Aqua Reward Credit Card - 3% cashback up to £100/year

guesswho2000

izools wrote: »

When you receive the credit agreement to sign and return the limit you've been given is the first three (or four) digits in the long row of numbers on the "do not mark below this line" line.

I had an Aqua card in 2008, too, as it goes. Yeah, their online account servicing is still poor. It's more polished than it used to be, slightly, but still quite basic.

At least they now accept faster payments

Nationwide have been uber lax with me and my OH, they even upped my OD limit to £5,000 at the turn of the year! Crazies. Reduced that to £500 fairly quickly. And they gave my OH a £20,000 loan despite him having three pretty much maxed out cards at the time (85% debt to limit). And the APR was only 9.9%, which for a loan that size over seven years is actually quite good.

They were very odd last time I had one, when I applied I was declined, then a week later the card turned up, strange! The limit increased to £3,050 before I closed it too.

I figured the online bit was part due to their previous relationship with Halifax; Halifax's online service is terrible in my opinion!

However, good news on the FPs, I'll be making some mid month payments if I hit whatever limit I get then, will report back whatever I'm offered.

I'm very happy with Nationwide now tbh, they've given me good products and all in one place; I still have those elsewhere but as someone who is abroad regularly the Flexaccount travel cover is excellent and the credit card is great for purchases, so no complaints at all!

Frxn

See how some shops let you get cashback with your purchase, as it ups the price of purchase and you get the difference as 'change', is this still considered a purchase as far as the company can see, or a withdrawal?

Although this might only be a debit thing, Idk. Just curious as it would make getting the full £100 a lot easier.

grumbler

It's for debit cards only and, IIRC, a separate transaction, not a higher price.

Uplink

Frxn: Do remember that the store pays a percentage of your purchase to the card processor. They can't give you a cash advance and declare it as a purchase simply because they'd lose money. Not to mention the accounting nightmare later on, when the purchase doesn't have an inventory counterpart. Your Aqua cashback is pretty much a refund of that fee that the store paid when you bought your things.

On a debit card, they just switch to "cashpoint" mode or something, so you don't have to make an extra stop outside of the store. Following this line of thought, if they were to give you cashback on a CC, in "cashpoint" mode, you'd be getting a cash advance, with all the bad things that go with it.

I had an interest in this as well, with Paypal in mind. But Paypal won't leave CC funds in your account. You can't top-up the Paypal account with a CC. A refund for a thing paid by CC will not be left in your Paypal account for you to withdraw to the bank, but sent directly to your CC. If you paid from mixed sources (part Paypal funds, part CC), the Paypal funds are put back into your Paypal account, and the CC part is sent to the CC.

We're not the only "clever" ones you know

Plxply

grumbler wrote: »

It's for debit cards only and, IIRC, a separate transaction, not a higher price.

Some stores seem to classify certain credit cards incorrectly, I've been asked multiple times if I've wanted cashback on my Aqua credit card when it obviously prompted them on the till. The card is already in the reader at that point and just at the part before I put my PIN in so it obviously knows what kind of card it is.

Frxn

Figured as much, actually it was only because of the % the retailer gives them I realised it might not be such a good idea (though I would have asked anyway just to be sure)

The paragraph about Paypal is interesting, unfortunate we can't do that between two PP accounts:p

Gromitt

Frxn wrote: »

The paragraph about Paypal is interesting, unfortunate we can't do that between two PP accounts:p

You can, but you'll be charged 3.4% + 20p, so if you transferred £100 to another PP account via your CC, you'd actually receive £96.40 and then get £3 cashback from Aqua, so a net loss of 60p.

ringo747

I've just got my new card and have got a question. My credit card limit is £500. I intend to set up a direct debit to clear the full balance every month.

If I want to spend 2k in a given month can I just keep clearing the balance by making an online payment? So for example if I spend £400 tomorrow, can I make a payment of £400 at the weekend and then keep spending, or is it strictly £500 limit monthly?

DragonQ

Yes you can spend what you like as long as you aren't using more than £500 credit at a time. A Faster Payment to the card should apply within 2 hours but since the online statement takes forever to update I'd leave it one working day between clearing your credit and making a new large purchase.

older_wiser

aqua i've found takes awhile for the transactions to appear on the website but the available balance is usually spot on i'd do as the previous poster suggested unless your pretty sure what transactions you've made.