Aqua Reward Credit Card - 3% cashback up to £100/year
Comments
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No I don't think so and it certainly wasn't intended that way.Rather patronising don't you think...
There have been lots of peple on these MSE boards who've faced late payment fees or forfeited cashback.
I am not saying they are stupid, there are lots of explanations. They might be a very intelligent jet setting exceutive who doesn't have time to log in daily or be a really busy mum that has other priorities.
Fine, but you need to be aware of the interaction between FPs and DD, which appears to vary by credit card company.I'm more than capable of making faster payments to each of my cards every month, but why on earth should I when Direct Debits can do the same job automatically...
I'm sorry if you took offence but many posters on MSE suggest DDs if the priority if making sure that at least minimum payments are made on time.0 -
To be fair, the "faster payments interfering with direct debits" issue only arises if your credit limit isn't high enough for your needs (as seems to be common with the Aqua card). With my other credit card my credit limit is ridiculous so I just have a direct debit to pay it off in full every month and that's the end of it.0
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To be fair, the "faster payments interfering with direct debits" issue only arises if your credit limit isn't high enough for your needs (as seems to be common with the Aqua card). With my other credit card my credit limit is ridiculous so I just have a direct debit to pay it off in full every month and that's the end of it.
I agree totally.
But it does seem to be very much an issue for people with Aqua who are micro-manging their tiny credit limit to get the cashback.
My suggestion was simply that if you a micro-managing it then it might be easier to dispense with the DD rather than take the risk of over-paying.
Of course everyone is perfectly free to ignore that suggestion, so I can't see the harm :-)0 -
callum9999 wrote: »Rather patronising don't you think... I'm more than capable of making faster payments to each of my cards every month, but why on earth should I when Direct Debits can do the same job automatically...
My Aqua limit of £500 is way too small to bother setting up a DD for. I did think about it, but it's really too much hassle. I check the balance weekly (sometimes daily) anyway as otherwise I find the available balance too low to make a purchase!
Now my other CCs which have limits of 3 - 10K, I check every month when I get the statement, and they are paid of by DD as its simpler.0 -
* An initial credit limit between £250-£1,600
The APR is high, so one really does need to make sure it's paid off every month, of course.
There is another catch besides the very high APR. They will charge you £12 for going over you credit limit. As you said the credit limit is pretty low, so there is a real chance that one would be going over the limit.0 -
I'm not sure why.so there is a real chance that one would be going over the limit
All you have to do is keep a running total or log on under normal circumstances.
BTW - A compnay once did have a resevation on my card without my knowledge (no stock). When my card would have gone over the limit, the next transaction was rejected.
Not sure if this always happens but Aqua themselves actually prevented it happening.0 -
There is another catch besides the very high APR. They will charge you £12 for going over you credit limit. As you said the credit limit is pretty low, so there is a real chance that one would be going over the limit.
Why is there? How hard is it to keep track of what you've spent and make more than one payment a month to the card if necessary?0 -
Why is there? How hard is it to keep track of what you've spent and make more than one payment a month to the card if necessary?
It happened on my Nationwide credit card with a £2000 limit due to unfortunate circumstances and assuming the direct debit would take care of it. Now paying £12 because I went over the £2000 is not too painful, but paying £12 for going over £250 is just wrong.
Of course if you keep track of your expenditure and pay off quickly, there should not be an issue. Unfortunately not everybody is like you.0 -
Your limit is £250 ? Wow. I thought mine was bad enough at £500. I just keep a mental note about what I've spent so far and pay it off once it gets to 50% of the credit limit and always check the limit before buying anything (or before I go out if I'm going to use the card at a shop). It seems that FPs are pretty much instant, so it works well. Heck, I can even do them on my phone if I forget.
Never had a £12 charge for an over limit. Had a late payment fee a few times, but that was because my statement said the balance would be collected by DD and then it wasn't. Got the fee back each time though.0 -
Of course if you keep track of your expenditure and pay off quickly, there should not be an issue. Unfortunately not everybody is like you.
Then they can't really complain if it goes wrong can they? It really takes very little effort to manage it, just log on, make a 'faster payment', and the available balance is altered almost immediately.
Bearing in mind that you will probably loose your cashback too if you go over the limit, this seems like the best (and an easy) solution.0
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