Aqua credit cards - avoid!!

jooleeloo

I applied for a credit card with Aqua, attracted by the 3% cash back. I received a letter this morning declining my application due to my credit history?!? I have a perfect credit history, and the irony is that this is supposed to be a card good for people with a poor credit history. The letter blamed information from Experian, so I phoned them in a panic that there was some fraud happening in my name. Experian confirmed 1) that there is absolutely nothing negative in my credit history, and 2) Aqua had not even performed a credit search.
I phoned Aqua to speak to them about it but after 20 min on hold and being passed around numerous different people, they suggested I purchase a copy of my credit report and post it to them for them to consider an appeal. As if I want to prove to them that I am worthy of their card with its appalling customer service - they can stick their card where the sun don't shine. I don't need their card to know that they should not be recommended to anyone!

Gromitt

It sounds like you posted this in a moment of anger because you got refused.

Any credit issuer that declines you must state which CRA they used, however, they can decline you without ever searching your report if they think you don't match their expected criteria. This can be anything, even such things as paying off your CC in full every month.

BugsyBrowne

Excellent credit history and applying for an aqua card Doesnt make sense what's wrong with the Amex or capital one 5% cashback or even the Santander 123 card.

antrobus

jooleeloo wrote: »

I applied for a credit card with Aqua, attracted by the 3% cash back. I received a letter this morning declining my application due to my credit history?!? I have a perfect credit history, and the irony is that this is supposed to be a card good for people with a poor credit history. ...

Which might explain why you were declined? It's entirely possible that Aqua have no intention of issuing a card to anyone who looks as if they might actually be capable of paying off the balance each month.

trikidy

Boo hoo, as you said, aqua is for people with nor perfect credit!
You said you have perfect credit!
Therefore there is little chance of you getting accepted as they would not see you as a profitable investment.

Stuart_W

BugsyBrowne wrote: »

Excellent credit history and applying for an aqua card Doesnt make sense what's wrong with the Amex or capital one 5% cashback or even the Santander 123 card.

Well I've got an excellent credit history and just been accepted for the Aqua card. It does make perfect sense thank you, Bugsy.
The Amex card is no use for me as the majority of my shopping is done with retailers that do not accept it, the 5% cashback with capital one is infact just a promotion for the first 3 months and then reverts to 0.5% for the first £6,000 of spending. The Santander card would get me possibly somewhere between 0.5% and 1% cashback after taking into account the annual fee (I don't buy fuel or use department stores).

But by offering a pure 3% cashback rate on all spending (I'll stop using the card after spending £3,333 until year 2) they are making a loss with me but I will enjoy an easy £100 every year whilst it lasts.

[Deleted User]

Stuart_W wrote: »

Well I've got an excellent credit history and just been accepted for the Aqua card. It does make perfect sense thank you, Bugsy.
The Amex card is no use for me as the majority of my shopping is done with retailers that do not accept it, the 5% cashback with capital one is infact just a promotion for the first 3 months and then reverts to 0.5% for the first £6,000 of spending. The Santander card would get me possibly somewhere between 0.5% and 1% cashback after taking into account the annual fee (I don't buy fuel or use department stores).

But by offering a pure 3% cashback rate on all spending (I'll stop using the card after spending £3,333 until year 2) they are making a loss with me but I will enjoy an easy £100 every year whilst it lasts.

I hope you don't mind me asking, Stuart_W, but why would you have to stop using your Aqua Card after spending £3,333 and - about the year 2 - is the 3% only for two years and is that why you'll stop using it? Or does the 3% stop once you have spent £3,333 on the card?

I'm just curious. Thank you.

Crimson

Gromitt

Cashback is max £100/year, so £3333 * 0.03 = £100.

Capital one are sticky people about people who don't own there own home.

Amex is not accepted everywhere and typically comes with a fee, so you need to know you'll use the card.

Santander 123 only gives 3% on fuel, and I believe has a fee after the first year.

So Aqua is probably the best for a pure 3% cashback.

glennc1981

I tried to apply for an Aqua card the other day but I was declined myself despite having good credit nowadays. I've got a Capital One card which I'm happy with though I want to be more mainstream attractive.

But Aqua can go screw themselves. Not bothering with them ever again.

jooleeloo

Gromitt, as I said, Aqua's letter stated that their information was from Experian. Experian have no record of a search by Aqua (although their records were otherwise accurate and complete). Whatever their reasons are, the information they have given me is incorrect. They are allegedly good EVEN for people with poor credit history, not ONLY people with poor history. I think I should be able to expect true information from any respectable company, not just be told that I should pay for a copy of my credit report and then appeal.
Trikidy, they do not state anywhere that a poor credit history is a requirement! If they are going to discriminate this way, they should state it, so people don't waste their time. Pregnant & moving house, I don't need the stress caused by them leading me to believe there was a problem with my finances.

callum9999

jooleeloo wrote: »

Gromitt, as I said, Aqua's letter stated that their information was from Experian. Experian have no record of a search by Aqua (although their records were otherwise accurate and complete). Whatever their reasons are, the information they have given me is incorrect. They are allegedly good EVEN for people with poor credit history, not ONLY people with poor history. I think I should be able to expect true information from any respectable company, not just be told that I should pay for a copy of my credit report and then appeal.
Trikidy, they do not state anywhere that a poor credit history is a requirement! If they are going to discriminate this way, they should state it, so people don't waste their time. Pregnant & moving house, I don't need the stress caused by them leading me to believe there was a problem with my finances.

The normal reaction to a credit card rejection isn't a state of panic and stress - how are they meant to know you would react like that?