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  • FIRST POST
    • keepsim
    • By keepsim 16th May 17, 3:42 PM
    • 18Posts
    • 1Thanks
    keepsim
    Aqua Credit card
    • #1
    • 16th May 17, 3:42 PM
    Aqua Credit card 16th May 17 at 3:42 PM
    Hi,
    Just want to get some feedback as I've heard many a times people saying some credit building credit card helps you to increase your credit rating?

    I already have 2 credit card (big names banks), which I use/payback regularly. My Credit rating is high but not highest,

    In my case, would getting a credit card like Aqua help increase credit rating further? I would just be using it for low-value transactions, setup direct debit to payoff monthly.


    thanks
Page 1
    • StopIt
    • By StopIt 16th May 17, 3:46 PM
    • 486 Posts
    • 420 Thanks
    StopIt
    • #2
    • 16th May 17, 3:46 PM
    • #2
    • 16th May 17, 3:46 PM
    No.


    Lenders look at your credit history sure, but these cards are designed for people unable to get high street cards and are no better on your files than the high street ones.


    Remember your rating is meaningless but your history is not. Anything like missed payments, defaults or CCJs on the negative side, or long standing accounts, settled accounts and CC's being used responsibly on the positive side are key indicators.
    • Ben8282
    • By Ben8282 17th May 17, 12:47 AM
    • 1,913 Posts
    • 831 Thanks
    Ben8282
    • #3
    • 17th May 17, 12:47 AM
    • #3
    • 17th May 17, 12:47 AM
    If you already have 2 credit cards from 2 big name banks then it is unlikely that there is anything particularly wrong with your credit worthiness.
    Why do you imagine that getting a card from Aqua, with the inevitable low credit limit, would help any more than obtaining a 3rd mainstream credit card from another big name bank?
    Why do you imagine just using the card for low value transactions would help either? What's wrong with high value transactions? After all, if it's better credit limits you are after you do have to spend money on the cards to get such limits. Why would anybody increase the credit limit of a customer who only ever makes low value transactions?
    What is the objective of this desired improvement on your credit rating?
    • stuart30
    • By stuart30 17th May 17, 10:25 AM
    • 495 Posts
    • 213 Thanks
    stuart30
    • #4
    • 17th May 17, 10:25 AM
    • #4
    • 17th May 17, 10:25 AM
    Forget Aqua..i went to use mine the other day for the first time and soon as it touched the terminal,felt a splash and it vanished in a watery pool of errr water...lol.

    The joke is about as much help as the card would be mate..if you have main stream cards,then you dont need a sub prime card.

    Just think of credit cards like women (this wont end well..lol.)

    The high end cards with huge credit limits are like a super model,long legs and makes everyone wish they could have some of that.

    Your Barclay card type cards are what average people get and can be compared to the middle aged house wife who is still worth a second look but average at best.

    Then you have your Aqua/Capital 1 type cards..now these are the piggy looking women who wear 2 size too small leggings,with knickers showing through..eat three gut buster fried breakfast before downing a gallon of cheap supermarket cola before going to weight watchers.

    Just as in life..take care of what you have,look after it and after some time it will repay you handsomely.
    • TheDebtinator
    • By TheDebtinator 17th May 17, 12:10 PM
    • 215 Posts
    • 61 Thanks
    TheDebtinator
    • #5
    • 17th May 17, 12:10 PM
    • #5
    • 17th May 17, 12:10 PM
    Interesting. I have an Aqua card and a BarclayCard (had this for years). I took out the Aqua card to rebuild my credit worthiness and it worked for me. Having now obtained a mortgage, should I be looking to cancel my Aqua card? I rarely use it these days anyway.
    • StopIt
    • By StopIt 17th May 17, 12:16 PM
    • 486 Posts
    • 420 Thanks
    StopIt
    • #6
    • 17th May 17, 12:16 PM
    • #6
    • 17th May 17, 12:16 PM
    There's no real harm either way. It's always prudent to have 2 CC available in case you ever need a bit of mild rolling credit use without paying interest.
    • TheDebtinator
    • By TheDebtinator 17th May 17, 12:51 PM
    • 215 Posts
    • 61 Thanks
    TheDebtinator
    • #7
    • 17th May 17, 12:51 PM
    • #7
    • 17th May 17, 12:51 PM
    I'm thinking more so from the fact it is a sub-prime card, rather than one of the normal jobbies...

    Cheers.
    • john1002
    • By john1002 17th May 17, 12:58 PM
    • 824 Posts
    • 349 Thanks
    john1002
    • #8
    • 17th May 17, 12:58 PM
    • #8
    • 17th May 17, 12:58 PM
    But other than you No credit provider knows it's a sub prime card especially if like me your limit is over £4000.

    John
    • BatchedMetting
    • By BatchedMetting 17th May 17, 1:43 PM
    • 74 Posts
    • 6 Thanks
    BatchedMetting
    • #9
    • 17th May 17, 1:43 PM
    • #9
    • 17th May 17, 1:43 PM
    The high end cards with huge credit limits are like a super model,long legs and makes everyone wish they could have some of that.
    Originally posted by stuart30
    What's an example of a high end card that will impress other lenders?

    I take it Natwest and Virgin won't cut the mustard!
    • TheDebtinator
    • By TheDebtinator 17th May 17, 3:35 PM
    • 215 Posts
    • 61 Thanks
    TheDebtinator
    But other than you No credit provider knows it's a sub prime card especially if like me your limit is over £4000.

    John
    Originally posted by john1002
    My limit is £2500 IIRC.
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