Aqua card - credit limit highier than £3750

I kept getting declined by them, only showing as 10% on all the eligibility checkers.

Stuck an application through for the Reward Card in November 2016 just for the fun of it.... (about the 15th one in that 12 months) to see what happened (bearing in mind I had 90 odd searches at the time). Referred, as per usual.... but amazingly, a credit card dropped through my door.

£900 starting limit too (higher than the limit I defaulted with a few years previously!)

Asked for an increase to £1,500 in January, as £900 isn't really enough, especially if trying to keep utilization of each card < 50%. They declined it and went on about how affordability was assessed at application so must be correct etc etc, try again after 6 months.

Asked again in May, this time for £1,750, which I thought would be a fair increase. They gave me £1,950, effective immediately. So an increase of £1,050, the day after my 7th statement, but only by request. My 1st statement was very low value as it was within 2 days of the card arriving!

Can you only hold one from NewDay? I'm still 10% chance for all Aqua cards. Tried the Amazon one just to get the £20 voucher and they said no on the soft search.

Spent about £4k on it, so will probably hit £25 in cashback by the end of the year.

As they seemingly don't want to auto increase me, and I'm stuck with these 2 cards for the next year at least, I'm tempted to just keep asking for £500 every few months and seeing what happens....

Current util is 13% on Cap1, 38% on Aqua - so I'd imagine any manual increases would be declined due to relatively low usage, they'd know I'm just trying to bump my file!

adindas wrote: »

Many people are using credittcard as a method of payment and not intended to get a loan. If you want a loan, in general it is cheaper to apply for a loan rather than using credit card.

Completely agree with both those points

adindas wrote: »

So interest here is irrelevant as you will never pay interest if you clear your statement balance in time.

I don't agree it's irrelevant - it's still important to be aware of, and if the user can switch to a prime card at any point in the future, then to take it.

I say that purely because you never know what life will throw at you.

At the monthly peak, my combined max balances on credit cards is about £1,300. Part of that is to 'play' the 50 odd days interest free, part of it is just normal spending.

If something were to happen that ment I could not pay my full balance back immediately, I'd have no choice but to make the minimum payment (or more), but thus incur interest at the rate of the card.

For me, that's Aqua Reward @ 34.9%, and Cap1 Platinum @ 29.84%. I know both of those use risk-based pricing, so my rate may be lower than others.

If I had £1,000 on a card, and couldn't repay in full next month, I'd be happier knowing it's on the Cap1 than on the Aqua. I'd be much happier knowing it's on the Cap1 or Aqua than say a Tier H Vanquis Card @ 79.9%!