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

kaloss

lisyloo wrote: »

Err... you have to request the card before you get accepted so that's not possible.
You can of course cancel the account anytime you like, but you'd already have the card so you'd have to cut it up.



When you apply you agree to a credit check.
This is recorded.
A check is not an issue unless you have loads and then you can look desperate and it goes against you, so unnecessary checks are not advised.

If you get the account then your credit account and payment history will be recorded until 6 years after closure.
The credit limit will "use up" some of your credit allowance, so would potenatially stop you getting other credit.
Good payment history is a positive addition.
Bad payment history e.g. late payements is a negative addition.

Why would you apply for the card if you didn't want it?

You can of course cancel anytime you like e.g. the deal changes, but the history of what you have done will remain - that's the entire point of credit history :-)

I requested it and I got accepted. Now I need to provide a certified proof of identity. I realized I don't have time for that because I'm moving out to a new address in 2 weeks so there would not be enough time to receive the card. So I am basically planing not to sent any identity proof an do again the application after I'll move in the new address (in 1-2 months). Is that bad?

Hooloovoo

gener8or wrote: »

Few minutes later applied for Aqua and got 1.6k limit.

Strange

Not strange. That's the maximum limit provided by this card, as clearly stated several times on the website.

What is strange is the number of people who clearly sign up for something without reading what they are applying for!

lisyloo

I realized I don't have time for that

Ah right I see.

Is that bad?

Probably not.
The credit check will remain, but one is not a problem.
If you have loads of credit checks it becomes a problem as you then look desperate and lenders decline you, but one will not be a problem.

I know you didn't forsee this but in future it's probably not a good idea to apply unless you have time to see it through, to avoid unnecessary checks, but as long as you aren't making dozens of applcations it won't be a problem.

Hastobe_Katt

Hooloovoo wrote: »

Not strange. That's the maximum limit provided by this card, as clearly stated several times on the website.

What is strange is the number of people who clearly sign up for something without reading what they are applying for!

What isn't stated in the terms is that you are likely to be rejected if you have a perfect credit score and that, even if you are accepted, you may only get a poxy limit of £500.

Hooloovoo

Hastobe_Katt wrote: »

What isn't stated in the terms is that you are likely to be rejected if you have a perfect credit score and that, even if you are accepted, you may only get a poxy limit of £500.

Yes, but what's that got to do with the post to which I replied?

I would imagine you got rejected due to having £20k of credit already available. That's a common rejection criterion amongst many banks.

I have a perfect credit score and I didn't get rejected. But I have to admit I did get a "poxy" limit of £500.

callum9999

Hastobe_Katt wrote: »

What isn't stated in the terms is that you are likely to be rejected if you have a perfect credit score and that, even if you are accepted, you may only get a poxy limit of £500.

What is stated is that the maximum credit limit is £1600.

What is stated is that the APR is up to 49.9%.

If that isn't enough to make you question whether they want those with a "perfect credit score" - what is? If they barred people with good scores then maybe it would be worthwhile saying so, but it appears they don't - they just favour those with lower scores.

Hooloovoo

callum9999 wrote: »

What is stated is that the maximum credit limit is £1600.

What is stated is that the APR is up to 49.9%.

If that isn't enough to make you question whether they want those with a "perfect credit score" - what is? If they barred people with good scores then maybe it would be worthwhile saying so, but it appears they don't - they just favour those with lower scores.

What's someone on a six-figure salary bothered about a poxy £100 cashback for anyway?

Hastobe_Katt

Sorry Hooloovoo - I thought the comment was directed at me - my apologies.

I'm very careful about how I spend my money - just because you have a good income etc doesn't mean that you shouldn't be savvy in how you spend it. I have several cards - each for a different purpose. Some for spending abroad, some for the points, some for cashback, some for introductory offers which are not used again and cancelled. Every card is cleared each month by DD.

Just to add - I don't apply for credit cards every few weeks - my last card application was two+ years ago when Ryanair stopped accepting electron cards in favour of (any) prepaid card.

Hooloovoo

Hastobe_Katt wrote: »

I'm very careful about how I spend my money - just because you have a good income etc doesn't mean that you shouldn't be savvy in how you spend it.

Absolutely. But there does come a limit where it's no longer worth it.

On a £100k salary, assuming 1800 working hours a year, that's about £55 per hour. So if it takes you more than two hours of effort to get a new £100 cashback card then you'd have been better off doing something else!

trikidy

Hahaha, Wow Hastobe_Katt never been rejected before?

The same way 'good' credit companies reject poorer scores as they are not their target markets, aqua rejects those with perfect scores as they are not their target market.

It's really sad that you are getting so angry.