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

lisyloo

Are we all going to wait now for a letter stopping the 3% cashback?

No - I'm waiting for one of you to say you have cashback printed on your 1st statement of year 2.

(I know they can't withdraw it without notice but it would be nice to have it confirmed that it's acruiing).

aleph_0

Guys, I know it's been said before - but - there are plenty of products that stay on the same terms for years, even if they're withdrawn to new customers. I don't understand the point in constant speculation/worrying. Just mitigate the risk by doing your spending as early in each card year as you can.

It's worth noting that if they wanted to withdraw it, last month before a large amount of customers start their 2nd year, would have been the perfect time to do so. They didn't. I suspect there are less of us always-pay-in-full, spend-exactly-£3,334 customers than we like to imagine.

212

Herbalus wrote: »

We find ourselves in the questionable position where we hope that Aqua is making a lot of money from some poor souls, who quite possibly can't afford it, so that the business model works and we can get 3% cashback.

But then I guess that's how all cards work.

I guess so - the only 'positive' is that for some of those Aqua may well be their last resort before a payday loan. So they could be quite happy in comparison to pay Aqua 45% or whatever as and when they need it, rather than the usual £10 per £100 to a PDL company with higher interest/fees etc.

Of course there are some who spend stupidly and get charged, and it seems harsh, but ultimately that's how 'free banking' for current accounts has continued for so long - benefit is free for all, unless you do wrong, then they penalize you for unauthorized O/Ds etc etc.

aleph_0 wrote: »

I suspect there are less of us always-pay-in-full, spend-exactly-£3,334 customers than we like to imagine.

I think this is the case too - I'm constantly astounded by people's lack of basic financial knowledge (even things like compound interest) so although it seems like the perfect abuse for us, plenty are not getting anywhere near maximum benefit.

My friend got the same credit limit and terms as me. Has no other cards/debt etc. I made sure they set up a full d/d, and explained re: cashback etc. They have only used Aqua for ~£400 in total in 4 months, and still used a debit card - I suspect there are plenty more like that, who will only get say £10 or £20 cashback in the year even if they aren't paying interest.

212

Also just noticed you can pay Aqua with a Mastercard (Creation Finance also let that happen but many others don't).

As I'm not spending on Aqua at the moment (need to use my 0%s) I'm tempted to spend on it for the 3% c/b, then pay it back with one of the 0% Mastercards.... just a gamble as to whether Natwest, RBS and/or HBOS would allow that as a purchase or cash!?

Blue_Max

My partner wanted an Aqua Reward Card. But it is no longer listed at aquacard.co.uk.
I phoned 0113 244 8986. After going through various options of their automated system, I got to talk to a real person. He had to keep asking his collegue and after some 10 minures was told that Aqua is not current offering the Reward Card, but may do so in future.
I asked him if the Reward Card is likely to be cancelled? I did not get a definite answer. Was told that "if a credit card get canelled, you will be informed".

Uplink

yellowmonkey wrote: »

Yep still cant get into statement page :mad:

*touch wood*

Since the day after my last moan about the "unexpected error" (the one after I managed to log in the first time since the new site went up), the Aqua website has fully worked for me without a glitch - statement pages too.

The only problem I have now is with the "login" button on the Aqua homepage. The Javascript that tracks my click on that button appears to be broken (I get an undefined symbol error in the Javascript console when I click it, and then the browser doesn't go anywhere), and I have to copy the link by hand to get to the Internet banking page.

Uplink

Herbalus wrote: »

We find ourselves in the questionable position where we hope that Aqua is making a lot of money from some poor souls, who quite possibly can't afford it, so that the business model works and we can get 3% cashback.

But then I guess that's how all cards work.

Those poor* souls would do this anyway. If it's not us, it's Aqua who get their money, with no difference to them. I'm happy to get 3% off of them in this case.

*that's a nice pun over there

Uplink

Blue_Max wrote: »

I asked him if the Reward Card is likely to be cancelled? I did not get a definite answer. Was told that "if a credit card get canelled, you will be informed".

What did you expect him to say? They have no instructions on the matter, and all they can say is something that matches the terms and conditions.

Maybe cancelling the cards didn't cross their minds, but with enough people asking for it, they may as well do it :eek:

Gromitt

Blue_Max wrote: »

My partner wanted an Aqua Reward Card. But it is no longer listed at aquacard.co.uk.

I don't now about you, but I was told it was limited availability, so it looks like they have enough people, but if enough cancel the card or they want more people, they'll re-open it for applications.

I wouldn't say the end was nigh just yet.

Herbalus

Uplink wrote: »

Maybe cancelling the cards didn't cross their minds, but with enough people asking for it, they may as well do it :eek:

People are talking almost as if they want Aqua to cancel the card. I bet it's just jealousy from those who didn't get a card before they stopped accepting new applicants!!!