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

Joop_2

Thanks guys for your views, I will carry on using card and see what cash back I get.

Herbalus

This speculation is worse than the daily mail.

Cashback is assured by the T+Cs. There is no mention in the T+Cs of reductions, removals, or lowering limits , so the cashback will continue, according to the conditions of the account.

If they change the conditions, then please tell us. If not, all this waffle about 'will i get cashback in year 2?' is just noise, because the cashback continues. End of.

lisyloo

This speculation is worse than the daily mail.

On the whole I agree, but in this case it was information from Aqua themselves (or rather one of their call center operators).
I have not seen any speculation on this at all - out of interest which part is speculation?

IsaCream_Man

Herbalus wrote: »

... ...Cashback is assured by the T+Cs. There is no mention in the T+Cs of reductions, removals, or lowering limits , so the cashback will continue, according to the conditions of the account.

If they change the conditions, then please tell us. If not, all this waffle about 'will i get cashback in year 2?' is just noise, because the cashback continues. End of.

This what it says on my copy of the Credit Card Agreement Regulated by the Consumer credit Act 1974 on to which were stuck my Aqua cards received on 16 July 2012:

"11.8 We may change any aspect of our cashback program including the cashback types which can earn cashback, the amount of cashback payable on transactions, the minimum and maximum amounts of cashback payable as well as withdrawing the program entirely. We can do this by giving you 30 days notice. We will only do this if we have a valid reason for making the change which includes responding to:
a. changes in the way you use your account, or
b. changes in our funding costs or the other costs of administering your account for the cashback program."

Are these the T&C's you are referring to?

Herbalus

lisyloo wrote: »

On the whole I agree, but in this case it was information from Aqua themselves (or rather one of their call center operators).
I have not seen any speculation on this at all - out of interest which part is speculation?

Speculation has been rife on this thread - search back a couple of pages.

About this specific post, I would consider information that somebody posts on a public internet forum, saying it comes from a call center (which, as everyone knows, is not always your most dependable and trustworthy source of advice), with what I know myself.

Who knows if the question was clearly worded? Who knows if the call center staff understood the question correctly? Who knows if the poster understood the answer correctly? And these questions assume that the call center staff know the future business strategy that is developed and implemented from HQ.

Contrast this with knowledge that I have from a legally-binding contract that is approved by their legal team and proven by use, and I know which I will choose to believe.

Herbalus

IsaCream_Man wrote: »

This what it says on my copy of the Credit Card Agreement Regulated by the Consumer credit Act 1974 on to which were stuck my Aqua cards received on 16 July 2012:

"11.8 We may change any aspect of our cashback program including the cashback types which can earn cashback, the amount of cashback payable on transactions, the minimum and maximum amounts of cashback payable as well as withdrawing the program entirely. We can do this by giving you 30 days notice. We will only do this if we have a valid reason for making the change which includes responding to:
a. changes in the way you use your account, or
b. changes in our funding costs or the other costs of administering your account for the cashback program."

Are these the T&C's you are referring to?

Yes. The important part is the "30 days notice". As we haven't had 30 days notice of any changes, the cashback continues.

When I said there was no mention of removing cashback, I meant it didn't say it would be removed, not that there was no possibility of it being changed.

lisyloo

Who knows if the question was clearly worded? Who knows if the call center staff understood the question correctly? Who knows if the poster understood the answer correctly? And these questions assume that the call center staff know the future business strategy that is developed and implemented from HQ.

Contrast this with knowledge that I have from a legally-binding contract that is approved by their legal team and proven by use, and I know which I will choose to believe.

I take your point.

It doesn't mean that someone was idly speculating in this individual case though, they may have genuinely believed what they were told to be true and expect a friendly reception?

Herbalus

lisyloo wrote: »

I take your point.

It doesn't mean that someone was idly speculating in this individual case though, they may have genuinely believed what they were told to be true and expect a friendly reception?

Of course.

There are quite a few examples of people asking if cashback is continuing. I think you even said that someone receiving cashback in year 2 is proof of continuation, which could imply that proof is needed as there in uncertainty.

Other examples: post 1415 says

Did aqua announce if they are continuing with the 3% Cashback or is that being changed? Since they have pulled new application for the card?

Post 1391 says:

Bet the 3% doesn't last much longer either, now the card is no longer being marketed

That is all speculation.

Amy7

aleph_0 wrote: »

I had a £250 limit, requested £600 after 6 months, and was given £350.

I don't know whether the amount you ask for affects the decision, but I expect it's more likely that the just press a magic button, and the computer calculates how much they're prepared to give.

Same thing for me. My limit (£250 at the time) wasn't increased automatically after 6 months. So I had sent them a message through the online banking and I saw my limit went up to £350 a week later. I didn't receive any thing advising me that my credit limit has been changed.

How long do I have to wait to ask for an increase again?

Herbalus

Amy7 wrote: »

How long do I have to wait to ask for an increase again?

I would guess from your experience that you're on the 'standard' credit limit procedure, which, apart from a few cardholders who have magic powers/got special treatment, will be after month 10. Should be £500.

That's pretty much what the average cardholder on here has got.