Large Aqua limit increase

MrSilk

Just got a limit increase by Aqua from my current £250, to £750, despite only charging between £20 - £30 per month to the card, which is subsequently clearer in full later on in the month.

Two questions, 1. Are they doing this to temp people into debt? and 2. What is the highest limit they do up to?

I've two months left until my CCJ drops off, and my file shall have no defaults and CCJs, after six years; I feel incredibly lucky. My plan is to shift the small balance I have with Cap1 of £500 to a 0% balance transfer card and close Aqua & Granite, but keep my Capital One Secured as I've had it for 3 years now.

Lioness_Twinkletoes

They are increasing limits in order to encourage people to spend on their card and make them interest. It is their raison d'etre. It is not Aqua's responsibility to make sure people spend wisely.

Anthorn

MrSilk wrote: »

Just got a limit increase by Aqua from my current £250, to £750, despite only charging between £20 - £30 per month to the card, which is subsequently clearer in full later on in the month.

Two questions, 1. Are they doing this to temp people into debt? and 2. What is the highest limit they do up to?

I've two months left until my CCJ drops off, and my file shall have no defaults and CCJs, after six years; I feel incredibly lucky. My plan is to shift the small balance I have with Cap1 of £500 to a 0% balance transfer card and close Aqua & Granite, but keep my Capital One Secured as I've had it for 3 years now.

You can only tempt yourself into debt and just because the limit is there doesn't mean you have to use it. In my own experience I get a letter giving notice of a limit increase which includes a form to return if I want to refuse it. I don't think their maximum limit is stated or if it is I haven't seen it: Take a look at my signature.

thebritishbloke

In terms of that being a "high limit increase", you'll be shocked at what limits a lot of average people have. If you have a really good history with a lender, don't be surprised if one day you end up with £20k+ limits.

It's just standard practice, raise the limits, hope you decide to spend on something you can't afford, woohoo for Aqua massive interest rates.

I'd close your Capital One Secured, get back your security deposit and use it to pay off any balances you owe. Then I'd apply for a more mainstream card once your CCJ drops off.