Is aqua credit card bad on your file

Laylasmummy

Hi forum

I haven't had much credit in the past, so took mobile phone catalogue and aqua credit card to build up a profile past couple of years. Paid everything on time always, I just notice on my credit file the aqua card comes up as a progressive form of credit. I know this may sound silly but I was just wondering do lenders look at this like a bad thing or would they simply look at it as a credit card which has been managed well.

Reason I ask is I will be applying for a mortgage in about a year and want to know if this card looks bad on my file, I pay it off in full every month.

Im not well clued up on the stuff so please excuse if my question seems silly !
Thanks

paulmcerlean

Not at all!

Aqua is becoming more a card that sets in the middle between sub prime and prime. It is certainly not the easiest card to get.

Also, on your credit file it shows as Halifax Card Services, not Aqua. At least on mine it does.

The reward card is a pretty decent card actually.

Laylasmummy

paulmcerlean wrote: »

Not at all!

Aqua is becoming more a card that sets in the middle between sub prime and prime. It is certainly not the easiest card to get.

Also, on your credit file it shows as Halifax Card Services, not Aqua. At least on mine it does.

The reward card is a pretty decent card actually.

Hi thanks for fast reply I checked on Equifax and it does say aqua im sure ! maybe I will double check on Experian call credit. Just was not sure if it looked bad or not so thanks

Wywth

Laylasmummy wrote: »

Hi forum

I haven't had much credit in the past, so took mobile phone catalogue and aqua credit card to build up a profile past couple of years. Paid everything on time always, I just notice on my credit file the aqua card comes up as a progressive form of credit. I know this may sound silly but I was just wondering do lenders look at this like a bad thing or would they simply look at it as a credit card which has been managed well.

Reason I ask is I will be applying for a mortgage in about a year and want to know if this card looks bad on my file, I pay it off in full every month.

Im not well clued up on the stuff so please excuse if my question seems silly !
Thanks

What do you mean by a 'progressive form of credit'?

Aqua credit cards are issued by Progressive Credit Limited, if that's what is causing you the confusion.

Laylasmummy

Wywth wrote: »

What do you mean by a 'progressive form of credit'?

Aqua credit cards are issued by Progressive Credit Limited, if that's what is causing you the confusion.

Ah yes that's what it is then, told you I wasn't the brightest when it came to this stuff lol.

I just seen that and was concerned it would be looked upon badly, though im thinking just keep it open and continue paying it in full every month to keep my file in order

Laylasmummy

You-kip wrote: »

An Aqua card sets in the Middle of Sub-prime & Prime are you having a laugh?

Its 35% APR and also a lender will know its a sub-prime card due to its limit that sub-prime cards set.

My limit is £1600 so its no terribly low

shortcrust

My understanding is that potential lenders don't see who your cards are with so they won't know it's an Aqua card.

JakeGreen

When lenders pull your credit file, they don't see the names of your existing lenders.

So it'll show that you have a credit card with a £1600 limit and your payment history. They won't know whether it's an Aqua or an Amex, but they may be able to guess from the limit on the card. For example a £500 limit versus a £5k limit.

They may well know the name of your current account supplier, but you probably have to give them your account number and sort code on the application form so they could work that out anyway.

paulmcerlean

You-kip wrote: »

An Aqua card sets in the Middle of Sub-prime & Prime are you having a laugh?

Its 35% APR and also a lender will know its a sub-prime card due to its limit that sub-prime cards set.

They do cards with 32%APR which granted is not super low, but there are plenty of people with prime cards with 29.9%APR due to rate jacking.

Also your limit argument holds no weight as although it was my first credit card and I use my Lloyds card these days, my Aqua card has a credit limit of £2200 which is only £800 less than my 11.9% APR bank credit card.

Again, many people get prime cards with less than £2000 limits.

It is by no means a prime card, but it is also in no way a Vanquis card.

Iand1

Moved my limit on Nationwide select down to £1500, only use it abroad, limit was £5k

Got limits of £10k and £5 elsewhere. so thought that was best. whats a low limit nowadays anyway? £250 or £500 ish

Experian_company_representative

Happy to confirm that when lenders carry out a credit check they do not see the names of other lenders registered on your report. So in this case it would just say 'credit card'.

James Jones