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

lisyloo

This card just seems far more likely to attract those intending to make money rather than lose money!

Intentions are one thing. What happens in reality is another.
I think it would be a little naive to expect the 3% rate to be maintained long term, but I'm certainly happy to take advantage of the offer short term.

stphnstevey

Just got my Aqua card and asked about the cashback-the women said that it was £100 max PER CUSTOMER (not reoccuring annually) and also ONLY UPTO 31st JULY 2012!!

I made a formal complaint that this was not in the T&C's and they are getting back to me

:money:MARTIN-ITES - can you speak to them as this was heavily promoted on MSE, I applied as soon as I saw it, but hardly seems worth the bother nowif you only get about 15 days to use it!

Nessie23

stphnstevey wrote: »

Just got my Aqua card and asked about the cashback-the women said that it was £100 max PER CUSTOMER (not reoccuring annually) and also ONLY UPTO 31st JULY 2012!!

I made a formal complaint that this was not in the T&C's and they are getting back to me

:money:MARTIN-ITES - can you speak to them as this was heavily promoted on MSE, I applied as soon as I saw it, but hardly seems worth the bother nowif you only get about 15 days to use it!

I just received mine and the 3% cashback is written within the terms and conditions of the account, so I would expect they would have to write to all of us if they were going to change to cashback conditions. Fingers crossed it should run past the 31st of July

However 3% is quite high and personally I am not too sure on how long they are prepared to run the card at the cashabck rate, so I am still keeping some backup options.

aleph_0

stphnstevey wrote: »

Just got my Aqua card and asked about the cashback-the women said that it was £100 max PER CUSTOMER (not reoccuring annually) and also ONLY UPTO 31st JULY 2012!!

Hmm, sounds curious. It's in the T&Cs, so they can't just stop it for existing customers without any notice. What is possible, although surprising, would be for them to withdraw the card to new customers on 31st July. I say surprising because it will only be a month after the launch, the customers it attracted shouldn't have surprised them, and it shouldn't really be getting leaked around a call centre before they issue a press release.

I guess we'll have to see.

lisyloo

I don't believe this.
I think the poster has been mis-informed.

callum9999

stphnstevey wrote: »

Just got my Aqua card and asked about the cashback-the women said that it was £100 max PER CUSTOMER (not reoccuring annually) and also ONLY UPTO 31st JULY 2012!!

I made a formal complaint that this was not in the T&C's and they are getting back to me

:money:MARTIN-ITES - can you speak to them as this was heavily promoted on MSE, I applied as soon as I saw it, but hardly seems worth the bother nowif you only get about 15 days to use it!

Obviously a mistake. Possibly meant it's valid until the 31st July 2013, or that you can only sign up to the card until 31st July 2012.

Gromitt

callum9999 wrote: »

Obviously a mistake. Possibly meant it's valid until the 31st July 2013, or that you can only sign up to the card until 31st July 2012.

I'd agree with this. Makes far more sense.

Card is withdrawn end of this month (hence why its not a new design), and cashback maybe withdrawn after a year.

Basically they are offering £100 incentive to use their card for a year, then they'll review the situation and see if its worth doing again.

RainDancer

I have a basic account with HSBC which I've kept in good order for the last year. I'm currently paying off about £10k in debts, again which I've not defaulted on. Asked HSBC for a debit card for the account (not having one is really inconvenient at times) but bad credit score so it was a no.

Would the Aqua CC or the Vanquis CC help me? My intention is to use it as a debit card ie pay money onto the card before using the credit card so that I will always have a positive balance and not owe them and therefore not have the horrendous APR.

Is that a good idea? Does anyone else do this?

Also by doing this would it actually help increase my credit score?

Thanks x

aleph_0

RainDancer wrote: »

I have a basic account with HSBC which I've kept in good order for the last year. I'm currently paying off about £10k in debts, again which I've not defaulted on. Asked HSBC for a debit card for the account (not having one is really inconvenient at times) but bad credit score so it was a no.

Would the Aqua CC or the Vanquis CC help me? My intention is to use it as a debit card ie pay money onto the card before using the credit card so that I will always have a positive balance and not owe them and therefore not have the horrendous APR.

Is that a good idea? Does anyone else do this?

Also by doing this would it actually help increase my credit score?

Thanks x

You can't have a positive balance on a credit card (against T&Cs). But if you spend on it, and pay each statement off in full on time, you don't pay any interest, so using a credit card like this would be fine.

There is no universal credit score. Building up good credit history and proof you can manage finances is obviously useful.

marks7389

aleph_0 wrote: »

You can't have a positive balance on a credit card (against T&Cs). But if you spend on it, and pay each statement off in full on time, you don't pay any interest, so using a credit card like this would be fine.

You can set up a full amount direct debit for the card to be paid off in full from your bank account each month, before you incur any interest. That's the easy way to do it - just use the online account management facility for the card to keep track of your spending and therefore how much will be taken in the DD.