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

ice_babe

Received statement today and also had a separate letter from Aqua informing me cashback card is being withdrawn

I'm up to £88 cashback on my Aquacard, so should easily earn my £100 by January

lisyloo

If I were into year 2 I would be tempted to spend a lot on returnable stuff

An alternative are supermarket gift cards that you KNOW you will spend and are unlikely to go bust - like tesco, Morrisons etc.

DragonQ

Hmm that's an interesting suggestion. I think buying £2500 worth of Tesco vouchers would be a bit dodgy though. What if I moved to a different town with a different supermarket?

lisyloo

You are right there are some risks especially if you scale it up.
Personally I think the risks/hassle associated with £2500 of returnable goods is greater.

For most people I imagined it being used for a few hundred top up which would used in the next month or so. This would be very low risk for a supermarket.
For most people with houses, families and jobs the chances of moving in the very short term are low, but clearly you need to weigh up the risks for your own situation. For example - if you know you're moving to the outer herbrides shortly then it's probably not such a good idea for you.

If you're in a normal household e.g. jobs, house, schools and not looking to do a runner, then I'd say it's a sensible suggestion for a top-up if you don't take the idea to extremes.
However it's just a suggestion, I'm not holding a gun to anyone's head :-)

The_Boss

Hi guys,

Sorry if already asked - since Aqua are endng this and closing the cards and requiring us to repay, will our credit reports be marked with anything other than 'settled' when this happens?

lisyloo

No, there won't be anything detrimental on your credit report or anything that shows they closed the card rather than you (assuming you settle it in full).

The only detrimental effect is that some companies look for stability.
That's hard to define but the length of credit accounts might be taken into account.
This all has to be take in context so if you have a number of long running credit cards and one that's shorter then it won't have any bad effect.
If you had loads of accounts for a short period of time then that could have a detrimental effect, but you need to take that in the context that this is only one card and companies look at the overall picture.

Atidi

Just to update, my monthly bill arrived this morning. Definitely no letter enclosed.




.... but it did arrive in a separate envelope instead :rotfl:

The_Boss

lisyloo wrote: »

No, there won't be anything detrimental on your credit report or anything that shows they closed the card rather than you (assuming you settle it in full).

The only detrimental effect is that some companies look for stability.
That's hard to define but the length of credit accounts might be taken into account.
This all has to be take in context so if you have a number of long running credit cards and one that's shorter then it won't have any bad effect.
If you had loads of accounts for a short period of time then that could have a detrimental effect, but you need to take that in the context that this is only one card and companies look at the overall picture.

Yep, completely familiar with the whole credit profile malarky and how lenders score your applications/data taken into account, but just wondered if it would say anything other than 'settled'. Thanks for answering my question.

ice_babe

I'm trying to maximize my cashback, so late last night I decided to make a £20 card payment to my ee mobile phone account and £15 to my husbands tesco mobile account. The tesco one was rejected, didn't thing anything of it and first thing this morning had a phone call from aqua as they thought someone else was using my card! opsie

Amara

If I can't pay off my Aqua card within two months, what'll happen?