment. 250 available again
    • Gromitt
    • By Gromitt 14th Dec 12, 12:50 PM
    • 4,971 Posts
    • 2,378 Thanks
    Gromitt
    e.g. Pay 70 for fuel on Aqua card. Wait a few days for it to show on Aqua online. Pay 70 via faster payment. 250 available again
    Originally posted by blitzboy
    I don't even wait that long. Spent 70 on fuel, and then that night transferred that amount over. Next day my available balance is back to normal.
    • DragonQ
    • By DragonQ 14th Dec 12, 12:52 PM
    • 1,896 Posts
    • 625 Thanks
    DragonQ
    Yeah you don't need to wait until it appears on the statement. I would wait until the "available to spend" amount gets updated though, which can take anywhere from 5 minutes to a few hours.
    • boobbby
    • By boobbby 14th Dec 12, 1:42 PM
    • 750 Posts
    • 212 Thanks
    boobbby
    I don't even wait that long. Spent 70 on fuel, and then that night transferred that amount over. Next day my available balance is back to normal.
    Originally posted by Gromitt
    Yes!! I do it like that all the time in fact usually transfer a few pounds more than needed so I can buy smaller items withough having to top up. Faster payments usually means my available balance is up to the maximum (or just over) after just a 1 hour
    • aleph_0
    • By aleph_0 14th Dec 12, 3:38 PM
    • 502 Posts
    • 330 Thanks
    aleph_0
    Credit Limit Increase?
    I was wondering if many people had experience with requesting credit limit increases. More precisely, do they request income details, or is it the case of just entering the requested amount and waiting for a response?

    I can't decide whether to request an increase, or wait and see if a magic letter comes.
    • boobbby
    • By boobbby 14th Dec 12, 5:44 PM
    • 750 Posts
    • 212 Thanks
    boobbby
    I was wondering if many people had experience with requesting credit limit increases. More precisely, do they request income details, or is it the case of just entering the requested amount and waiting for a response?

    I can't decide whether to request an increase, or wait and see if a magic letter comes.
    Originally posted by aleph_0
    I requested an increase and they told me to wait until I had been a card holder for 6 months.
  • sammyz1
    You can just make extra payments via their website or via your bank.

    My credit limit was only 250 to start with but I spent way more than that each month.

    e.g. Pay 70 for fuel on Aqua card. Wait a few days for it to show on Aqua online. Pay 70 via faster payment. 250 available again
    Originally posted by blitzboy
    This is my very first credit card and not sure of the 'do and don't'.

    I read on the review centre that AQUA charged a couple of it's customers interest if they paid there balance early. I don't know if that's true but it made me a bit cautious.
    • aleph_0
    • By aleph_0 14th Dec 12, 6:29 PM
    • 502 Posts
    • 330 Thanks
    aleph_0
    This is my very first credit card and not sure of the 'do and don't'.

    I read on the review centre that AQUA charged a couple of it's customers interest if they paid there balance early. I don't know if that's true but it made me a bit cautious.
    Originally posted by sammyz1
    They don't (well, if they have done, no-one on here has had it happen, and it would be against their terms).

    One area where people do make mistakes is when they are carrying a balance (i.e. not paying off in full), and then not paying the minimum payment on the statement. E.g. statement at end of month, they make a big payment on 30th, payment comes in before statement is generated, statement requests minimum payment by 14th, customer doesn't make minimum payment, then complains because the paid 'early', in their eyes, rather than made another payment to the previous statement, which is what really happened.

    But anyone who is not paying off the aqua card in full is doing it wrong.
    • Uplink
    • By Uplink 14th Dec 12, 6:31 PM
    • 224 Posts
    • 104 Thanks
    Uplink
    I read on the review centre that AQUA charged a couple of it's customers interest if they paid there balance early. I don't know if that's true but it made me a bit cautious.
    Originally posted by sammyz1
    Err... link please? Charge interest for early repayment? If that's true, it's a huge bullet point in my "staple" theory, and I'll upgrade the title "staple gun and sellotape", and puts their standard CC services into a time before computers were invented, and I'll be downgrading THEIR credit score in my personal Credit Provider Rating Agency Sticky Note so I avoid them in the future (not that it's not on a downwards trend anyway).
    • boobbby
    • By boobbby 14th Dec 12, 6:38 PM
    • 750 Posts
    • 212 Thanks
    boobbby
    This is my very first credit card and not sure of the 'do and don't'.

    I read on the review centre that AQUA charged a couple of it's customers interest if they paid there balance early. I don't know if that's true but it made me a bit cautious.
    Originally posted by sammyz1
    That is rubbish... even if you only had a 250 limit by paying it of early you could spend 1000's every month. The only limit is that goods you buy must not exceed the the limit of your card before you top it up again.
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