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

anon_ymous

Roger1 wrote: »

Don't be misled.

The Halifax Clarity credit card only offers the £5 cashback when the card is linked to the relevant Halifax current account, a significant fact that the other poster hasn't mentioned.

I find the Halifax Clarity credit card great for all sorts of reasons but I don't get the £5 cashback simply because I don't bank with the Halifax.

Of course, people may wish to switch to a Halifax current account to get the £5 cashback on the credit card, but for me it would be a hoop too many.

Hmm thanks for that. Personally, give it a while and I might actually get a Halifax account/card, just to get the £5 for depositing £1000 and £5 for spending £300+ (After the cashback for Aqua hits the maximum allowed)

I don't think it is a "hoop too many" when I can automate the standing order process, where I send in £250 in each week(and send it back the day after), whilst having to get a bank account with Halifax in the first place.

All you need is a Halifax account, and it doesn't have to be a reward account, but you might as well if you're fine with transferring £250 out for a day, and getting it back the next day.

I do this for all my bank accounts ie: I transfer

£125/week to N&P

£200/week to Nationwide

£2.01/4 weeks to Barclays (to keep it active, and not dormant)

£0.02/4 weeks to N&P

£0.01/4 weeks to Nationwide

---

£125/week from N&P

£200/week from Nationwide

£1.00/fortnight from Barclays

£0.01/month from N&P

And it's all automated. I get the money back, the next day, or in the case of the "month" as opposed to "week, fortnight or four weeks", maybe a few days later

I like to have my accounts go up in increments of 1p/month ie: 1 month of usage is 1p, 2 months is 2p etc... (Just for my personal records)

So basically, I'd definitely open a Halifax account if it makes financial sense. It only takes like half an hour max of your time, and then the process is entirely automated

So yeah I'd definitely open up an account, no matter how small the incentive for doing so

Roger1 wrote: »

The Aqua credit card offering 3% cashback and 0% foreign loading can't be beaten for expenditure within account limits IME.

Sorry but what's IME? Also I wouldn't have thought that I'd have much need for a foreign card, apart from it being nice to have before you go abroad, but buying things on international sites also guarantees a perfect exchange rate as well

derrick

waqasahmed wrote: »

Sorry but what's IME?

In My Experience.

.

Lorraine71

I applied for an Aqua credit card last week, simply because I was interested in the 3% cashback. I always pay in full my credit card balance each month and I don't have any other debt (apart from my mortgage).

I received a letter from Aqua this morning, telling me that I had not been successful. I wasn't surprised, as I know I'm not the kind of customer they are trying to market to but I was staggered that the reason they gave me for turning me down was because my payment history 'didn't meet their criteria' and that I should contact Experian to find out why. Seeing as I have a 99% credit rating with Experian I was amused by this. I just hope that my credit rating isn't to affected by being turned down by this company.

Wywth

Wywth wrote: »

Wywth wrote:

Does anyone know when the statements/bills are issued?

I see in my online account, they will want the payment by the 1st of the month at the latest, but how long before this do they send me a statement/bill?

Anyone? :huh:

I've still not got my statement, so it'll be 15th at the earliest before I get it and they want payment by the first. They don't give you long to pay do they? Especially if some payments can take 3 or 4 working days to clear with them.

Paper bill finally arrived in this morning's post.
Bill was dated 12 October and they want payment to reach them by 29 October

Please allow 7 working days for the payment to reach us when paying by post - so I can't use that method.

Payments should be made at laest 5 working days before the due date shown if paying at a bank - so only just about capable of using that method.

Wywth

Lorraine71 wrote: »

I applied for an Aqua credit card last week, simply because I was interested in the 3% cashback. I always pay in full my credit card balance each month and I don't have any other debt (apart from my mortgage).

I received a letter from Aqua this morning, telling me that I had not been successful. I wasn't surprised, as I know I'm not the kind of customer they are trying to market to but I was staggered that the reason they gave me for turning me down was because my payment history 'didn't meet their criteria' and that I should contact Experian to find out why. Seeing as I have a 99% credit rating with Experian I was amused by this. I just hope that my credit rating isn't to affected by being turned down by this company.

It may we worthwile you checking again with Experian.

From what I see, Aqua reward cards are given to those who apply with good credit histories (where they get £500 credit limit) and to those with not so perfect credit histories (where they get a £250 limit)

There must be something that they were not happy with in your experian report that made them decide to decline your application.

Gromitt

Wywth wrote: »

Paper bill finally arrived in this morning's post.
Bill was dated 12 October and they want payment to reach them by 29 October

Please allow 7 working days for the payment to reach us when paying by post - so I can't use that method.

Payments should be made at laest 5 working days before the due date shown if paying at a bank - so only just about capable of using that method.

Like I said earlier however, even if the bill doesn't reach you, you must make payment before the due date, giving time for them to apply it to your account, otherwise you risk losing all cashback, a £12 charge, and a hit on your credit report.

Easiest way therefore is to setup the statement date in your calendar, and when near, login to online banking, check the amount due and pay it via faster payments. Or setup a direct debit. Or ring them and ask for the balance and pay over the phone. Don't depend on the statement reaching you.

lisyloo

Just open it up as a spare account and shift £1000 in and out every month

I don't keep a spare £1000 in my current account, so actually it's not quite as simple. I could move it out of savings but that's two hops.

You say it's a lot of hoops to go through for "only" £60

I already get 1% on my Capital one (if I haven't got a higher paying one like Aqua at 3%), so the extra benefit would be £24 as I already get at least £36 of that £60.

but it involves virtually no effort

You have to make sure you do these payments at the right time and in the right order to qualify and log into 2 accounts 12 times.
I can see your point but it's more effort and less benefit than you claim (for me anyway although I appreciate everyone's circs are different).

far less effort than you put into this forum!

Possibly, but then I save a great deal more than £24 by being on these forums. Massively more in fact, for example £8K a year on my mortgage.
So thanks for your input, I have no proBlem with balanced debate, but I do have a limits and £24 or less is not really that worth it for me given the effort/risks involved, although I fully accept your point of view :-)
I'd rather get £100 from Aqua or apply for a 5% card or do something that will save me a lot more money.
So for example at the moment I'm getting 3% from Aqua which is higher than Halifax.

Obviously it's entirely up to others what they do, we are just pointing out there is some work involved and not huge benefits.

callum9999

Lorraine71 wrote: »

I applied for an Aqua credit card last week, simply because I was interested in the 3% cashback. I always pay in full my credit card balance each month and I don't have any other debt (apart from my mortgage).

I received a letter from Aqua this morning, telling me that I had not been successful. I wasn't surprised, as I know I'm not the kind of customer they are trying to market to but I was staggered that the reason they gave me for turning me down was because my payment history 'didn't meet their criteria' and that I should contact Experian to find out why. Seeing as I have a 99% credit rating with Experian I was amused by this. I just hope that my credit rating isn't to affected by being turned down by this company.

It's a generic rejection. It doesn't automatically mean your credit rating isn't good enough, or that you are "too good" for them. It could be absolutely anything - even something like they've already met their quota for people in your risk group that week etc.

People with perfect histories have been given this card, they don't blanket reject people like you!

lisyloo

because my payment history 'didn't meet their criteria'

Just means exactly that. Doesn't mean it's bad in anyway, just that you aren't what they aren't loooking for right now.
I've had rejections too with a very good record, so have others.
Dont' take it personally it's not you it's just their criteria.

Seeing as I have a 99% credit rating with Experian

Which is absolutely nothing at all to do with Aqua or any lender.
In fact why do you pay for it?

I just hope that my credit rating isn't to affected by being turned down by this company.

one search will make little difference unless you have loads already and by that I mean dozens not a few.

callum9999

lisyloo wrote: »

I don't keep a spare £1000 in my current account, so actually it's not quite as simple. I could move it out of savings but that's two hops.

I already get 1% on my Capital one (if I haven't got a higher paying one like Aqua at 3%), so the extra benefit would be £24 as I already get at least £36 of that £60.

You have to make sure you do these payments at the right time and in the right order to qualify and log into 2 accounts 12 times.
I can see your point but it's more effort and less benefit than you claim (for me anyway although I appreciate everyone's circs are different).

Possibly, but then I save a great deal more than £24 by being on these forums. Massively more in fact, for example £8K a year on my mortgage.
So thanks for your input, I have no proBlem with balanced debate, but I do have a limits and £24 or less is not really that worth it for me given the effort/risks involved, although I fully accept your point of view :-)
I'd rather get £100 from Aqua or apply for a 5% card or do something that will save me a lot more money.
So for example at the moment I'm getting 3% from Aqua which is higher than Halifax.

Then shift £500 back and forth twice, or £250 back and forth 4 times. As I said before, I will personally guarantee you can do it in less time than you spend on this forum - for which you don't get paid a penny! And while these forums may have saved you £8k on your mortgage, this discussion right now isn't saving you a penny!

Right time and right order? I'm sure you can cope with working out which of the 2 accounts you're transferring to and from! Of course you're free to not bother as only you know what your time is worth, but as this is a money saving site, I just thought I'd point out that free money is worth applying for! (Not £24 - you get £60 from the current account so using your figures it would be £84)