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

williham

Gromitt wrote: »

Strange, as Experian quite clearly state on there website:

Think MBNA were using callcredit

Southernman

I can't believe i got declined for this. As well as having a credit card i pay off in full each month, I have a mortgage which i have always paid on time and even overpay.

I'm on the electoral role, never use my overdraft and manage my finances well. I even have savings! I would have thought a subprime lender would see me as 0 risk!

Plxply

Southernman wrote: »

I'm on the electoral role, never use my overdraft and manage my finances well. I even have savings! I would have thought a subprime lender would see me as 0 risk!

Lenders don't care about risk, they look for profit. If you're paying everything off monthly they won't make any money, in fact they'll lose it as I don't think they make 3% in merchant fees and they're relying on the high interest rate to make money from the card rather than an annual fee others have for example. Of course risk comes into it as you can't make money from someone who doesn't pay but they probably see you'll pay it off each month and not generate any interest.

The-Gaffer

they approved me for a second the rate reducing one my current one was the classic with a 1550 limit, INTERESTINGLY, they were gonna raise my limit to 1900 but after approving me for a SECOND didnt raise my limit

Nath4n

I've read the thread but couldn't see any mention of this - apologies if I've missed it.

Aqua claim there are no foreign currency exchange fees - does anyone have any more information on this? Is it similar to Halifax clarity etc whereby PURCHASES are converted into £'s at the standard Mastercard rate with no additional conversion/commission fees etc? Essentially acting exactly as purchases here in the UK with the amount converted to £ at the best possible rate (Visa and Mastercard set daily rates are usually the best possible).

Cash withdrawals appear to attract a 3% fee (cash advance) so are obviously out of the question (as there are alternatives with no fee), but with no exchange fees this could be another good card to have in the wallet whilst abroad - especially if foreign purchases also attract 3% cashback? :cool:

sammyz1

I applied a few days ago and was expecting an email declining me. But instead got a thick envelope excepting me.

:j

The APR is something like 49.5% which is crap. But I plan on paying off in full every month.

One thing they haven't told me is what my credit limit is. I hope it isn't something ridiculous.

One thing I was expecting was to send off my copy of passport or something, but all they asked for was my signature. Does the identity part come after?

The-Gaffer

sammyz1 wrote: »

I applied a few days ago and was expecting an email declining me. But instead got a thick envelope excepting me.

:j

The APR is something like 49.5% which is crap. But I plan on paying off in full every month.

One thing they haven't told me is what my credit limit is. I hope it isn't something ridiculous.

One thing I was expecting was to send off my copy of passport or something, but all they asked for was my signature. Does the identity part come after?

theyve already verified your identity electronically sign the line an bobs your uncle an fannys your aunt,

jo-bo

On the agreement to sign on the side with your personal info, there is a space at the bottom of the page that says 'office use only'. There is usually a figure that indicates credit limit.

aleph_0

The limit is shown on the 'your personal details' form that you're asked to return and sign under the 'For Bank Use Only' line (think it's bottom left, but I've only a photocopy of the form I sent back, and it's got cut off).

bubieyehyeh

aleph_0 wrote: »

The limit is shown on the 'your personal details' form that you're asked to return and sign under the 'For Bank Use Only' line (think it's bottom left, but I've only a photocopy of the form I sent back, and it's got cut off).

yes. The number bottom left is same as my indicated credit limit on the copy of my returned form.