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

walp

Sorry to dive in on this debate, but in my experience there are so many factors at play (amount of credit already held, the way in which an individual handles that credit, repayment history, too few recent applications, too many recent applications, address history, property ownership/tenancy history.... blah, blah, blah)... Couple this with different acceptance rejection strategies of differing credit providers & applications will always be non-guaranteed.
I am single, earn a middle income wage, have a current credit score (experian) of 999 (and have done for the last 3 years), have currently around £10k available credit in cards, have a mortgage but have no other credit/loans elsewhere. I always pay my credit cards in full following statement days.
Was I accepted for the Aqua Reward card today? Yes I was (albeit only with a £500 limit), and this company will never make a penny from me.
Looking at the history of this thread, some pretty high earners with lots of existing credit have managed to get the card despite their same habit of ensuring cards are paid in full every month...
I think we can all conclude that there is no unethical strategy here & it's just a matter of infinite variables.
Years ago, my credit history was damaged by applying for too many within a six month period & I was advised to do only 2 credit applications in a six month period (although Im sure this varies with different individual histories & credit organisations... yet another unaccountable variation).
I live by this & have never been rejected for anything since. I would therefore advise applicants to just consider this before applying (as it seems a very common reason for refusal).
With this in mind, everyone wishing to take advantage of the 3% reward (and able to pay the balance at statement "pay by" date) should apply for this card & get on with life undented regardless of the outcome.

Hastobe_Katt

trikidy wrote: »

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.

I take it you've had a few rejections?

As I said, I'm not bothered that I haven't got an Aqua card - I would only have used it to get the max £100 cash back and then switched to the Capital One for their cash back %. However, I do think Aqua are being less than honest on their website and it seems that I am not alone in these views - scroll back and you will see a few more.

On the subject of the validity of CRA ratings - the single biggest failing seems to be that they don't take into account savings and investments etc. Indeed, applications for savings accounts can in some instances result in a hard pull on your credit history and reduce your credit score. If you have no debt - own your own home, always save for everything and have respectable savings accounts etc with no outstanding loans or credit cards you are likely be refused credit. The current system encourages people to be perpetually in debt.

walp

Hastobe_Katt wrote: »

I take it you've had a few rejections?

Interesting....

Isn't this comment just a little too personal, prejudicial & inflammatory? It appears that you are better placed financially than many to avoid such rejections.
Does the privilege of wealth make you a better person?

Hastobe_Katt

walp wrote: »

Hastobe_Katt wrote: »

I take it you've had a few rejections?

Interesting....

Isn't this comment just a little too personal, prejudicial & inflammatory? It appears that you are better placed financially than many to avoid such rejections.
Does the privilege of wealth make you a better person?

If Trikidy doesn't like receiving personal comments maybe it would be wise for him/her not to make them about others??

walp

Hastobe_Katt wrote: »

walp wrote: »

If you don't like receiving personal comments maybe it's wise not to make them about others??

Even more interesting, especially as I did not actually make any comments about you & was just pointing out the highly unethical nature of your comment which was directed at another forum member.

Although I do recognise that that member's opinions were heated, they were far from prejudicial.

Hastobe_Katt

I would call laughing at someone because they were declined a credit card pretty personal. In the circumstances, I think my reply was quite moderate.

As an aside I edited to correct my post before you replied - I thought the reply was from Trikidy hence referring to 'you' in my original post.

walp

I'll grant that that post was a little inflammatory, but on re-reading it I can still only discern his/her personal opinion (albeit explicitly conveyed) that you were overeacting to your rejection.
It was certainly not laughing at you because you were rejected, but was expressing amusement at your indignance. I freely admit it was (at best) gently teasing.
Your remark appears disproportionate in the extreme (but maybe it's only me who sees it that way).
That's simply my opinion within a public forum debate.

td_007

I had mentioned previously that I was approved for the Aqua 3% card - I have now received it and also made my first spend:beer:.

Interesting debate on the approval criteria - all I can say is that I have a perfect credit histort - no missed payments/late payments etc. I also have numerous current accounts, many credit cards (nearly £40K total limit) and have never been rejected for any credit card or bank account. I space out the applications though!

So all said and done, at least in my case it does not appear that Aqua rejects people with "perfect" credit histories - maybe just gives them a lower limit - mine is £500.

Hooloovoo

walp wrote: »

It was certainly not laughing at you because you were rejected, but was expressing amusement at your indignance. I freely admit it was (at best) gently teasing.
Your remark appears disproportionate in the extreme (but maybe it's only me who sees it that way).

It seems the other way around to me.

Trikidy was openly laughing and getting personal.

trikidy wrote: »

Hahaha, Wow Hastobe_Katt never been rejected before? ... It's really sad that you are getting so angry.

Whereas Hastobe_Katt made a teasing good-natured reply with a wink-smiley at the end.

Hastobe_Katt wrote: »

I take it you've had a few rejections?

In my opinion Hastobe_Katt has put forward nothing but polite well-reasoned comments, despite the inflammatory posts of others.

walp

Fine,
Just me taking offence to that particular remark, then (my opinion still stands)....
Mini debate (happily) abandoned.

To get back on track, Ive just realised how good this card is for holiday (overseas) spending. My Nationwide Select card does not give any reward for spending in currencies other than sterling...
This one does (and also gives the "perfect" Mastercard/Visa exchange plus no fees), and so I suggest folk use it for holiday spending alone... The credit limit is a bit of a pain, although I did note elsewhere that the card balance can be credited within 2 hours via the faster payments scheme...
Really useful & suggest setting online banking up so that that credits can be confirmed via wifi web use whilst abroad.