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  • FIRST POST
    memyselfandi1980
    Help with Aqua Card initial limit.
    • #1
    • 5th Jun 08, 4:53 PM
    Help with Aqua Card initial limit. 5th Jun 08 at 4:53 PM
    Hi all I'm new to your forum, which is excellent by the way.

    So I've just signed the credit agreement for an Aqua Card but I'm a little confused as to what my limit will be. The information on the agreement is unclear to me as I'm new to the credit card game.

    This is what it says on the back of the credit agreement:

    The total charge for credit is £264.56. consisting of £264.56 interest. This is based on credit of £1,500 being borrowed at the start of the agreement over one year at the standard interest rate.

    What does this mean? I haven't a clue! Does it mean I have a £1,500 limit or £200?

    Thanks very much.
Page 1
    • john1002
    • By john1002 5th Jun 08, 5:02 PM
    • 573 Posts
    • 221 Thanks
    john1002
    • #2
    • 5th Jun 08, 5:02 PM
    • #2
    • 5th Jun 08, 5:02 PM
    All it menas is they have used a general limit to show you how much potential borrowing would cost all lenders are now required to give this information, and most use a number of pre set examples like 1500, 3000 etc.

    Most online cards that tell you if you have been approved or not give a more precise format in the terms you electronically sign and do generally use the approved limit, aqua is not one of these and they do not have online account management, all done by phone due to its sub prime nature.

    Regards

    John
  • memyselfandi1980
    • #3
    • 5th Jun 08, 5:12 PM
    • #3
    • 5th Jun 08, 5:12 PM
    Thanks for clearing that up for me John.
  • skyrider007
    • #4
    • 5th Jun 08, 5:30 PM
    • #4
    • 5th Jun 08, 5:30 PM
    Capital One Classic have online banking, you may want to apply for one.
    • Tori Bellatrix
    • By Tori Bellatrix 5th Jun 08, 6:49 PM
    • 1,278 Posts
    • 609 Thanks
    Tori Bellatrix
    • #5
    • 5th Jun 08, 6:49 PM
    • #5
    • 5th Jun 08, 6:49 PM
    I've just got an Aqua card and my intital limit is £500
    Tori Bellatrix

    .·:*¨¨*:·..·:*¨¨*:·..·:*¨¨*:·.
  • londonuk2008
    • #6
    • 5th Jun 08, 7:16 PM
    • #6
    • 5th Jun 08, 7:16 PM
    which CRA do Aqua use Tori?
    • Tori Bellatrix
    • By Tori Bellatrix 5th Jun 08, 8:01 PM
    • 1,278 Posts
    • 609 Thanks
    Tori Bellatrix
    • #7
    • 5th Jun 08, 8:01 PM
    • #7
    • 5th Jun 08, 8:01 PM
    which CRA do Aqua use Tori?
    Originally posted by londonuk2008
    They searched with Experian initially but because my address was input incorrectly, they changed it and searched again with Equifax. (The search comes up as Halifax). They are also reporting to Equifax and not Experian at the moment
    Tori Bellatrix

    .·:*¨¨*:·..·:*¨¨*:·..·:*¨¨*:·.
  • memyselfandi1980
    • #8
    • 5th Jun 08, 8:02 PM
    • #8
    • 5th Jun 08, 8:02 PM
    Hey Tori,

    Congratulations on receiving the £500 limit. Hope I'm as lucky as you.
    How long did it take for your card to come after you posted your credit agreement?

    Lewis
    • Tori Bellatrix
    • By Tori Bellatrix 5th Jun 08, 8:05 PM
    • 1,278 Posts
    • 609 Thanks
    Tori Bellatrix
    • #9
    • 5th Jun 08, 8:05 PM
    • #9
    • 5th Jun 08, 8:05 PM
    Hey Tori,

    Congratulations on receiving the £500 limit. Hope I'm as lucky as you.
    How long did it take for your card to come after you posted your credit agreement?

    Lewis
    Originally posted by memyselfandi1980
    IIRC, they were a little slow ... I think I waited around 2-3 weeks for the card and PIN to arrive ..
    Tori Bellatrix

    .·:*¨¨*:·..·:*¨¨*:·..·:*¨¨*:·.
  • memyselfandi1980
    Thanks for the speedy reply Tori,

    I only applied for my card on 30/05 the agreement came on 03/06 so I'm hoping that they will be as quick with the card and pin.
    How long have you had your card?
    • Tori Bellatrix
    • By Tori Bellatrix 5th Jun 08, 8:16 PM
    • 1,278 Posts
    • 609 Thanks
    Tori Bellatrix
    About a month now ... no problems so far ... They don't have any internet service available but the automated telephone service works just as well for checking balances, payments etc ...
    Tori Bellatrix

    .·:*¨¨*:·..·:*¨¨*:·..·:*¨¨*:·.
  • memyselfandi1980
    @Tori,

    What sort of strategy are you going to implement, payment wise? I'm still trying to figure out the best way that I can to get a balance increase come review time.
    • Tori Bellatrix
    • By Tori Bellatrix 5th Jun 08, 8:31 PM
    • 1,278 Posts
    • 609 Thanks
    Tori Bellatrix
    Not sure really ... I swap between paying it off it full or paying part payments on my cards ... I think the main thing is that you keep all payments up to date and don't go over your credit limit.
    Tori Bellatrix

    .·:*¨¨*:·..·:*¨¨*:·..·:*¨¨*:·.
  • memyselfandi1980
    Thanks for taking the time out to answer my questions Tori.

    Hope you have a nice evening. Lewis
  • clio
    Tori
    well done on your endevours ..
    and you lewis as well..
  • Katie789
    which CRA do Aqua use Tori?
    Originally posted by londonuk2008
    I've had my Aqua card for a year now and they report to Experian and Equifax. Interestingly it's just shown as a halifax card rather than an aqua card on your reports so doesn't immediately flag up as a sub-prime card.

    They've given me limit increases every 4 months, the first 2 automatically (£650 to £1250 and then £1250 to £1650) and the most recent one I requested and they upped it by a further £300
  • katie1
    I've had my Aqua card for a year now and they report to Experian and Equifax. Interestingly it's just shown as a halifax card rather than an aqua card on your reports so doesn't immediately flag up as a sub-prime card.

    They've given me limit increases every 4 months, the first 2 automatically (£650 to £1250 and then £1250 to £1650) and the most recent one I requested and they upped it by a further £300
    Originally posted by Katie789
    Can i ask if you pay your balance in full every month or min payment??
    • cally6008
    • By cally6008 27th Apr 09, 1:36 PM
    • 7,323 Posts
    • 11,016 Thanks
    cally6008
    OH got approved for Aqua card and it came with a £750 limit on it. They now do have online access as he registered and set it up last night

    • oceanscape
    • By oceanscape 28th Apr 09, 8:10 AM
    • 374 Posts
    • 79 Thanks
    oceanscape
    About a month now ... no problems so far ... They don't have any internet service available but the automated telephone service works just as well for checking balances, payments etc ...
    Originally posted by Tori Bellatrix
    Yes they do - www.aquacard.co.uk then click on "login" at the top right.
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