Aqua Card, Request to increase Credit Limit

adindas

[FONT=&quot]Dear All[/FONT]

[FONT=&quot]I am currently having Aqua Credit Card with spending limit of £500.00 that I am hoping to increase[/FONT].

[FONT=&quot]I believe I have a very good credit record as I have not missed any single payment. In term of affordability, I am a high rate tax payer and my Loan to Credit availability Ratio is very low as I always pay my balance in full in the following statement month to avoid interest.

[/FONT] [FONT=&quot]I am looking into the possibility of asking for an increase on my credit limit to £1,500 so when I purchase items over £1,000 such as Annual Travel Card for public transport which cost me around £1350 a year I could still get 3% cash back. [/FONT]

[FONT=&quot]As the way of credit rating work is quite weird. I am just afraid of getting declined and it might impact on my credit rating. [/FONT]
[FONT=&quot]
What is the chance of my credit limit in this card of getting declined? I am particularly looking for people who have tried it or know someone, read someone stories who have tried it to share their experience. [/FONT]

[FONT=&quot]Thank you for your time [/FONT]

[Deleted User]

You can ask. You may not get £1500, but it won't impact your credit rating either way.

Mr_K

I've got a £500 limit, asked for an increase after 6 months and didn't get a rise. I pay it off in full by DD each month and have other cards with over 10 times the limit of Aqua. Probably don't fit the profile of the sort of customer that makes them money.

However £500 a month is more than enough to max out the £100 max. cashback, which is the only reason for having it. The rubbish credit limit does mean having to keep track of the balance all the time, where as I don't need to bother with other cards. Wouldn't surprise me if the 3% disappeared soon, once they've signed up enough punters, - at which time it'll be bye bye Aqua, after i've pocketed the cashback of course

adindas

Mr_K wrote: »

However £500 a month is more than enough to max out the £100 max. cashback, which is the only reason for having it. The rubbish credit limit does mean having to keep track of the balance all the time, where as I don't need to bother with other cards. Wouldn't surprise me if the 3% disappeared soon, once they've signed up enough punters, - at which time it'll be bye bye Aqua, after i've pocketed the cashback of course

In most cases true. I have also been using this card even for tiny amount of less than £10. But If you want to purchase item of over £500 in one go such as Annual season ticket, Airlines ticket, Gadget HDTV than this limit will not be sufficient.

It is easier to control spending and optimise cash back if you could reach £100 cash back limit asap and then wait again for refresher year to reuse it.

Wywth

Mr_K wrote: »

I've got a £500 limit, asked for an increase after 6 months and didn't get a rise. I pay it off in full by DD each month and have other cards with over 10 times the limit of Aqua. Probably don't fit the profile of the sort of customer that makes them money.

However £500 a month is more than enough to max out the £100 max. cashback, which is the only reason for having it. The rubbish credit limit does mean having to keep track of the balance all the time, where as I don't need to bother with other cards. Wouldn't surprise me if the 3% disappeared soon, once they've signed up enough punters, - at which time it'll be bye bye Aqua, after i've pocketed the cashback of course

I had a £500 limit and requested an increase after 6 months.
(Like you I've also got other cards with over 10x this limit)

Didn't get the requested amount, but got £650 limit which appears the standard.
https://forums.moneysavingexpert.com/discussion/4521385

It might be worth you checking your credit files to see why you may have been turned down completely.