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

lisyloo

I suspect the low limit is a trap to get extra revenue.

Probably not.
The card is a sub-prime card so it's intended for a certain target market.
I've got a £1850 limit.

Why don't you jsut make faster payments and reduce your balance?

Atidi

Mr_K wrote: »

The problem with this card is the low credit limit. £650 - means having to keep checking the balance, to make sure I don't go over it. On other cards my limits are several thousand and not something to I need to worry about/keep constantly track of. I suspect the low limit is a trap to get extra revenue.

There is a new 4% cashback card for fuel/supermarket shopping ( https://forums.moneysavingexpert.com/discussion/4807086) . tbh not sure I can be bothered as its likely to have the same low limit issue.

If you find a £650 limit is restricting, I would concur your decision not to bother with that 4% cashback card, as that only applies to fuel & supermarket purchases as you say, but also restricted to the first £225 per month spent there.

guesswho2000

Atidi wrote: »

Who spends £2 on a credit card anyway? :eek: I think it costs the retailer at least 50p for such a transaction, hence why many small retailers have signs up saying no card payments below £5.

Agree with the rest of your post, but I think you'll find there's a lot of people who'd put £2 on a credit card.

I'd put 50p on a credit card if that's what the bill was (and have done, for a newspaper), I don't carry cash.

Retailers generally get charged a percentage for CCs and a fixed fee for debit cards. Huge retailers, such as Tesco, don't care about a drop in the ocean charge but, as you rightly pointed out, smaller ones may, hence minimum spends.

antonio1

And it's goodbye from [them].... Was good whilst it lasted.....

chocomonsta

so its not just me that has got the letter saying withdrawal of aqua reward card is 22 January 2014

well truly was good while it lasted.

Grade_A_Reject

I got my letter today. Made the full £100 last year and am pretty much on target to get another £100 in before the closure date.

Good while it lasted.

Just had a thought....

The letter says the account will be closed on 22 January 2014 and you will not be allowed to make any further purchases using the card after that date and that the reward will be paid 2 weeks after closure. Assuming the card has a zero balance at that time how will I get the reward payment? Cheque?

DragonQ

I never seem to get letters. I've earned £10 cashback so far in my second year, might be able to get £30 or so by the closing date.

sammyz1

Grade_A_Reject wrote: »

I got my letter today. Made the full £100 last year and am pretty much on target to get another £100 in before the closure date.

Good while it lasted.

Just had a thought....

The letter says the account will be closed on 22 January 2014 and you will not be allowed to make any further purchases using the card after that date and that the reward will be paid 2 weeks after closure. Assuming the card has a zero balance at that time how will I get the reward payment? Cheque?

Last year they sent the cashback to my bank account... Didn't they?

Oh no. I had £200 and something to pay, I paid that into my back account but they only took £100 and something.

I have no idea. :shocked:

Edit Anybody know any other good cashback credit cards, that people with a low income can use?

derrick

Grade_A_Reject wrote: »

I got my letter today. Made the full £100 last year and am pretty much on target to get another £100 in before the closure date.

Good while it lasted.

Just had a thought....

The letter says the account will be closed on 22 January 2014 and you will not be allowed to make any further purchases using the card after that date and that the reward will be paid 2 weeks after closure. Assuming the card has a zero balance at that time how will I get the reward payment? Cheque?

In the leaflet, "Your questions answered", that came with the letter, Q 7 answers your question: - "Any cashback earned will be paid into your account approximately 2 weeks after closure. If this payment moves your account into credit, the difference will be paid to you by cheque.

Q 8 answers the similar question if you want new 0.5% card, i.e. it will be transferred to the new card and everything else will remain the same including the anniversary date.

HTH

.

DragonQ

Bit annoying as I hate cheques. Hopefully I'll have an outstanding balance so it'll just be credited to the card before the final DD is taken.