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

Jammi

I've set up a direct debit to pay the full balance on my account. My statement shows that payment will be taken on 22nd October.

However I have made a manual payment to clear most the balance. Will the direct debit still be taken(and possibly push the account into credit). what happens to the direct debit in this situation?

Gromitt

What it says on the statement is the amount that will be claimed by DD, regardless of any other payments. If you don't want it taken, you have to ring them up and cancel the DD at least 3 - 4 days before the due date.

Plxply

Gromitt wrote: »

What it says on the statement is the amount that will be claimed by DD, regardless of any other payments. If you don't want it taken, you have to ring them up and cancel the DD at least 3 - 4 days before the due date.

Yes this is exactly correct, I have a DD for the minimum payment and even though I pay my card in full they still take £5 each month by direct debit. It's not a problem since I normally have a balance anyway by that time and it just helps a bit, but it did worry me at first that I forgot to pay as Capital One don't take the DD if you've paid it off in full.

Blue_Max

DD for the minimum payment is risky, if you do not wish to borrow.
All too easy to forget to pay off before the 'payment due date'.
Aqua charge a whopping 35% interest.

Plxply

Blue_Max wrote: »

DD for the minimum payment is risky, if you do not wish to borrow.
All too easy to forget to pay off before the 'payment due date'.
Aqua charge a whopping 35% interest.

I personally think I'm quite disciplined with playing and it has been working for the last year, I even have the day the statement is generated on my calendar each month. I mainly have the minimum payment in case I do forget (hence the panic when I saw the DD come out) or I were unable to pay through hospitalisation. I'd much rather pay the minimum and absorb the interest then get hit with all that plus default fees and a ding on my file.

I actually have the card at 40% with only a £250 limit, I only have a Capital One Secured Card at 35% with a £30 deposit that I got when I turned 18 which is the only thing that's lower in anyway although I've never carried a balance. Although I did start university recently and I've been brushing close to my credit limits on both cards which certainly hasn't made me happy but I made a FP mid month hoping it wouldn't look like I'm in financial distress.

Gromitt

Blue_Max wrote: »

DD for the minimum payment is risky, if you do not wish to borrow.All too easy to forget to pay off before the 'payment due date'.

Until now I've not had any DD setup, but I thought it worth it "Just in case" as there is much to lose (£12 fee + cash back).

Paying off the balance is full via DD is more tricky, as you can't easily manage the account then - if you want to buy something, you have to think that the DD will be taken anyway and allow for it. Far easier to just pay off with a FP each week and spend as normal. Worse case is your £5 in credit.

Blue_Max

I pay my Council Tax every month by Direct Debit set up with a bank current account. Council also accept Credit Cards.
Has anyone tried setting up such regular monthly payments using Aqua?

tomt

Blue_Max wrote: »

I pay my Council Tax every month by Direct Debit set up with a bank current account. Council also accept Credit Cards.
Has anyone tried setting up such regular monthly payments using Aqua?

I'd double-check what the council charges on top for credit card payments - normally debit cards are free but it'll be around 1.5-3.5% surcharge for a CC (with all the austerity measures in place it seems to be more commonplace now).

ses6jwg

I wwent over my limit by accident 3 months ago and stopped using but my latest statement says I've accured £7.83 in cashback shall I risk continuing with it?

blitzboy

ses6jwg wrote: »

I wwent over my limit by accident 3 months ago and stopped using but my latest statement says I've accured £7.83 in cashback shall I risk continuing with it?

If it is still saying it's there, then I would continue to use it.