Aqua Card credit increase...

Cancel my old credit credit with the different company before asking Aqua card to increase my credit limit, will that make a difference?

Thank you
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Comments

  • grumbler
    grumbler Posts: 58,629
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    Not much, unless you have Aqua for more than 6 months.
    Even after 6 I don't think that they do a new credit search to increase their miserable limit.

    I mean Aqua Reward, don't know about their other cards.
  • Tixy
    Tixy Posts: 31,455 Forumite
    Its possible it might improve your chance, but not very likely.

    Its likely if you ask for an increase to a limit they won't do a credit check but will look at your usage of the card and compare that and the current limit to your income.

    Its only likely to make a difference if they do a credit check prior to making a decision and would otherwise refuse due to you other available credit compared to your income. Plus you;d need to leave it long enough for the fact that you had closed the old account to register on your credit file (which could take a few weeks).
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  • Thank you for the replies.

    It's been two months since I've had the Aqua reward card.

    I'll leave it a month or two...
  • Do Aqua routinely increase limits without having to ask? I see a lot of people with pretty low limits on it, don't think I've heard of anyone with more than about £1k.

    Don't have one myself and don't intend to - thought about it for the cashback and foreign spend but I like to pay off in full each month and can't be bothered with making additional payments to keep within the limit.
  • aleph_0
    aleph_0 Posts: 539
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    The experience in the aqua reward thread is that of quite a few members having the limit doubled from £250 to £500 after 6 months. I asked after 6 months, and got it increased to £350. Most others who asked seemed to get similar.

    I expect after 6 months, they do their magic calculations, and if the magic calculations give an increase to £500 (or more generally, an increase of £250, or doubling, or whatever), they do it automatically, Otherwise it's possible the increase by asking.
  • Bufger
    Bufger Posts: 1,857
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    I've only just got mine and it starts at 500. I'm not sure how the increase is calculated but i've read of some going from 250 to 350, some others from 250 to 500. I havent read of anyones increase starting from 500.

    There are also 2 users on this forum that have said their starting credit limit was the maximum of 1600.
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  • older_wiser
    older_wiser Posts: 2,446
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    my increase more than doubled my credit limit so it does happen i did leave a balance once or twice just in case this helps with credit increases in the the 7 months i've had it but the interest was afew pounds. i was making multiple payments to aqua each month so the increase is very welcome. i'll try to get as close to the 100 cashback as i can and this increase should help with that.
  • matthew57
    matthew57 Posts: 138
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    I started on £500 and asked to be increased to £1000. They rose it to £650 (was expecting £750 but it still helps).
  • Exactly the same result for me this week - 500 to 650 after a 1000 request. I guess this suggests that this is the standard minimum increase from 500. As it happens the 650 is really not much more use to me as the one-off 500+ transactions I'd like to put on the card easily exceed 650.

    Still useful to know that they will approve increases of some sort after 6 months - I" waiting to see if they did a fresh credit search or just based it on account conduct.
  • kaych
    kaych Posts: 376
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    Have requested to increase my limit about 4 months ago and was rejected (had the card for about 4 months then). Then got a letter about a month ago which increased my limit from £500 to £750. Very useful as a limit £500 meant I had to check my balance every time I made a slightly larger spend on the card, just to be sure that I didn't go over the limit and lost everything!
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