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

smcg2212

grumbler wrote: »

http://www.aquacard.co.uk/interstitial?ctype=reward

Thanks Grumbler!
My wife's just applied via this link. Couldn't find the offer anywhere else.
I've had one for a while and got the max credit limit of 1,600. Don't know if I was just lucky or if it was my credit rating. I had just cancelled two credit cards that I no longer needed, maybe that helped.

IsaCream_Man

assj wrote: »

Same here, it's getting worse!

Back to normal first thing this morning, and still fine at 2pm as well. Possibly too many people on the internet at peak times?

Blue_Max

I tried many times to register for the Aqua Credit Checker but the same screen re-appears!
Has anyone had tried?!

StevieJ

Blue_Max wrote: »

I tried many times to register for the Aqua Credit Checker but the same screen re-appears!
Has anyone had tried?!

I registered and got a message 'thanks for registering' on the screen, I assume they will send details to my email at some point.

aleph_0

Blue_Max wrote: »

I tried many times to register for the Aqua Credit Checker but the same screen re-appears!
Has anyone had tried?!

Aqua Credit Check is basically a branded version of noddle, so you might as well register direct. The FAQ suggests new aqua customers also get noddle improve free through them, but existing customers don't.

StevieJ

aleph_0 wrote: »

Aqua Credit Check is basically a branded version of noddle, so you might as well register direct. The FAQ suggests new aqua customers also get noddle improve free through them, but existing customers don't.

If they are doing it for altruistic reasons that wouldn't really make sense, but we know it is really being done to drum up trade

• Service launched in response to Mind the Credit Gap report showing 1 in 2 UK adults are at risk of being declined credit and 53% don't know how to improve their credit score

SammenForLivet2

Uplink wrote: »

Highlight mine. Perfect scorers get the FQ treatment with Aqua. But if you actually get 1600 (please come back and update us when you have your card and know the exact limit) because you have debts, that's saying something.

Nobody owned up about having debts in this thread so far (or I forgot about it), but incidentally I was reading the Credit Rating page on the MSE website just the other day, which says that "how much money they think they stand to make off of you" can be part of your score for some institutions. If you get that limit in writing, it would be a great confirmation of this theory. (I get the same feeling about Nationwide, where I'm trying to get a full VISA debit card, who were quite direct in asking me if I wanted to apply for their credit card while just sitting the lobby with no "I got only a cashcard+ two days ago" label on my forehead, and the way the guy couldn't turn away fast enough when I owned up).


I for one don't have much credit history, no debts, no defaults. I wonder if I should start a rolling debt on a CC in order to increase my attractiveness. I think it could go something like this: Change DD to minimum payment, make FP a day or two before statement so I leave 6 quid for the statement. DD will take 5 pounds, leaving 1 pound to roll over. At say 40% APR - just an example - that's 40p per year of interest. I wonder if that would make any difference (good or bad). I'll be taking a look at my credit file later in the month to see how my CCs appear there (~6 months of having CapitalOne and ~4 of Aqua CC), and think about it. Of course, on manual review they'd see that I'm taking the mickey, but their automated systems may flag me as "sucker", which, I guess, would be good Unless they're clever and flag me as "P. I. Staker" instead, of course.

Edit: I forgot to mention how the tone of voice of the Aqua operator who activated my card changed from "I'm so happy to be speaking to you, there is nothing else in the world I'd like to more at this point" to "Oh, you're one of those people... Wish I could take your card back this late in the process." when I said I wanted the DD to take the statement balance in full.

Just to update - I received my card on Tuesday (very long winded proccess) and yes, the limit is £1,600.

In addition, I thought that I would mention that when applying - they said the T&C's have changed (to my advantage) and that they will now be treating money transfers as a purchase. I asked what a money transfer is - it is sending payments abroad using Forex companies e.c.t.

Also, first impressions are -they don't give you long to pay from the statement date - mine is the 2nd April and I have to 16 to pay - which if you use the giro slip by cheque (Which I do to support my local branch) means that I will have around a day to get it paid or I will miss the deadline.

In addition, I found the website very, very basic (on-line servicing).

However, that said, I look forward to earning my 3%.

Edit: Sorry - I don't understand by what you mean 'That's saying something' - Yes, I do have debt and I try to utilize it efficently - obiviously, I don't like oweing people money - but yes, I do - but I would not call myself sub-prime or low grade. I have never been a 'Specialist Credit Provider' bar Aqua, but Yes, I do have a loan (for emergency house repairs) and a 0% card to pay for my new boiler. Are we refereeing to the fact that perhaps the favor 'less grade' credit that 'top grade' credit profiles?

Uplink

macfamilyent wrote: »

Edit: Sorry - I don't understand by what you mean 'That's saying something' - Yes, I do have debt and I try to utilize it efficently - obiviously, I don't like oweing people money - but yes, I do - but I would not call myself sub-prime or low grade. I have never been a 'Specialist Credit Provider' bar Aqua, but Yes, I do have a loan (for emergency house repairs) and a 0% card to pay for my new boiler. Are we refereeing to the fact that perhaps the favor 'less grade' credit that 'top grade' credit profiles?

I'm low grade, and they gave me the minimum they could. I don't have any debts though. My reasoning is that they saw your debts and rubbed their hands, hoping you'll slip up and pay them interest. Excellent scorers got stupidly low limits as well. It's the debt level were us low limit guys seem to converge (but my brain isn't working right now, so I can't verify this claim in past posts).

Blue_Max

Uplink wrote: »

I'm low grade, and they gave me the minimum they could. I don't have any debts though. My reasoning is that they saw your debts and rubbed their hands, hoping you'll slip up and pay them interest. Excellent scorers got stupidly low limits as well. It's the debt level were us low limit guys seem to converge (but my brain isn't working right now, so I can't verify this claim in past posts).

You are spot on!

I have an excellent credit rating and other credit card companies give me as much £8000 credit.
But with aqua credit limit was only £500. After pestering them, recenly it got increased to a less miserly £650.
I don't have any debts. I always pay in full. I set up a DD to make sure of that.
Another thing that makes me 'low grade' is that I have credit cards that I have not used for a while.

As Uplink pointed out, in the Credit Rating page on the MSE says "how much money they think they stand to make off of you" can be part of your score for some institutions.

So I guess, 'high grade' people that Aqua is looking for are those with debts but without defaults and pay a lot of ineterst charges.

Blue_Max

macfamilyent wrote: »

Also, first impressions are -they don't give you long to pay from the statement date- mine is the 2nd April and I have to 16 to pay - which if you use the giro slip by cheque (Which I do to support my local branch) means that I will have around a day to get it paid or I will miss the deadline.

Consider setting up a DD.
Pay in full if you can, as the interest rates by Aqua are extortionate!
Then there is the risk of loosing of all the 3% cashback you earned.