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

Hooloovoo

Scrounger wrote: »

That would only earn you £95 in cashback :eek:
Scrounger

I don't think it would.

£3333.33 * 0.03 = £99.9999 cashback.

Now technically that could be rounded down to £95 cashback, but I very much doubt that it would be.

I doubt they computer systems even store the cashback to that precision. That would have been rounded up and taken care of many transactions ago.

samtoby

Even though I was send an application in the post as being selected as a customer or something along those lines I was declined.

Hooloovoo

Card activated, and registered on internet banking. No problems so far. Let's hope it actually works when I come to use it!

lisyloo

Now technically that could be rounded down to £95 cashback, but I very much doubt that it would be.

Why do you very much doubt it?
It states very clearly in the Ts and Cs that it will be rounded DOWN to the nearest £5.
I'd be interested to know your thoughts.

Hooloovoo

lisyloo wrote: »

Why do you very much doubt it?
It states very clearly in the Ts and Cs that it will be rounded DOWN to the nearest £5.
I'd be interested to know your thoughts.

Because 3% of £3333.33 is not £99 and 99 pence, which I agree would be rounded down to a cashback of £95.

It's £99 and 99.99 pence. The rounding of 99.99 pence to 100 pence will happen when the final transaction is entered, therefore before the total cashback payout is calculated.

I suppose Aqua could store the cashback amount to four decimal places before rounding down to the final payout, but it's highly unlikely.

Hooloovoo

Hooloovoo wrote: »

I suppose Aqua could store the cashback amount to four decimal places before rounding down to the final payout, but it's highly unlikely.

Expanding on this, I would suggest that the minimum spend to obtain £100 cashback is £3333.17.

3333.17 * 0.03 = £99.9951

boobbby

I have been accepted (3 days) and I am like other careful users of credits cards and am usually in credit at the end of each period so no charges. Only using it for the 3% cashback so not really bothered about the credit I will be offered.

boobbby

Hooloovoo wrote: »

Expanding on this, I would suggest that the minimum spend to obtain £100 cashback is £3333.17.

3333.17 * 0.03 = £99.9951

I think it might be £3334 as they pay cashback to the nearest £5 and to get the £100 you would need to pay slightly over the max amount.

aleph_0

So, I think we're agreed that at a £3,333.34 spend you're definitely safe, but you might even get the full cashback at £3,333.33 or £3,333.17, depending on their rounding methods.

Personally, I might go wild and just aim for a spend of £3,334, a whole 66p over the minimum amount!

Hooloovoo

aleph_0 wrote: »

a whole 66p over the minimum amount!

Careful now [:rotfl:]