Aqua

Better_Off_1983

Personally, I would not accept, they have a really high interest rate. I paid off my aqua card this week because they recently upped the interest rate, I opted out of that and they kept it was 39.9% but closed the account and I could not spend on it anymore.

With your limit being increased and only having about £40.00 available to spend, you have to allow that amount for the interest so that you do not incur any over limit charges.

I think their interest rate is now about 45% isnt it?

Gromitt

BugsyBrowne wrote: »

Well I'm glad you're getting £2 a week cashback congratulations don't spend it all at once

Don't forget you have to spend over £64/week on average to get that £2

I only applied because it was better than what I was getting on my AA card, but as soon as I've spent the £3335, I'll be switching back. The £500 limit is quite annoying.

The interest rate doesn't bother me, as I don't intend on carrying a balance.

a_username_2

Can i jump in on this thread,i have 2 questions...

I have just got this card and have just got my 1st statement,for easy money sake...

The balance on the statement which was obviously done a week or so ago says i have spent £200.

Since the statement was done i have spent a further £100 so the balance when i check online is £300.

How much do i have to pay to get no interest added on,£200 on the statement,or £300 which is my balance online.

The other question,so it's ok to go online regulary to pay the bill say weekly to get as much cash back as possible,obviously up to the £100 cashback limit as my credit limit is very low.RE:What ffacoffipawb is doing.

Maestro.

You only need to pay off what your statement says. The £100 you spent is allocated to the next statement.

King_Weasel

ffacoffipawb wrote: »

No no no no.

I have lots of credit cards, all cleared every month and I believe my credit rating to be excellent.

I applied for the Aqua card for the 3% cashback, and I got one with a measly £500 credit limit.

Same here, though I've got some 0% unpaid balances. Never had such a ridiculous credit limit before. I did a 0% bt to it so now I can spend without worrying about exceeding the limit.

My wife applied later and got a £1600 limit. Was it something I said when I applied?

Wywth

BugsyBrowne wrote: »

Don't take this the wrong way but there must be adverse on your credit report at the moment to have an Aqua card in the first place...

Eh? :huh:

Anyone can apply for an Aqua credit card. They only refuse those that don't pass their credit check.

vintagegirl

further to my intial post, i have had a letter today telling me that yes they are increasing my limit to £750 but they are also increasing my interest rates from 35.9% to 45.9%

I dont understand why they would do this

skivenov

Don't take this the wrong way, it's truely not meant like that.

I'm guessing they think there's a strong chance of you getting tempted and running up a debt that will take you a while to clear, so they're hoping to make more money out of you that way.

Gotta keep inside their heads and work out what they're trying to make you do, and what's truely best for you.

jo-bo

You've only got a small limit and yet you've run up the balance and are paying it off in chunks ( I'm not judging!). You're their favourite kind of customer!! If you are still running a balance on this card and cannot pay it off in full, I'd suggest closing the card to further spending NOW to keep the interest rate at its present level.
You won't be able to do any further spending but it'll keep the interest rate down

deutsch

i got a letter too! though my limit is £250, so doubling to £500 means it will be easier to use! states within the next 40 days from the date of the letter.

just means i don't have to manually make payments before my next bill/direct debit is due!

maybe they've caught on that i make 2 manual payments to put my credit card in credit. i also liked to make manual payments on the direct debit date too!

with mse and it's brand awareness of cashback for aqua, they are obviously making more money via people making mistakes. i doubt this is anything to do with making things easier for the card holder. some analyst going through all the stats and making models thinks increased credit limits will = more profit.