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

SamDude

I've just checked my account and there is a £115 'LOYALTY AWARD' credit for yesterday.

The only thing I can think of to explain it would be the few occasions where I paid the balance mid-month to increase the amount available to spend (e.g. for large transactions over the £500 limit). Has this overcompensated my cashback??

My last statement was showing the cashback payable as £100, so that is what I was expecting.

Has anyone else had more than £100 cashback credited to their account?

Wywth

welshmike wrote: »

Given that people like me stick to the Ts & Cs, use the card only for purchases and pay in full by DD every month, I wondered how Aqua can make money out of us. Or do they charge retailers rather more than 3%?

They make their money from the poor saps that don't.

Have you seen the interest rates they charge? :eek:
(especially as BoE rate is only 0.5%)

... and fall foul of their terms and you can kiss any cashback goodbye for the whole year.

welshmike_2

Those of us who are careful with our finances and keep track of all income and expenditure will have done OK with Aqua. Given the current measly interest rates of about 1% on cash savings accounts, Aqua's £100 Loyalty Payment after 12 months is equivalent to the interest on a year's cash deposit of £10000 of course.

DragonQ

Yeah, switching bank accounts for rewards is also equivalent to a relatively high interest rate these days. Gotta be much cleverer than just dumping your money in the best saving account right now.

welshmike_2

Funding Circle may be of interest. When I understand all about it I'll begin to use it.

Herbalus

welshmike wrote: »

Those of us who are careful with our finances and keep track of all income and expenditure will have done OK with Aqua.

Agree. It's not too taxing.

welshmike wrote: »

Given the current measly interest rates of about 1% on cash savings accounts, Aqua's £100 Loyalty Payment after 12 months is equivalent to the interest on a year's cash deposit of £10000 of course.

None of my money is earning less than 3%

Pound

OllyM wrote: »

Yes, the 3% is continuing - I don't know why people keep thinking that it is going to end?

If it's not profitable then the offer will be pulled. They've already pulled the offer for new customers, it's only a matter of time before the offer is removed for existing customers as well.

I've had two cashback cards in the past, Accucard and Argos MasterCard. The latter I got an invite-only offer for 10% cashback in gift vouchers on Argos purchases which was excellent. Both of those got pulled after about a year.

Wywth

Pound wrote: »

If it's not profitable then the offer will be pulled. They've already pulled the offer for new customers, it's only a matter of time before the offer is removed for existing customers as well.

I've had two cashback cards in the past, Accucard and Argos MasterCard. The latter I got an invite-only offer for 10% cashback in gift vouchers on Argos purchases which was excellent. Both of those got pulled after about a year.

I've had a cashback card for years, decades even.

It was originally a MSDW card, iirc, and has gone through a few companies since, and is now a Barclaycard.

Still a cashback a card :beer: (although the rates are not as generous as they once were all those years ago)

Quartermass

I've just spoken to Aqua again. They have confirmed - as this thread believes - that the 3% continues for people who have the cards already. They did say that they'll have to let me know in writing before they can withdraw it and it's continuing month to month just now. I get the impression they expect to withdraw it, however I imagine that's just guesswork on their part.

They also agreed to up my credit limit to 850, which isn't really enough, but it's a lot easier to work with than the original 500.

So I'm switching back from the 0.5% on the capital one card to the 3% on the Aqua until I reach the limit.

luci

We've both had an AA Rewards Plus card for a couple of years, which they withdrew within 4-6 weeks of launching it. It is still paying 3% cashback on petrol and diesel and there are no plans to change that that I know of.

I also have the original Capital One World card which pays 1% on everything and have had that for many years.

I don't know why people keep questioning when the cashback is going to end or whether it will continue after 12 months. Did no-one read the T&Cs when they took it out? There was nothing there that said it was for 12 months, a year or any limited time.

Oh yes, and I got 1.1716 euro when I used it this weekend. Compare that to someone giving a heads up on another site that the rate was good here at the moment - 1.13 :rotfl: