Aqua Reward - any way to calculate the limit first?

Voltron

Long things short - credit rating isn't brilliant so trying to improve it, while also going on holiday for a few weeks. Interested in the Aqua card as I was rejected from Clarity before I was aware of the Eligibility tools on MSE, and it seems to fulfil what I need - a good rebuilding card combined with usefulness abroad (over an RBS debit that's on the 'hell' list) and a small 0.5% cutback opportunity.

However, their webpage states the limit is between £100 and £1200 but doesn't give an indication of what defines this. Is this going to be part of the super secret process I'm not going to be able to work out myself, or is it a case of 'most people will get the £1,200 if their rating isn't too bad?'. I have an AA/AA/BB mark on my record from o2 from last year that's being removed, and a 12 month DF that started in Feb 08 which I've been advised in another thread here will be cleared on Feb 15 as that's the start period. I have 2 loans that are both settled, and all OKs all the way through, it's just these 2 'blips' right now.

If it's only a few hundred, then I don't see the point of me getting this card right now - $200 or so is likely to be under my daily spend on some days, but don't really want a 2nd credit card application on my file today if I'm not actually going to accept.

Masomnia

Until you apply you won't know.

They only gave me £250 despite never missing a payment on anything (maybe that's why?). Kind of annoying. You should be able to increased over time though.

Voltron

Thanks for the quick reply. £250 isn't awful at least, not enough for buying 2 big tickets for Universal Studios or something but if I kept my eye on my spending (which I should really!) it could be worse. Just seems for £100 I'd be wasting my time using it abroad.

Also to avoid another subject, does anyone have feedback as to whether the Advance is worthwhile over the Reward? Does the APR drop at a decent rate, or is it slow and still remains high and not worth using once good credit is restored?

Aquamania

Voltron wrote: »

Long things short - credit rating isn't brilliant so trying to improve it, while also going on holiday for a few weeks. Interested in the Aqua card as I was rejected from Clarity before I was aware of the Eligibility tools on MSE, and it seems to fulfil what I need - a good rebuilding card combined with usefulness abroad (over an RBS debit that's on the 'hell' list) and a small 0.5% cutback opportunity.

However, their webpage states the limit is between £100 and £1200 but doesn't give an indication of what defines this. Is this going to be part of the super secret process I'm not going to be able to work out myself, or is it a case of 'most people will get the £1,200 if their rating isn't too bad?'. I have an AA/AA/BB mark on my record from o2 from last year that's being removed, and a 12 month DF that started in Feb 08 which I've been advised in another thread here will be cleared on Feb 15 as that's the start period. I have 2 loans that are both settled, and all OKs all the way through, it's just these 2 'blips' right now.

If it's only a few hundred, then I don't see the point of me getting this card right now - $200 or so is likely to be under my daily spend on some days, but don't really want a 2nd credit card application on my file today if I'm not actually going to accept.

It WILL only be a few hundred quid

(and they are best avoided, imho. See other threads on Aqua for why, and how they repeatedly lie/make up answers in the hope you will go away)

Anyway, in answer to your question, if you have a good credit history, they will initially offer you a £500 credit limit; if your credit history is not so good, but still meets their lending criteria, you will be offered a £250 initial credit limit.

Voltron

I had a feeling haha. I put through the application last night as I thought I'd at least get instantly accepted, but it seems not and now I'm waiting. I'll have my laptop with me in the States at least to make payments so if I've got about $400 to play with each time, it's at least doable.

I'll be checking the other threads though, I did some Googling and couldn't find much in the way of definitive reviews but hopefully will find some tips here. At least I'm in a position where I don't need credit right now, simply just trying to making travelling easier however I need to while rebuilding my account.

Cheers!

Voltron

After a weeks wait or so, got my card and they gave me a £600 credit limit, which rounds to about $1,000 and is perfect for my needs. Thanks for the help again.

tanya2014

They started me on £200
Within 3 months they upped it to £750
Just pay it off each month and they will increase it.