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

adindas

Nath4n wrote: »

Hi all, can I please check something before I do something silly and lose all my cashback:

My credit limit on the card is £500. I have already spend £300 this month but want to purchase something that costs £400. Can I make a faster payment to pay off the outstanding balance and then purchase the £400 item. This would obviously mean I would have spent at least £700 in a statement month despite my £500 limit, will this affect cashback in any way?
.

I will also want to know this. I know this is not the case with Halifax Clarity Card £5 reward if you spend at tleast 300 in a month.

Once I lost my £5 rewards becasue I was not aware that one of the vendor refunded the money back to my credit cards which was already over £300. And because of this refund it made the total balance bounds back to under a few pounds less than £300 and therefore I did not get any rewards.

Could people who has tried this to please let us know that you could optimise the cash back fromAqua credit card by keep putting the limit below the credit lmit (say £500) with accasional transfer a few times within a month to keep the spending just below the credit limit.

Thanks

blitzboy

Last month i spent about £700 with my £250 limit by paying it off by 'faster payments' as soon as it showed on the account. The 'available balance' alters within minutes usually so although the 'account balance' remains the same until the day after, you are able to spend the 'available balance' almost immediately.

Nath4n

blitzboy wrote: »

Last month i spent about £700 with my £250 limit by paying it off by 'faster payments' as soon as it showed on the account. The 'available balance' alters within minutes usually so although the 'account balance' remains the same until the day after, you are able to spend the 'available balance' almost immediately.

Thanks for this. So can anyone confirm doing this won't affect cashback?

DragonQ

How does one make a Faster Payment to the Aqua credit card? Does the "debit card payment" thing on the Aqua website work or do you have to do it from your bank's website?

lisyloo

Does the "debit card payment" thing on the Aqua website work

Yes it works but it's a debit card payment and will take a few days.

If you send the money from your banks website then this should use "faster payments" which should happen very quickly (although balances take a day to be updated on the website).

The two are different systems.

Try number 5 on here.
http://www.aquacard.co.uk/customers/make-payment

blitzboy

Nath4n wrote: »

Thanks for this. So can anyone confirm doing this won't affect cashback?

Sorry I forgot to add that bit in my first post :doh:

Yes it will not affect the cashback, as long as you dont exceed your 'available balance'. I have built up around £20 cashback in just over a month with the £250 limit and my most recent statement confirms that £18.?? cashback has been built up so far:)

Gromitt

I paid £350 to my Aqua card this morning and a few hours later, my "Available credit" was back to £500, so I spent £250 on car insurance then paid that of as well. It now says £500 again ready for tomorrows transactions

IsaCream_Man

My first Direct Debit should leave my bank tomorrow the 20th September, and be credited the same day, so I am told by Customer Services. The 20th is the date on my posted Statement described both as "Payment due date" and "Direct debit payment date". I had doubted this which is why I called CS.

If it doesn't I'll risk forfeiting my cashback, and I'll have to use a Faster Payment instead. But it does look as though FPs may generally be a better way of managing the account's credit limit than using Direct Debit, judging by the posts above. I have use the FP method once - last month.

Maybe a combination of both methods then?

lisyloo

The DD is the responsibility of Aqua.
It sounds to me like it is actually clearing your bank account on 20th and was requested in advance.

FP's are better if you want to pay several times a month.

Maybe a combination of both methods then?

Be careful.
You need to work out whether FPs will be deducted from your DD amount.
Some do, some dont, other companies only do if the FP hots the account before the DD instruction goes out.

If you are disciplined I would say use FPs only, then you have full control.

callum9999

adindas wrote: »

I will also want to know this. I know this is not the case with Halifax Clarity Card £5 reward if you spend at tleast 300 in a month.

Once I lost my £5 rewards becasue I was not aware that one of the vendor refunded the money back to my credit cards which was already over £300. And because of this refund it made the total balance bounds back to under a few pounds less than £300 and therefore I did not get any rewards.

Could people who has tried this to please let us know that you could optimise the cash back fromAqua credit card by keep putting the limit below the credit lmit (say £500) with accasional transfer a few times within a month to keep the spending just below the credit limit.

Thanks

That's because refunds are utterly different to payments. If you get a refund that takes your balance below £300, then you haven't spent £300. If you make a payment then you've still spent whatever you had before, you've just paid it off quicker.