Aqua / Vanquis credit cards

Dakent89

Hi all.
I'm currently in the process of rebuilding my credit file.

All adverse has gone, but one negative factor, other than time is that my credit limits are less than £1000.

I've had my Aqua card since November and it started on a £600 limit.

I pay it virtually in full every month and haven't had any problems.

I'm looking into trying to up the limit so I look 'less risky' in future (looking to mortgage fairly soon), but my main question is: Will this result in another search on my credit report?

I've already got searches for a previous mortgage application and this is also having a negative impact on my score.

In addition to this, my partner has had a Vanquis card with a £250 limit for 3 months - the same questions apply for Vanquis too really, as were both in the same boat (she has no negative nor has ever had any adverse, but she simply has no history at all)

Thanks in advance

[Deleted User]

They may do another search, but not always.

Why do you pay 'virtually' in full month? Why not in full?

Dakent89

Most months are in full, but I've had one occasion where I haven't done, car trouble so paid about 80% off.

May have been in full, I usually pay before statement day so don't really know the date...

Just concerned, don't really want anymore searches, trying to get past the 6 months for all searches and I'm already at 3 months for them all.

Thanks

phild145

Got my Aqua card towards the end of September limit was £300. Had a letter just after the 3rd statement offering an increase to £950 and just had another letter after in april offering an increase to £2000.

No additional search done in my case

Dakent89

Wow really?
I don't ever get post from them at all.
Interesting to know, though the limit hasn't increased online.

Perhaps it's different for people with different markers as I still had a BR on file, which dropped off last month.

Thanks

phild145

The only letter I have is when they offer the increase. They give you the option of ringing them to get the increase applied immediately or it will be applied by them something during the next 40 days I think unless you advise them that you do not want it.

Dakent89

Ah right, I'm 6 months in so perhaps I'll be due one. 6 months would seem an obvious figure but 4 is possible.

Perhaps more a waiting game than anything, I'd imagine no credit searches then too if this is the case...

SnowTiger

Dakent89 wrote: »

Most months are in full, but I've had one occasion where I haven't done, car trouble so paid about 80% off.

May have been in full, I usually pay before statement day so don't really know the date...

That seems bit slapdash for someone who's concerned about their credit file.

And, if you're paying off (part of) the balance before your statement is produced, you're probably not doing your credit rating much good because it will appear that you use the card less than you do.

Dakent89

I totally agree.
who can plan for car failure though?
Steering racks don't come cheap so ill live with the consequences of a small balance that may or may not have rolled over past a statement date, seeing as no car means no work...

This isn't the reason I'm here though.
my spending habits are totally fine I'm just doing what I can do to help for a mortgage application in the near future.

Thanks

David301

I had an aqua card last december came with a £250 limit 49.9% APR, I also applied for a Barclay card at the same time and that arrived with £400 limit 34.9% APR, I used the aqua for paying my phone bill each month and paying it off before the statement due date and used the Barclay for a couple of unexpected purchases but as i had a 6 month interest free I just paid the minimum payments. This month I did a soft search from MSE and it said I had a good chance at a capital one card, so i applied for that and it arrived £1500 limit 34.9% APR.

Im going to scrap the aqua when i've had it for 12 months unless they will give me a deal that beats my other cards and then apply for something else. My goal is just to get a decent card at a decent rate, just to help me budget a bit better. Ideally I wont pay any interest at all which I haven't up to now. Which is great!

Dakent89

That makes sense. Same as me no interest paid yet.

I'm not even bothered about the rates etc as I don't use it out of necessity with theexception of the car playing up on the unexpected.

Basically I want the limit up because it's a negative on my credit expert at the moment being less than £1000.

Don't want any searches as the existing searches are already negative points and are almost out of the wayalso don't wantany new accountsite as due leaving home recently I have lots of new accounts like British gas, Virgin media etc

Thanks for the advice