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

neilsedaka

kaloss wrote: »

So you couldn't actually spend the additional money on the card?

I could have spend the money on the card, that was the option that Aqua preferred, but I did not wish to because I had already almost earned the £100 cashback for that year. Once I reach the £100 cashback I use a different cashback card.

kaloss

Jennifer_Jane wrote: »

and also faster payments don't work (for doing the £500, if you haven't spent anything else on the card) to quickly get your balance back to zero.

I haven't understood this part. What do you mean for "faster payments don't work"?
Let's say I have 500£ credit limit and 200£ balance. Can I transfer in (with bank transfer / faster payment) 250£ and then be able to make a purchase for 550£?

derrick

kaloss wrote: »

I haven't understood this part. What do you mean for "faster payments don't work"?
Let's say I have 500£ credit limit and 200£ balance. Can I transfer in (with bank transfer / faster payment) 250£ and then be able to make a purchase for 550£?

You cannot make single purchases above your credit limit, no matter how much you are "in credit" e.g. your limit is £500.00 with no spend, you receive the £100.00 cashback into your account, you now have a credit of £600.00, but you can only make a, (single item/purchase), purchase to the value of £500.00.

.

Shiggaddi

I got my letter a few weeks ago, and decided to search on here if there was a thread about the situation.

I'm also thinking of buying supermarket gift cards. I spent most of my money for the Amex £100 cashback on them about 6 months ago, and most of them are now redeemed. Remember, if buying Tesco, or Morrison's vouchers, you can also use them for petrol. For Sainsbury's and Asda, you can only use instore.

I have found the card handy for using abroad, and was considering whether to go for the new card, but I'll be going for the Halifax clarity card instead. As well as the foreign purchases, I'd get a fixed cashback of £5, if I spend £300. To get the same on Aqua, I'd have to spend £1000 to get £5.

I already have the Capital One card, and a Barclaycard (formerly Egg) both paying 1% cashback, albeit with a foreign transaction fee.

When comparing the cost of buying the gift cards vs initial outlay, I'm also taking into account that buying on a 3% card means I'm doing transactions that would have earned 1% anyway, so the actual gain is only 2% minus the interest that I would have earned.

mrmajika

Shiggaddi wrote: »

I'll be going for the Halifax clarity card instead. As well as the foreign purchases, I'd get a fixed cashback of £5, if I spend £300.

I too am looking for an alternative 'abroad' card. Can anyone confirm that the cashback on Halifax Clarity is still available for new customers. I can't see it referenced on the website, so I assume that element has been pulled?

BookWorm

mrmajika wrote: »

I too am looking for an alternative 'abroad' card. Can anyone confirm that the cashback on Halifax Clarity is still available for new customers. I can't see it referenced on the website, so I assume that element has been pulled?

Taken from the Halifax website - HERE

DRAFT GENERAL CREDIT CARD CONDITIONS


11 REWARD PAYMENT 11.1 If you meet the requirements set out in condition 11.2, then for any statement period in which you:- (a) make at least £300 of Purchases (once any Purchases refunded in that period have beend deducted);
(b) stay within your credit limit; and
(c) make your minimum monthly payment;
you will qualify for a £5 credit to your account in the following month. The credit will not be treated as a payment to your account under these conditions.
11.2 To be eligible for the reward set out in condition 11.1, you must, at the time you enter into this agreement:- (a) hold a Halifax current account and pay in £1,000 or more each month;
(b) use our switching service to move your current account to a Halifax Current Account and agree to pay in £1,000 or more each month;
(c) open or hold a Halifax Ultimate Reward Current Account.

mrmajika

BookWorm wrote: »

11.1 If you meet the requirements set out in condition 11.2, then for any statement period in which you:- (a) make at least £300 of Purchases (once any Purchases refunded in that period have beend deducted);
(b) stay within your credit limit; and
(c) make your minimum monthly payment;
you will qualify for a £5 credit to your account in the following month. The credit will not be treated as a payment to your account under these conditions.
11.2 To be eligible for the reward set out in condition 11.1, you must, at the time you enter into this agreement:- (a) hold a Halifax current account and pay in £1,000 or more each month;
(b) use our switching service to move your current account to a Halifax Current Account and agree to pay in £1,000 or more each month;
(c) open or hold a Halifax Ultimate Reward Current Account.

Thanks.

That rules me out on a number of levels then!! Think I'll stick with Nationwide Select.

gt94sss2

I going to apply to keep my account on the new T&C. The Aqua card still works out best for me in certain circumstances.

Does anyone know if they will actually issue new cards though or we can just continue using our existing ones though- as the information says the account number etc. will remain unchanged.

Regards
Sunil

Jennifer_Jane

kaloss wrote: »

I haven't understood this part. What do you mean for "faster payments don't work"?
Let's say I have 500£ credit limit and 200£ balance. Can I transfer in (with bank transfer / faster payment) 250£ and then be able to make a purchase for 550£?

Apologies, just seen this.

You may have faster payments on your bank account, but it still takes 2 or 3 days for payments to for Aqua to process it. It does say this on Aqua's website. So:

This month I have spent about £1200 on my card which has a £500 credit limit.

Every couple of days I have requested Aqua to pay off my balance from my bank account. That has taken 2 or 3 days. Just be careful that it doesn't conflict with your direct debit payment.

Aqua told me that I could not go into credit with them: they would simply reject the money.

Hope this is clearer and apologies that I wasn't clear before.

bubieyehyeh

I find the available credit on the aqua website seems to increase within a couple hours of making a faster payment to aqua. I've then been able to make new purchase before previous ones are even posted on the aqua website.