New Aqua Credit Card Interest Rates Letter

TheGenerus1

Davie2909 wrote: »

Went from £350 to £850 then stayed at that till i closed it.
My account was perfect the woman actually commented on how well it had been run
Balance was about £700 but that was paid off before canceling

How long did you have the account before you closed it and how long into the account did you get the raise?

Samantha22

alfred64 wrote: »

Aqua have upped their rates to quite a lot of people.
I closed my account with them 18months ago and have moved on, but a friend of mine has rates of 39.9% which are due to rise to 45.9% and for cash to 49.9%. I think he will cancel.
Aqua is fast becoming the new vanquis, I feel.

Alfred,
As far as I'm aware, Aqua is part of the Vanquis group. So, it stands to reason that they will also have a high APR, and will rise in tune with Vanquis.

Regards,
Sam 22

Davie2909

TheGenerus1 wrote: »

How long did you have the account before you closed it and how long into the account did you get the raise?

About 3 years i had the account and i got a raise after 4 months no other raises since even though the account was run well

[Deleted User]

Samantha22 wrote: »

Alfred,
As far as I'm aware, Aqua is part of the Vanquis group.

Only if they got taken over last night.

Davie2909

Samantha22 wrote: »

Alfred,
As far as I'm aware, Aqua is part of the Vanquis group. So, it stands to reason that they will also have a high APR, and will rise in tune with Vanquis.

Regards,
Sam 22

Unless Progressive credit is part of Vanquis then i think you may be wrong

rartherinv

The aqua card is underwritten and managed by SAV Credit Ltd and the card is issued by Progressive Credit Limited.

Think you are confusing it with GRANITE which is a vanquis/provident derivative

TheGenerus1

Davie2909 wrote: »

About 3 years i had the account and i got a raise after 4 months no other raises since even though the account was run well

Exactly the same as me except I have had the account for 2 years. I got a increase after my 4th statement but have not had an increase since.
I spoke to a couple Aqua customers service staff last week who told me that they very rarely give automatic increases anymore due to the economic climate, only a handful of accounts get automatic increases now. This is the reason they have an online limit increase request button as well as the ability to manually ask a customer advisor for an increase.
With all the other subprime card issuers they do not accept manual requests for an increase as it is only a fully automatic computer process.

Simon7685

I have been waiting for a interest increase letter dropping through my letter box but nothing as yet, I hope it stays that way too, my rate since opening the account last July is 39.9%.

I stated at £250 limit and got an increase in December to £500, it was an automatic increase, not a manually requested.

echobunny76

Simon7685 wrote: »

I have been waiting for a interest increase letter dropping through my letter box but nothing as yet, I hope it stays that way too, my rate since opening the account last July is 39.9%.

I stated at £250 limit and got an increase in December to £500, it was an automatic increase, not a manually requested.

Well so far I have had the Aqua card (issued originally by Halifax card services but now progressive credit) since April last year, my apr is 35.95%, I started with £300 limit and have had 4 automatic increases and I am now on £1600.
I only sometimes pay off the outstanding balance, I never use more than 70% of my limit but I always pay more than the minimum amount.

However I also have 2 of the Creation credit cards and it has a much lower APR and they gave me a much higher initial limit, they are pretty good and have lots of different cards allowing you to do 0% balance transfers and even earn rewards points for marriot hotels and flybe airlines.
Please though only take what cards you can afford and close cards that you don't use as lenders may not want to overload you with credit depending on you're combined credit limits.

I hope this helps in any way. :money:

TheGenerus1

echobunny76 wrote: »

Well so far I have had the Aqua card (issued originally by Halifax card services but now progressive credit) since April last year, my apr is 35.95%, I started with £300 limit and have had 4 automatic increases and I am now on £1600.
I only sometimes pay off the outstanding balance, I never use more than 70% of my limit but I always pay more than the minimum amount.

However I also have 2 of the Creation credit cards and it has a much lower APR and they gave me a much higher initial limit, they are pretty good and have lots of different cards allowing you to do 0% balance transfers and even earn rewards points for marriot hotels and flybe airlines.
Please though only take what cards you can afford and close cards that you don't use as lenders may not want to overload you with credit depending on you're combined credit limits.

I hope this helps in any way. :money:

Just got the Flybe card to BT my subprime cards onto (will be closing Monument,Aqua and cap1 classic now).

When I applied for the Flybe, it could only take 3 BT request on the application so I could not put down my Vanquis BT details.
The Credit limit only took into account the 3 BT that I put down and did not give me enough room to BT the Vanquis.
I was told by the Flybe rep that I am free to apply for any of their range of cards at any time (He said I could even apply now as it's showing that their search of my credit report created a good outcome and is already generating automatic promotional responses from their system, BTW only got he card today).

How long between your creation card application did you wait before applying for the other Creation card?