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

Uplink

MiserlyMartin wrote: »

That's not true. I got an overlimit fee straight away, so stopped using it and now they have upped my limit to £500

Lottery +1

samtoby

Uplink wrote: »

Applied once, got rejected, then a few months later they sent me a letter suggesting I should reapply, just in case my circumstances have changed. I reapplied and got accepted. Happened to a few others in this thread too. Some got rejected the second time, even though they got the same letter I did.

I reapplied for a 2nd time after they sent me that letter and was declined. I applied for a Barclaycard and I was accepted. Very pleased. So I won't bother again.

horngkai

patrickbateman wrote: »

I am concerned that I will lose my cashback.

I have only had this credit card for a few weeks and in the run up to xmas have now gone over my credit limit and incurred a penalty of £12.

Does this definitely mean that I have invalidated the cashback I had already earned and can not earn any further cashback for the remainder of the year... if so this is pretty rubbish and I will probaby just cancel the card as it wont be worth keeping.

I'm a bit annoyed since I haven't received a statement through the post yet despite now using the card since late October, and the online platform is prone to fail to log in. I went over my limit by approx £4.

That said, I should have planned better as I knew the rules...

did the overlimit fee appear on your statement quickly? I once thought I went over the limit but I have yet to see the overlimit fee 3 months down the line....

exponential

Just been accepted for this card after the 10 day waiting period.

They offered a £250 limit but an absolutely horrendous 44% APR!!!!!

I decided NOT to sign and return the agreement as that rate is ridiculous and any cashback would be cancelled out by the APR!

Shame but never mind. Just wanted it for credit building purposes anyway.

grumbler

exponential wrote: »

They offered a £250 limit but an absolutely horrendous 44% APR!!!!!

I decided NOT to sign and return the agreement as that rate is ridiculous and any cashback would be cancelled out by the APR!...

Calm down....:coffee:
Hope you have not fulfilled your decision yet. The APR is of no importance if you pay the balance in full every month.

This card is good for cashback, spending abroad and building credit history.
If you need to borrow money, find a better way.

jo-bo

^^^^^^^^^ what he said..cross posted :)The apr will only matter if you DON'T pay your bill off in full every month.

exponential

grumbler wrote: »

Calm down....:coffee:
Hope you have not fulfilled your decision yet. The APR is of no importance if you pay the balance in full every month.

This card is good for cashback, spending abroad and building credit history.
If you need to borrow money, find a better way.

Really?? Is that how it works??

Well I didn't throw the agreement away so maybe I should rethink my position?

My intention was to use it for fuel then pay in full each month anyway.....

So in order to not be hit by 44%, I should pay off in full BEFORE my next statement is produced or would setting up a DD to pay in full sort that for me?

Also, keeping the account in good standing, would they consider a rate reduction in the near future??:D

Nessie23

exponential wrote: »

Really?? Is that how it works??

Well I didn't throw the agreement away so maybe I should rethink my position?

My intention was to use it for fuel then pay in full each month anyway.....

So in order to not be hit by 44%, I should pay off in full BEFORE my next statement is produced or would setting up a DD to pay in full sort that for me?

Also, keeping the account in good standing, would they consider a rate reduction in the near future??:D

As long as you pay the full amount each month you will not have to pay the 44% APR. For me the easiest way is to set up the direct debit to pay the full amount.
If you do that you can use it for credit building and get the 3% cashback for your purchases .

PS - For the first month check with them whether there is enough time to set up the Direct Debit or whether you have to do a manual payment.

exponential

Nessie23 wrote: »

As long as you pay the full amount each month you will not have to pay the 44% APR. For me the easiest way is to set up the direct debit to pay the full amount.
If you do that you can use it for credit building and get the 3% cashback for your purchases .

Oh great! I kinda jumped the gun a bit! haha

Well I think I will send off the agreement then and use the card as you suggest.

Can I ask if you know anything about Aqua's online account management, is it easy to use and set up etc etc....

blitzboy

exponential wrote: »

Oh great! I kinda jumped the gun a bit! haha

Well I think I will send off the agreement then and use the card as you suggest.

Can I ask if you know anything about Aqua's online account management, is it easy to use and set up etc etc....

It's very easy to use, albeit a little slow to show transactions compared to some. However the 'available balance' is always up to date which is useful, simply decuct the 'available balance' from the 'credit limit' and that tells you how much you need to pay tp get the card back to £0 (if you dont want to wait for a statement).

The way I (and many others on here) use the card is to pay for fuel etc on the card then transfer that amount from my bank account to the aqua card via faster payments. I do this because the initial limit was too low to fit a whole month's spending on so a direct debit was no good for me. By making the payments straight away you always have your full credit limit available and will always be paid up to date so no interest will be payable.

However if you are only going to be spending around £100 a month and have a £250/£500 credit limit then setting up a direct debit to pay IN FULL each month would also work.