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

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Comments

  • Thanks Gromitt that sounds plausible, will post when I get a reply from Asda.
  • marilyna
    marilyna Posts: 150 Forumite
    Is the APR you are given dependant on your credit history?

    The website says the APR is 34.9%, but my letter says it is 44.9%.
  • noelphobic
    noelphobic Posts: 2,297 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    marilyna wrote: »
    Is the APR you are given dependant on your credit history?

    The website says the APR is 34.9%, but my letter says it is 44.9%.

    I'm not sure but I'm hoping the APR is irrelevant as I'm planning to pay the full balance off every month.
    3 stone down, 3 more to go
  • Blue_Max
    Blue_Max Posts: 725 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    edited 14 October 2012 at 6:05PM
    marilyna wrote: »
    Is the APR you are given dependant on your credit history?

    The website says the APR is 34.9%, but my letter says it is 44.9%.
    Yes. Looks as the if APR can vary from one person to other.

    Quote from
    http://www.aquacard.co.uk/credit-cards/reward-card

    "As we treat all our customers and their applications on an individual basis, the APR and interest rates we offer are determined by the details customers supply, along with an independent verification of credit and repayment history.
    Your personal APR for purchases will be either 34.9% APR (variable), 39.9% APR (variable), 44.9% APR (variable) or 49.9% APR (variable).
    Your interest rate for balance transfers will be the same as for purchases. 51% of customers are offered our best rate of representative 34.9% APR (variable)."

    Rememeber that Aqua Card is far from the best if you wish to borrow. There are many other cards with better terms for borrowing. To pick the right card, have read through
    http://www.moneysavingexpert.com/cards/best-0-credit-cards
  • anon_ymous
    anon_ymous Posts: 1,997 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Blue_Max wrote: »
    Rememeber that Aqua Card is far from the best if you wish to borrow. There are many other cards with better terms for borrowing. To pick the right card, have read through
    http://www.moneysavingexpert.com/cards/best-0-credit-cards

    Perhaps, but I'd say definitely one of the best for cashback. No one else gives 3% afaik? And after you get your cashback, you use a card that gives you the most amount of casback predominantly, and only use this occasionally instead

    Atm, this is now my main cc. I use my other cards once/month, just to keep them active
  • blitzboy
    blitzboy Posts: 477 Forumite
    Wywth wrote: »
    Another interesting point is that although I've made a partial payment (well in excess of the minimium payment) before the creation of the bill (it appears as a credit on the bill), they still want at least the minimum payment again.


    You mean they do exactly the same as every other credit card provider does? The swines!
  • Blue_Max
    Blue_Max Posts: 725 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    edited 16 October 2012 at 8:46PM
    Blue_Max wrote: »
    Rememeber that Aqua Card is far from the best if you wish to borrow. There are many other cards with better terms for borrowing. To pick the right card, have read through
    http://www.moneysavingexpert.com/cards/best-0-credit-cards
    waqasahmed wrote: »
    Perhaps, but I'd say definitely one of the best for cashback. No one else gives 3% afaik? And after you get your cashback, you use a card that gives you the most amount of casback predominantly, and only use this occasionally instead

    Atm, this is now my main cc. I use my other cards once/month, just to keep them active
    Cashback or no cashback, with sky high APR, Aquacard is one of the worst to borrow. So, I make sure to payback everything by the 'payment due date'.
    For borrowing there are many other options that are cheaper by far. See MSE main site.

    BTW. I just got accepted for a BMI Credit Card. Spend £250 minimum within 90 days and you get a welcome bonus of 20,000 destinations miles. Its worth hundreds of Pounds!
    For example, the fare of a longhaul flight that I am interested in, will get reduced by £500 :)
    That makes the BMI Credit Card a 200% Cashback card in practice. :j
  • anon_ymous
    anon_ymous Posts: 1,997 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Blue_Max wrote: »
    Cashback or no cashback, with sky high APR, Aquacard is one of the worst to borrow. So, I make sure to payback everything by the 'payment due date'.
    For borrowing there are many other options that are cheaper by far. See MSE main site.

    BTW. I just got accepted for a BMI Credit Card. Spend £250 minimum within 90 days and you get a welcome bonus of 20,000 destinations miles. Its worth hundreds of Pounds!
    For example, the fare of a longhaul flight that I am interested in, will get reduced by £500 :)
    That makes the BMI Credit Card a 200% Cashback card in practice. :j


    Surely if you pay it off by direct debit, it's one of the better cards out there? I don't use my credit cards to borrow money on. If I wanted to borrow money via a credit card, I'd be more likely to use my Lloyds Platinum card which has a 17.9% APR

    The only thing with the BMI card, is
    a) I don't fly that often and
    b) I'm assuming those points would be only useful with BMI?

    If I flew a lot more often, then yes I'd be more tempted to have a BMI card
  • Blue_Max
    Blue_Max Posts: 725 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    waqasahmed wrote: »
    Surely if you pay it off by direct debit, it's one of the better cards out there? I don't use my credit cards to borrow money on. If I wanted to borrow money via a credit card, I'd be more likely to use my Lloyds Platinum card which has a 17.9% APR

    The only thing with the BMI card, is
    a) I don't fly that often and
    b) I'm assuming those points would be only useful with BMI?

    If I flew a lot more often, then yes I'd be more tempted to have a BMI card
    Paying off everything with a DD is done by people who do not want to pay any interest. It applies all credit cards. It does not make Aqua Card one of the better cards out there.
    Only real attractions of the Aqua Card are the 3% cashback and eligibility criteria for people with not so good credit rating. Nothing more.

    As for cards for borrowing, Lloyds Platinum card with its 17.9% APR is poor value, IMO. There are many cards with 0% rates. Details in the link that I gave in my reply to the post by 'marilyna'.

    My comments on BMI credit card and the £500 saving that I would be making was not an advice for you or anyone to go and get one.
    View it as an example of one of the many credit card deals out there that can save more money, in addition to the £100 max with Aqua card.
  • anon_ymous
    anon_ymous Posts: 1,997 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Blue_Max wrote: »
    As for cards for borrowing, Lloyds Platinum card with its 17.9% APR is poor value, IMO. There are many cards with 0% rates. Details in the link that I gave in my reply to the post by 'marilyna'.
    Im not saying it's the best but it's what I'd rather use over my Aqua card if I was actually borrowing money - I haven't got any 0% cards
    Blue_Max wrote: »
    My comments on BMI credit card and the £500 saving that I would be making was not an advice for you or anyone to go and get one.
    View it as an example of one of the many credit card deals out there that can save more money, in addition to the £100 max with Aqua card.

    Fair enough when you talk about freebies etc..but when you talk about cashback alone, the top cards (Amex and Capital one) don't give you a consistent 3% back

    http://www.moneysavingexpert.com/cards/cashback-credit-cards#intro

    Yes they give 5% as an introduction, but their rates are up to 1.25% For me, I did a bit of research and Amex would not be worth it for me, so talking about cashback only, the "top buy" credit card only gives 1.25% whereas the Aqua card gives 3% consistently (up to a max of £100)

    To get £100 cashback at 1.25%, I'd need to spend £8000 but obviously at that amount, I'd only get 1% on the Capital one card

    On the Aqua card, you get that by spending less than 3.5K.

    I'd say what sells the Aqua card to me is mainly the 3% cashback, however I do like the feature of it being a top travel card, and also a very good card at getting me perfect exchange rates on eBay
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